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PRESS RELEASE THE BOARD OF DIRECTORS OF THE ARAB MONETARY FUND HOLDS ITS 98TH MEETING ON THURSDAY, 27 DECEMBER 2018

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PRESS RELEASE THE BOARD OF DIRECTORS OF THE ARAB MONETARY FUND HOLDS ITS 98TH MEETING ON THURSDAY, 27 DECEMBER 2018

Post by claud39 on Thu Dec 27, 2018 7:44 am

https://www.amf.org.ae/ar/content/%D8%A8%D9%8A%D9%80%D8%A7%D9%86-%D8%B5%D8%AD%D9%81%D9%8A-%D9%85%D8%AC%D9%84%D8%B3-%D8%A5%D8%AF%D8%A7%D8%B1%D8%A9-%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D8%A7%D9%84%D9%86%D9%82%D8%AF-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A-%D9%8A%D8%B9%D9%82%D8%AF-%D8%A7%D8%AC%D8%AA%D9%85%D8%A7%D8%B9%D9%87-%D8%A7%D9%84%D8%AA%D8%A7%D8%B3%D8%B9-%D9%88%D8%A7%D9%84%D8%AB%D9%85%D8%A7%D9%86%D9%8A%D9%86-%D8%A8%D8%B9%D8%AF-%D8%A7%D9%84%D9%85%D8%A7%D8%A6%D8%A9-%D9%8A%D9%88%D9%85-%D8%A7%D9%84%D8%AE%D9%85%D9%8A%D8%B3



PRESS RELEASE THE BOARD OF DIRECTORS OF THE ARAB MONETARY FUND HOLDS ITS 98TH MEETING ON THURSDAY, 27 DECEMBER 2018
2018-12-27










The Hundred and Ninth Meeting of the Board of Directors of the Arab Monetary Fund was held at the headquarters of the Fund in Abu Dhabi City on 27 December 2018, under the chairmanship of Dr. Abdulrahman bin Abdullah Al-Humaidi, Director-General and Chairman of the Board. The meeting reviewed the developments of the activities of the Fund and its most important work in the various areas of its work during the fourth quarter of 2018 within the framework of the five-year strategy (2015-2020).

With regard to the lending activity, the Board was informed of the signing of the two loan agreements approved for the Arab Republic of Egypt and the Kingdom of Morocco. The first installment of the loan to Egypt was withdrawn under the framework of the facilitation of "Supporting the creation of an enabling environment for small and medium enterprises" Submitted to Morocco with the framework of the compensatory loan.  

In the same context, the Board was informed of the results of the Fund's mission to the Hashemite Kingdom of Jordan in response to the Kingdom's request to utilize the resources of the Fund in the form of a loan under the framework of facilitating structural adjustment in the banking sector.

On the other hand, the Board's agenda included a review of the developments of the Fund's investment activity, including the activity of accepting deposits from central banks and Arab monetary institutions, the performance of the investment portfolios, developments in international financial markets and the measures taken to implement the Fund's investment strategy.

The Council also noted the training opportunities provided by the Fund during the fourth quarter of 2018 to Arab cadres in the economic, financial, monetary and official statistical institutions in the Arab countries through its Economic Policy Institute. The Institute's activities during the quarter included 12 training courses, as well as a workshop, which were presented with the participation of professionals of the Arab Monetary Fund, in cooperation with the IMF's Center for Economics and Finance in the Middle East, the World Bank, the Islamic Development Bank, The Bank for International Settlements, the Japan International Cooperation Agency (JICA), the Middle East and North Africa Financial Action Task Force (MENAFATF) and the World Trade Organization (WTO). The courses and workshops dealt with a variety of economic topics that correspond to the training needs and concerns of the official Arab cadres.

In the framework of the Arab Statistics Initiative, the Council reviewed the results of the fifth meeting of the Arabstat Technical Committee, organized by the Fund during the period 7-8 November 2018 in Abu Dhabi, United Arab Emirates, in the presence of more than 60 participants from central banks, Arab monetary institutions, ministries of finance and statistical agencies in the Arab countries, as well as representatives of the Arab Monetary Fund partners in the field of developing Arab statistical work from regional and international financial institutions.

The Council also reviewed the Fund's activities in the field of developing the financial sector in the Arab countries, through its initiatives, meetings and workshops, which it cooperates with the relevant regional and international financial institutions. The Board was informed of the activities organized by the Fund As part of its efforts to enhance the role of the financial sector in achieving comprehensive and sustainable economic growth,


  • (PAFI), with the participation of high-level representatives from 27 global central banks and international organizations and frameworks, to discuss a number of topics, including the application of Guiding Principles of Payment Systems to enhance the financial coverage of the Group and the challenges in this Review and evaluate the effectiveness of procedures to expand the use of bank accounts.

  • Organized a high-level workshop on issues of payment systems to enhance financial inclusion, with the participation of the World Bank Group and the Bank for International Settlements, high-level representatives from a number of global central banks, international organizations and frameworks, the GCC Secretariat and representatives of central banks and Arab monetary institutions , And members of the Arab Committee for Payment and Settlement Systems, to discuss a number of Arab and international issues related to payment systems to enhance financial coverage.

  • To provide technical assistance to the Republic of Iraq in the development of policies, strategies and programs that help to improve financial coverage, under the framework of the initiative to enhance financial inclusion in the Arab countries, in cooperation with the World Bank, the German Development Agency and the Global Alliance for Financial Inclusion. During the period 21-25 October 2018, for the purpose of conducting a comprehensive field assessment of the conditions of financial inclusion and the requirements for its enhancement in Iraq.

  • The first Arab Forum for Modern Financial Technologies was organized in cooperation with the German Development Agency and the Global Alliance for Financial Inclusion, with the participation of the United Arab Emirates Central Bank and senior officials from the Ministries of Finance, Ministries of Economy, Central Banks, Arab Monetary Institutions, Capital Markets Commissions, Commercial Banks, Financial technologies in the Arab countries, international financial institutions, global central banks, international financial technology companies and related research and research centers. The purpose of the forum is to discuss a number of topics including: the uses of financial techniques and their implications for conventional payment systems and the opportunities they offer in enhancing financial coverage in the Arab countries, electronic payment systems and transfers across borders and their role in enhancing the access of individuals, families and small and medium enterprises to financial services and products .



As part of its role as the Technical Secretariat of the Board of Governors of Central Banks and Arab Monetary Institutions, the Board of Directors was briefed on the outcome of the 17th Arab Committee for Payment and Settlement Systems organized by the Fund on 3 and 4 October 2018 in Abu Dhabi and the topics discussed during the meeting. Including the use of virtual and digital currencies, their impact on payment and settlement systems, the role of supervising authorities in supervision and supervision, the regulatory and supervisory framework for accelerating the settlement of small payments, the supervision and risk management mechanism in payment systems and control of the card E-T, and issues related to developments in the function of supervision and control over the payment and settlement systems.

The Council was also briefed on the launch of the Regional Working Group on Modern Financial Technologies, which held its first meeting on 11 December 2018, to discuss the topics of modern financial techniques, to consult and exchange experiences and knowledge on their issues and to develop different visions for their revitalization and organization in the Arab countries. The first Arab financial technologies on December 12 and 13, 2018.

The Council was also briefed on the results of the fifteenth meeting of the Regional Working Group on Enhancing Financial Inclusiveness in the Arab States, organized by the Fund during the period 4 and 5 November 2018, in Abu Dhabi, in the presence of the Directors and officials concerned with financial inclusion issues in central banks and Arab monetary institutions, The Global Alliance for Financial Inclusion, the Islamic Development Bank Group, the German Development Agency (GIZ) and the World Bank Group.

The Board took note of the topics discussed during the 32nd meeting of the Arab Banking Supervision Committee, which was organized by the Fund on 26 and 27 November 2018 in Abu Dhabi, with the participation of directors and supervisors of the Central Banks and Arab Monetary Institutions, The Union of Arab Banks, the Union of Arab Securities Commissions, the General Secretariat of the Gulf Cooperation Council, the Basel Committee on Banking Supervision, the International Monetary Fund and the World Bank. The most important topics discussed during the meeting included the application of counter-cyclical capital requirements in Arab countries, the regulatory framework for modern financial techniques, the application of the capital requirement to meet the risks of banks of systemic interest locally, the new Basel III credit risk approach, Operations.

On the other hand, the Council reviewed the developments of the project of establishing the system of clearing and settlement of inter-Arab payments, in accordance with the four tracks specified by the Fund to complete the project, namely providing legal services for the establishment of the legal entity for the Arab clearing, Of the new technologies. A global consulting company was contracted to review the technical solutions included in the design, which helps to study the opportunities to benefit from the latest developments in the field of information technology, and to choose a specialized company to help employ competency And the expertise needed to manage the Arab clearing system, in addition to selecting a company specialized in identity and communication services.

The Council was also briefed on the Fund's efforts to strengthen cooperation with regional and international institutions. On 25 November 2018, the Fund organized the periodic meeting of the Basel Committee Consultative Group in Abu Dhabi to discuss a number of issues and issues, including the implementation of regulatory reforms, Combating money laundering and terrorist financing, with the participation of a number of senior officials from the banking supervision departments in a number of central banks and international regulatory bodies, in addition to representatives of the banking supervision committees of the various regional groups.

In the same context, the Board was informed of IFAD's participation in the annual meetings of the IMF and World Bank, held in October 2018 in Bali, Indonesia, as well as the Fund's participation in the Group of Twenty-four meetings, the Arab Group Ministerial meetings with the President of the World Bank Group, General International Monetary Fund.

In another context, the Council was briefed on the participation of the Fund in the 2018 Arab Banking Conference held in Beirut, Lebanon on 15 November 2018 under the title "Public-Private Partnership", in the presence of a number of Arab Central Bank Governors, Arab commercial banks, as well as senior officials in the financial sector, banking and economic experts from the public and private sectors at the Arab, regional and international levels.

The Board also reviewed the activities of the Fund during the period since its previous meeting in September 2018, as part of its role as the secretariat of the Arab Finance Ministers Council. It reviewed the arrangements for the meeting of the undersecretaries of the Ministries of Finance scheduled for 9-10 January 2019. The fourth Planned Public Finance Forum Held on 9 February 2019, in the presence of the Executive Director of the International Monetary Fund, Ms. Christine Lagarde, and the Excellencies the Ministers of Finance of the Arab States, the Governors of the Central Banks and the Arab Monetary Institutions.

During the meeting, the Fund reviewed the most important activities of the Fund in the area of ​​research and studies, which are concerned with the Arab economic situation. Since the last meeting of the Council in September 2018, the Fund has published the eighth issue of the Arab Economic Outlook in September 2018, Of the same report - March 2019, and the preparation of a study on the "determinants of women's participation in the labor force in the Arab countries" in order to identify the most important determinants of participation of Arab women in the labor market during the period 1990-2016; Arab States: Reality and Challenges Yat "to identify the experiences of Arab countries in this regard and to benefit from them in terms of measures taken to apply the latest methodologies and the nature of the challenges faced by the preparation of balance of payments data and the international investment situation. In addition to preparing a booklet on "

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Re: PRESS RELEASE THE BOARD OF DIRECTORS OF THE ARAB MONETARY FUND HOLDS ITS 98TH MEETING ON THURSDAY, 27 DECEMBER 2018

Post by Jayzze on Thu Dec 27, 2018 8:32 am

with this plus the meeting with the pm at the white house next week this could be your last weekend to buy dinar.
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