The Arab Monetary Fund (AMF) launched its 2022 annual activity report, which was approved by the Board of Governors of the Arab Monetary Fund after reviewing the Fund's efforts in providing financial and technical support to enhance economic and financial stability and achieve inclusive and sustainable growth in its member countries. 

The report details the activities and financial position of the Fund for the fiscal year that ended on December 31, 2022, as well as the financial and technical assistance it gave to its member countries through lending activities, direct and indirect technical assistance, advice, and contributions to studies, reports, bulletins, books, and booklets. It also outlines the seminars, workshops, and training courses delivered by the Fund Training Institute to strengthen and expand the capacities of official Arab cadres in central banks, ministries of finance, economy, trade, and national statistical organizations.

The issue of enhancing access to finance and financial services in the Arab countries is receiving growing attention from the Council of Arab Central Banks and Monetary Authorities’ Governors, in recognition of the potential and significant opportunities that can be achieved by increasing financial inclusion to support inclusive and sustainable economic development, address unemployment challenges and achieve equality. There is no doubt that enhancing financial inclusion plays an important role in supporting the efforts to face the climate change repercussions, by enabling financial sector customers to deal with risks associated with climate changes and enhancing their ability to recover from the climate change effects, which in turn contributes to inclusive and sustainable development, thus leading to soundness and resilience of the financial sector.

Abu Dhabi, April 17, 2023: Buna (the cross-border payment system operated by Arab Regional Payments Clearing and Settlement Organization “ARPCSO”, owned by The Arab Monetary Fund “AMF”), announces the launch of its Instant Payment Service (IPS). This anticipated service is now live and ready to onboard participants seeking payments that are instant and available 24/7/365, in a cost-effective way.

On this occasion, her Excellency the Moroccan Minister of Economy and Finance expressed her appreciation for the support provided by the AMF and the important role it plays in strengthening the ability of Arab countries to maintain economic stability and face different challenges. In turn, his Excellency the Director General of the AMF valued the efforts pursued by the Kingdom of Morocco to implement economic and structural reform programs, which largely contribute to improving the outlook for its credit rating by rating agencies, stressing the AMF keenness to continue the fruitful partnership with the Moroccan government to help the country address the different challenges in the most effective way.

The program supported by the aforementioned loan includes a number of pillars: strengthening the system of control and supervision of the financial and banking sector, promoting sustainable financing, enhancing financial inclusion, promoting financial innovation, and developing the legal framework governing the capital market.