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THE ARAB MONETARY FUND AND THE GERMAN CENTRAL BANK SIGN A MEMORANDUM OF UNDERSTANDING FOR TECHNICAL COOPERATION DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

THE ARAB MONETARY FUND AND THE GERMAN CENTRAL BANK SIGN A MEMORANDUM OF UNDERSTANDING FOR TECHNICAL COOPERATION

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THE ARAB MONETARY FUND AND THE GERMAN CENTRAL BANK SIGN A MEMORANDUM OF UNDERSTANDING FOR TECHNICAL COOPERATION Empty THE ARAB MONETARY FUND AND THE GERMAN CENTRAL BANK SIGN A MEMORANDUM OF UNDERSTANDING FOR TECHNICAL COOPERATION

Post by claud39 on Fri Feb 14, 2020 8:48 am

THE ARAB MONETARY FUND AND THE GERMAN CENTRAL BANK SIGN A MEMORANDUM OF UNDERSTANDING FOR TECHNICAL COOPERATION


2020-02-13


THE ARAB MONETARY FUND AND THE GERMAN CENTRAL BANK SIGN A MEMORANDUM OF UNDERSTANDING FOR TECHNICAL COOPERATION Image00003%20%28Large%29_1






Thursday, February 13, 2020, Abu Dhabi - United Arab Emirates

 
On Thursday, February 13, 2020, the Memorandum of Understanding was signed between the Arab Monetary Fund and the German Central Bank. The Memorandum of Understanding, which represents a renewal of the previous memorandum signed in 2015, aims to enhance the existing cooperation and partnership between the two institutions in providing technical advice, capacity building and training for cadres Arab contribution to achieve financial, economic and monetary stability in the Arab countries, thus driving economic growth.

The agreement was signed by His Excellency Dr. Abdul Rahman bin Abdullah Al-Hamidi, General Manager and Chairman of the Board of Directors of the Arab Monetary Fund, while it was signed by the German Central Bank, Mr.   Burkhard Balz, member of the Board of the German Central Bank.

It is hoped that by signing the Memorandum of Understanding, it will enhance cooperation in many areas, specifically, training and capacity building, financial reforms, enhancing financial inclusion, strengthening payment systems and developing financial infrastructure and other areas that contribute to enhancing economic and financial stability in the Arab region.

On this occasion, His Excellency Dr. Abdul Rahman bin Abdullah Al-Hamidi indicated that cooperation with the German Central Bank over the past decade has been successful by all accounts. His Excellency also emphasized that the renewal of the Memorandum of Understanding comes within the framework of consolidating and expanding the scope of the ongoing cooperation as a way to strengthen and strengthen the financial sector in the Arab region and in line with the Fund's strategy and vision in this regard.

For his part, Mr. Burkhard Balz, a member of the Board of Directors of the German Central Bank, expressed his happiness at signing this agreement with the Arab Monetary Fund, stressing the continuation of building on what has been achieved in the field of fruitful cooperation with the Arab Monetary Fund during the past decade, looking forward to further cooperation in Many economic, financial and monetary areas of interest to the Arab region in order to drive economic growth in this region.

A brief introduction to the Arab Monetary Fund: An Arab financial organization, founded in 1976, with 22 Arab countries in its membership. The fund aims to contribute to correcting the imbalance in the balance of payments of member states, and work to remove restrictions on current payments between member states, in addition to establishing policies and methods of Arab monetary cooperation, and to provide advice when requested, in relation to foreign investment policies, as well as work to develop markets Arab Finance. To achieve these purposes, the fund provides loans, technical advice, capacity building and training to supervisory authorities and economic and financial bodies in the Arab countries.

About the German Central Bank: The German Central Bank was established in 1957, and its headquarters are in Frankfurt. The bank operates through offices located in 9 German cities, in addition to 25 branches.
 The main mission of the bank is to supervise public banks in Germany.

THE ARAB MONETARY FUND AND THE GERMAN CENTRAL BANK SIGN A MEMORANDUM OF UNDERSTANDING FOR TECHNICAL COOPERATION Image00003%20%28Large%29_1
claud39
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