Abu Dhabi, January 19^th, 2023: Buna (the cross-border payment system operated by Arab Regional Payments Clearing and Settlement Organization “ARPCSO”, owned by The Arab Monetary Fund “AMF”), holds today, Thursday January 19^th, its monthly virtual workshop number 39 to showcase Buna’s contribution to regional economic integration and detail the mechanisms put in place by the central banks to ensure the safety and resiliency of the service.

In line with its continuous efforts to support the decision-making process in the Arab countries, the Arab Monetary Fund (AMF) has released a study titled “Is Climate FinTech Effective in Mitigating Climate Change Risk?”.

Global climate change and global warming are typically attributed to human activity, especially after the industrial revolution. There is a growing consensus among climate scientists that Climate FinTech provides great potential to protect the environment and mitigate climate change risks. In this paper, we investigate the cause-and-effect relationship between the FinTech index and carbon dioxide emissions index globally. In doing so, Granger causality test and Wavelet coherence analysis are employed to evaluate this association using daily frequency data over a period of 30 June 2015 to 31 December 2021.

The Arab Monetary Fund (AMF) and The Arab Gulf Programme for Development (AGFUND) signed a memorandum of understanding on Wednesday, December 28, to promote economic development and achieve sustainable development goals in the Arab region through boosting financial inclusion and enhancing the role of the financial inclusion. The MOU will focus on supporting micro, small and medium-sized agricultural projects, and digital financial transformation, which contributes to accelerating the economic growth and creating job opportunities in the region, in addition to supporting legislations and supervisions of the financial systems including microfinance.