Election of the Governor of the Central Bank of Iraq as Deputy Chairman of the Board of Governors of the Arab Monetary Fund

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Election of the Governor of the Central Bank of Iraq as Deputy Chairman of the Board of Governors of the Arab Monetary Fund

April 25, 2019

" Declaration "

Election of the Governor of the Central Bank of Iraq as Deputy Chairman of the Board of Governors of the Arab Monetary Fund for the new session and the President of the Council in the next session

https://cbi.iq/news/view/1076

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 President of the Association of Iraqi Private Banks congratulates the Governor of the Central Bank on the occasion of his victory as Deputy Chairman of the Board of Governors of the Arab Monetary Fund




04/25/2019







President of the Association of Iraqi private banks Wadih al-Hanalal «Economy News»

The President of the Association of Iraqi Private Banks, Wadih Al-Hanalal, congratulated the Governor of the Central Bank of Iraq Dr. Ali Al-Alak on the occasion of his victory as Deputy Chairman of the Board of Governors of the Arab Monetary Fund. 

"We congratulate the Iraqi people and the staff of the Central Bank of Iraq on the occasion of the victory of HE the Governor of the Central Bank of Iraq, Dr. Ali Alalak as Deputy Chairman of the Board of Governors of the Arab Monetary Fund." 

He added that "Al-Aalak has achieved many great achievements of Iraq in several areas, including combating money laundering, financing terrorism, developing the banking sector, introducing new systems in its work, and opening up to central banks and international banks."

[ltr]He pointed out that "Iraq has succeeded in a great success during the relationship and this is what is witnessed by all economists and specialists in the banking field."[/ltr]

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http://economy-news.net/content.php?id=16420

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ARAB MONETARY FUND ORGANIZES THE 10TH SESSION OF THE COUNCIL OF ARAB MINISTERS OF FINANCE 25 APRIL 2019 KUWAIT - STATE OF KUWAIT


2019-04-25

Arab Monetary Fund to hold a meeting of the 10th Session of the Council of Arab Ministers of Finance April 25 The Ministers discuss the support of small and medium enterprises, the requirements of developing social security systems, strengthening public debt management and benefiting from modern technologies to improve tax systems and services.

 

The tenth Ordinary Session of the Council of Arab Ministers of Finance will be held in Kuwait City on the afternoon of Thursday 25 April 2019. The Ministers of Finance of the Arab States will participate in the session. The League of Arab States, the Arab Fund for Economic and Social Development and the Arab Executive Directors of the IMF and the World Bank will also attend the meeting as observers. It should be noted that the Arab Monetary Fund has been the secretariat of the Council since its establishment.

The agenda of the session includes a number of important topics, including the report of His Excellency Dr. Abdulrahman bin Abdullah Al-Humaidi, Director General and Chairman of the Board of Directors of the Arab Monetary Fund. The Council is also expected to discuss regional and international economic developments and the challenges facing Arab economies in this regard.

In this context, a working paper on "Supporting Small and Medium Enterprises in the Arab Countries" presented by the International Monetary Fund (IMF), a working paper on "Development of social security systems to promote employment and growth in Arab countries" presented by the World Bank Group, And Strategies for Public Debt in the Arab States ", submitted by the Arab Monetary Fund. The Council will also discuss a report on the "Use of modern financial techniques for the development of tax services", prepared by the Organization for Economic Cooperation and Development (OECD). HE Mohammed bin Abdullah Al Jada'an, Minister of Finance of the Kingdom of Saudi Arabia, will present a brief presentation on developments in G20 priorities and activities and the impact of these priorities on the economic issues and conditions of Arab countries.

In addition, the Council will review a report on the progress of the Arab clearing project, implemented by the Arab Monetary Fund, in light of the strategic importance of the project in supporting intra-Arab trade and investment and opportunities for financial and regional integration and strengthening economic ties with Arab trade partners.

On this occasion, HE Dr. Abdulrahman bin Abdullah Al-Humaidi said that the meeting represents an important opportunity to discuss the challenges faced by the financial policy makers in the Arab region in the context of regional and international economic and financial developments, noting the development of the various topics covered by the meeting of this session. He also praised the efforts made by the Arab countries in terms of fiscal reforms and their importance in achieving financial sustainability. He also expressed his sincere appreciation and gratitude to the State of Kuwait for hosting the meeting.




https://www.amf.org.ae/ar/content/%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%D9%86%D8%B8%D9%85-%D8%A7%D8%AC%D8%AA%D9%85%D8%A7%D8%B9-%D8%A7%D9%84%D8%AF%D9%88%D8%B1%D8%A9-%D8%A7%D9%84%D8%B9%D8%A7%D8%B4%D8%B1%D8%A9-%D9%84%D9%85%D8%AC%D9%84%D8%B3-%D9%88%D8%B2%D8%B1%D8%A7%D8%A1-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8-25-%D8%A3%D8%A8%D8%B1%D9%8A%D9%84-%D9%86%D9%8A%D8%B3%D8%A7%D9%86-2019

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Governor of the Central Bank of Iraq Deputy Chairman of the Board of Governors of the Arab Monetary Fund for the new session

25 April 2019

The Arab Monetary Fund elected the Governor of the Central Bank of Iraq HE Ali Mohsen Ismail as Deputy Chairman of the Board of Governors of the Arab Monetary Fund for the new session and the President of the Council in the next session. The election was part of the tenth session of the Arab Finance Ministers' Meeting organized by the Arab Monetary Fund in Kuwait on Thursday, 25 April 2019, which is being attended by finance ministers from Arab countries. The League of Arab States, the Arab Fund for Economic and Social Development and the Arab Executive Directors of the IMF and the World Bank will also attend. 

The meeting will discuss the regional and international economic developments and challenges facing the economies of the Arab countries. The support of small and medium enterprises in the Arab countries will also be discussed and the development of social security systems to enhance employment and growth in the Arab countries and to develop public debt management and strategies in the Arab countries.

https://cbi.iq/news/view/1076

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Ashur Bank congratulates the Governor of the Central Bank of Iraq on his position as Vice Chairman of the Board of Governors of the Arab Monetary Fund 




25/04/2019











Economy News Baghdad 


congratulated the Assyrian International Bank, on Thursday, the Governor of the Central Bank of Iraq, Ali Alalak, on the occasion of becoming the Deputy Chairman of the Board of Governors of the Arab Monetary Fund. 
The bank said in a statement received by "Economy News", "The management of the bank congratulates the Governor of the Central Bank of Iraq, Dr. Ali Alalak to be appointed Deputy Chairman of the Board of Governors of the Arab Monetary Fund." 
The statement added that "the victory of the relations in this position is a win for all the Iraqi banking sector," noting that "the relations managed during the period included the post of Governor of the Central Bank to promote the reality of the banking sector and the development of human cadres." 
It is noteworthy that the Board of Governors of the Arab Monetary Fund, the governor of the Central Bank of Iraq, Dr. Ali Alalak, on Thursday, for the post of Vice-President of the Council for the new session and the President in the next session. 





http://economy-news.net/content.php?id=16423

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His Excellency Mr. Ali Mohsen Ismail Al-Alaq

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( Biography of the Governor Ali Mohsen Ismail Alaq )

Academic and Professional Degrees:

- Bachelor of Accounting and Business Administration - University of Mustansiriya / Iraq 1976.

- Higher Diploma in Financial Sciences (equivalent to the Master) - University of Baghdad Iraq 1979.

- Honorary Doctorate in Islamic History / Institute of Arab History and Scientific Heritage for Graduate Studies / League of Arab States and holder of the Medal of the Arab historian.

- Certified auditor

Professional Affiliation:

-  Member of the Association of Iraqi Certified Accountants.

-  Member of the Iraqi Economists Association.

-  Member of the Iraqi Accountants and Auditors Association.

-  Member of the Association of Iraqi Legal Advisors.

Jobs handled :

-  Governor of the Central Bank of Iraq and Chairman of the Board of Directors 2014 and so far.

-  Secretary General of the Council of Ministers 2006-2014

-  Inspector General of the Ministry of Oil 2004 - 2006   

-  From 1977 to 2003, he held several positions in the Iraqi Ministry of Commerce, Audit Offices in Iraq and Kuwait, Financial Analyst in Kuwait and Canada and other administrative, accounting and financial functions.

The most important tasks that he carried out in addition to his job:

-  Governor of Iraq in the International Monetary Fund - 2014 continues.

-  Governor of Iraq in the Islamic Development Bank - 2014 continues.

-  Governor of Iraq in the Arab Monetary Fund - 2014 continues.

-  Chairman of the Joint Council Against Corruption in Iraq 2014- 2007.

-  Chairman of the Council of Owners of the Transparency Initiative for Extractive Industries 2014-2010.

-  Chairman of the Council of Undersecretaries of Ministries 2013-2007

-  Member of the United Nations Joint High Committee for Public and Private Sector Reform 2008-2010.

In addition to participating in a large number of committees at the national and sectoral level / and represented Iraq in many international conferences and meetings.

Research and studies:

He has published several researches, studies and articles on monetary and monetary policy, development, centralization, administrative decentralization, monitoring, inspection and inspection. He also presented research papers in many local and international conferences and workshops. He issued the first reports of transparency of the oil sector. 2006.

Shareholder in the preparation of the first strategy of the Central Bank of Iraq for the years 2020-2016.

Leadership Capacity:

He has an integrated vision to develop the institutional work and put it within the framework of international advanced practices. This success was achieved by establishing and building a model inspection office during his mandate as the first inspector general of the Ministry of Oil. He contributed to building the inspection system in Iraq, and establishing manuals and regulations for its work. The Ministers shall provide for the building of this important institution and introduce regulations, procedures and formations in accordance with the best international standards as an institution of special importance in organizing, coordinating and following up the work of ministries and other bodies.

Within the vision, mission and objectives of the aspiration, the CBI transferred its traditional role to the advanced role by introducing new functions such as Total Quality Management, Risk Management, Economic Modeling Management, Financial Stability Management, Risk Based Audit, Corporate Governance, The scope of national payments, and the supervision and regulation of many aspects of the work was also activated the role of the bank in the fight against money laundering and financing of terrorism, which received international praise and remove Iraq from the financial embargo that was threatening.

Policies and procedures have been developed for all the Central Bank's formations.

The Bank's oversight role was also promoted to establish the banking sector in Iraq within the framework of international best practices and to protect against risks in all its forms.

The central bank played a major role in achieving financial and monetary stability during the financial shock of the year 2015 and beyond as a result of the collapse of the price of oil and confrontations with a hawkish. At the same time, the central bank provided the largest lending initiative in the history of Iraq to revitalize the real economic sectors.

https://cbi.iq/page/50

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FINAL COMMUNIQUÉ OF THE 10TH ORDINARY SESSION OF THE COUNCIL OF ARAB MINISTERS OF FINANCE KUWAIT - STATE OF KUWAIT 25 APRIL 2019








 2019-04-26

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[*]The Council of Arab Ministers of Finance held its tenth session on Thursday, 25 April 2019 in Kuwait City, under the chairmanship of HE Ali Shareef Al Emadi, Minister of Finance of the State of Qatar.

[*]The meeting was attended by Arab finance ministers, as well as a number of heads and senior officials from regional and international financial institutions. At the outset, the participants expressed their sincere thanks to the Amir, the Government and the people of Kuwait for hosting the meeting. They also thanked the Minister of Finance of the State of Palestine, Shukri Beshara, for his efforts during his presidency of the Council's last session.

[*]At the beginning of the meeting, the Board reviewed the report of the Technical Secretariat of the Council presented by His Excellency Dr. Abdulrahman bin Abdullah Al-Humaidi, Director General and Chairman of the Arab Monetary Fund, summarizing the developments in the activities and activities of the Secretariat during the year. The report included a summary of the discussions and work of the Fourth Forum of Public Finance and the Regional Forum on Taxation in the Arab States. It also included a summary of the work of the fourth meeting of agents of Arab finance ministries. The Ministers thanked the Fund for the efforts made to follow up the activities of the Council and to prepare for the meeting.

[*]The Council discussed the issues of supporting SMEs in the light of the IMF working paper on the subject. The discussions highlighted the great importance of SMEs in the economies of the Arab region. The efforts of the Arab authorities in this regard were discussed in view of the role of these projects in sustainable economic growth and the creation of jobs. These projects are faced in the Arab countries, thus enhancing the competitiveness of SMEs and their contribution to job creation.

[*]The Council discussed the development of pension, pension and social security schemes, in light of the World Bank Group's working paper on the subject. The discussions touched upon the benefits that can be achieved through the development of social security systems, pensions and pensions, in supporting the efficiency and flexibility of the labor markets and achieving solidarity and social stability on the one hand, and on the other, on supporting the development of the financial and banking sector and mobilizing domestic savings to provide Long-term financing of development projects. The discussions also tackled the challenges of reform in the Arab countries and the needs and policies of developing these systems to enhance the environment conducive to business, the competitiveness of the sector through the development of social security services, and the mechanisms that enhance access to these services and the use of modern technologies in this regard.

[*]The participants discussed aspects of the reform of public debt management and the development of financing markets in the Arab countries in the light of the study provided by the Arab Monetary Fund on the subject. The discussion tackled the reality and determinants of the overall framework of public debt management operations in the Arab countries, reflecting the increasing funding needs and how to respond to the recent developments in the size and structure of public debt in Arab countries. The discussion also touched upon the efforts made by a number of Arab countries to develop public debt management policies at the legislative and institutional levels. The experiences of some Arab countries in organizing public debt management offices were reviewed.  

[*]The discussions also discussed the concepts and components of debt management strategies, criteria and indicators to be included, and reviewed the experiences of a number of Arab countries in this regard. Discussions emphasized the importance of developing the institutional framework for public debt management and proposing risk criteria and indicators to build effective public debt portfolio management.

[*]The Council discussed the report submitted by the Organization for Economic Cooperation and Development (OECD) on the use of modern financial technologies to develop tax services. The opportunities for the use of digital financial services were discussed in the development of administration and tax services. The discussion also addressed international developments at the tax level and related tax policy challenges. The Ministers stressed the need to employ modern technologies in all public finance services, in order to promote transparency, simplify procedures and efficiency.

[*]The Council listened to a brief presentation by Saudi Arabia on the latest developments in the G20 and its priorities during 2019. The Ministers thanked the Kingdom of Saudi Arabia for the valuable offer and welcomed the efforts and actions taken by the Group in promoting overall growth opportunities, The success of these efforts, as this has a significant impact on global economic stability.

[*]The Council discussed relations with the international financial institutions in the light of the situation and developments in the Arab region and the economic and social repercussions thereof. The Council reiterated the importance of increasing the contribution of the international financial institutions in supporting the Arab countries to help them in the economic and structural reform plans adopted for achieving sustainable economic development. And comprehensive. The Council also called for the importance of helping conflict-affected Arab States to design and implement strategies to support recovery and reconstruction. On the other hand, the Council noted the role of the Arab countries in supporting the resources of the IMF and the World Bank, thus contributing to enhancing the capacity of these institutions to play their role. The Council also stressed the importance of continuing to deepen cooperation between the international financial institutions and the Arab financial institutions, welcoming the cooperation between the Arab Monetary Fund and the International Monetary Fund at the level of the Public Finance Forum. The Council also renewed its call to intensify efforts to increase the employment of citizens from Arab countries, especially at the level of senior positions in the IMF and the World Bank. Finally, the Council noted the importance of the Arab clearing project in supporting intra-Arab investments and trade and in strengthening the trade relations and ties of the Arab world, calling on the Arab institutions to support the implementation of the project.

[*]The Council was briefed on the summary report submitted by the Arab Monetary Fund on the progress of the Arab clearing project. The Ministers commended the intensive efforts of the Arab Monetary Fund in this regard, stressing the strategic importance of the project.

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In conclusion, the Council reiterated its sincere thanks and gratitude to the Amir, the Government and the people of Kuwait for their warm hospitality and wished the people prosperity and progress.



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HE DR. ABDULRAHMAN BIN ABDULLAH AL-HUMAIDI, DIRECTOR-GENERAL, CHAIRMAN OF THE ARAB MONETARY FUND, ADDRESSES THE JOINT ANNUAL MEETINGS OF ARAB FINANCIAL INSTITUTIONS ON 25 APRIL 2019 KUWAIT - STATE OF KUWAIT
2019-04-26

The joint annual meetings of Arab financial institutions in the State of Kuwait opened on Thursday 25 April 2019. The meeting was opened by HE Ali Shareef Al Emadi, Minister of Finance of the State of Qatar, Chairman of the Joint Meeting of the Arab Financial Institutions, in the presence of His Excellency the Chairmen of the Arab Financial Institutions, the Arab Fund for Economic and Social Development, the Arab Institute for Investment Guarantee and Export Credit, The Arab Monetary Fund and the Arab Organization for Agricultural Investment and Development.

On this occasion, HE Dr. Abdulrahman bin Abdullah Al-Humaidi, Director General of the Arab Monetary Fund, delivered a speech at the joint session expressing his sincere appreciation and gratitude to the Amir, the government and the people of Kuwait for hosting these important meetings. These meetings. In his address, he also highlighted the challenges facing the global economy as trade tensions between major economies escalated, concerns about the effects of a large rise in public debt levels and policy uncertainties, which reflected the prospects for global economic growth and international trade.

He also praised the efforts of the Arab authorities in taking steps and measures to deal with these developments and challenges. On the one hand, the Arab oil exporting countries continued their strategies to diversify their economic structures, increase the levels of attractiveness of business environments and stimulate domestic and foreign investments to support the non-oil sectors. The Arab oil importing countries continued their efforts to achieve economic stability and support the growth of containment under the programs

The economic reform implemented by these countries, which showed tangible successes in terms of increasing levels of investment and exports and reduce unemployment rates.

He also pointed out the current challenges faced by the Arab countries, most notably the need to work towards achieving a significant reduction in unemployment rates, creating more job opportunities based on anticipatory visions of future developments and a careful outlook on labor market needs. Financial discipline and ensure financial sustainability. As well as the need to stimulate funding capacity to meet sustainable development goals by engaging in successful partnerships with the private sector and relevant international institutions to finance infrastructure and development projects. He also pointed out the need to intensify efforts to develop the financial sector in the Arab countries to support access to finance and financial services, to develop local capital markets and to promote regional financial integration.

In his speech, Dr. Abdulrahman bin Abdullah Al-Humaidi, Director General of the Arab Monetary Fund, addressed some of the most important features of the Fund's activities in recent months. The Fund has been keen to improve the efficiency of its response to the needs of its Member States for financial support and technical advice, The efforts of member countries to achieve economic stability and adopt a number of structural reforms necessary to increase levels of efficiency of the financial and banking sector and financial sector government. The Fund has also supported member countries' efforts to promote SMEs and increase levels of financial coverage in the framework of the "Facilitating Environment Support for Small and Medium Enterprises" and the Regional Financial Inclusion Initiative.

Training and capacity-building programs have also expanded in number, issues and topics. In addition, at the direction of the Board of Governors of the Central Banks and the distinguished Arab Monetary Institutions, the activities and work of the committees and working groups emanating from the Council witnessed a qualitative development and expansion that enhanced the role of the Council in coordinating and exchanging experiences and experiences among the Arab countries on important topics on financial inclusion, , Financial stability, financial infrastructure and credit information, as well as enhanced coordination and cooperation with regional and international institutions.

He explained that the Arab Monetary Fund has continued its efforts during the last period to implement the "Arab clearing system" in coordination with the central banks and Arab monetary institutions and the relevant international financial institutions to achieve all the requirements of the implementation phase. Achieving regional financial integration.

Recognizing the important role played by modern financial technologies in enhancing financial coverage and increasing the efficiency of financial services, the Fund pointed out that by the end of 2018, the Arab Monetary Fund has launched the Regional Working Group on Modern Financial Technologies under the umbrella of the Board of Governors of Central Banks and the prestigious Arab Monetary Institutions. Topics of modern financial techniques, consultation and exchange of experiences and knowledge on their issues and the development of different visions for revitalization and organization in the Arab countries in order to strengthen and consolidate financial coverage in the Arab region.

In his address to the annual meetings of the joint Arab bodies, HE Dr. Abdulrahman bin Abdullah Al-Humaidi addressed the intensive efforts of the Arab Monetary Fund over the last two years to guide strategic planning in general to a long-term horizon and to begin developing the following five-year strategy (2020-2025) Taking into account the different economic conditions of Member States and the nature of future challenges facing member countries.

 

Finally, His Excellency thanked the UAE and the United Arab Emirates for providing all the facilities that helped the Fund and the Program.

The following is the full text of the word:

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[url=https://www.amf.org.ae/sites/default/files/%D9%83%D9%84%D9%85%D8%A9 %D9%85%D8%B9%D8%A7%D9%84%D9%8A %D8%A7%D9%84%D9%85%D8%AF%D9%8A%D8%B1 %D8%A7%D9%84%D8%B9%D8%A7%D9%85 %D8%AE%D9%84%D8%A7%D9%84 %D8%A7%D9%84%D8%AC%D9%84%D8%B3%D8%A9 %D8%A7%D9%84%D8%B3%D9%86%D9%88%D9%8A%D8%A9 %D9%84%D9%84%D9%87%D9%8A%D8%A6%D8%A7%D8%AA %D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D8%A7%D9%84%D9%83%D9%88%D9%8A%D8%AA 2019.pdf]https://www.amf.org.ae/sites/default/files/%D9%83%D9%84%D9%85%D8%A9%20%D9%85%D8%B9%D8%A7%D9%84%D9%8A%20%D8%A7%D9%84%D9%85%D8%AF%D9%8A%D8%B1%20%D8%A7%D9%84%D8%B9%D8%A7%D9%85%20%D8%AE%D9%84%D8%A7%D9%84%20%D8%A7%D9%84%D8%AC%D9%84%D8%B3%D8%A9%20%D8%A7%D9%84%D8%B3%D9%86%D9%88%D9%8A%D8%A9%20%D9%84%D9%84%D9%87%D9%8A%D8%A6%D8%A7%D8%AA%20%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D8%A7%D9%84%D9%83%D9%88%D9%8A%D8%AA%202019.pdf[/url]

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a word
His Excellency Dr. Abdulrahman bin Abdulla Al-Humaidi
General Manager and Chairman
Arab Monetary Fund
in a
Annual Joint Meeting
For Arab financial institutions
Kuwait - State of Kuwait
April

Speech
His Excellency Dr. Abdulrahman bin Abdulla Al-Humaidi
General Manager and Chairman
Arab Monetary Fund
At the Joint Annual Meetings of the Arab Financial Institutions
Kuwait - State of Kuwait
April
HE Ali Shareef Al Emadi, Chairman of the Joint Session,
Your Excellencies,
Ladies and Gentlemen,
At the outset of my speech, I am pleased to hold the annual joint meetings of the financial bodies
To express my sincere appreciation and gratitude to our dear country, the State of Kuwait
And government
And the hospitality and hospitality to host these important meetings
And to provide all facilities for its success, reflecting the attention and keenness of the State of Kuwait
This blessed country has all the progress and prosperity.
To support the joint Arab action
I would also like to extend my sincere thanks to HE Dr. Nayef Al Hajraf, Minister of Finance
Kuwait and its colleagues for the good preparation and organization of these meetings and the preparation of all
Conditions appropriate to their success.
I would also like to thank His Excellency Mr. Abdul Latif Yousif Al-Hamad, Chairman of the Board
Arab Fund for Economic and Social Development and other colleagues
Arab financial institutions gathered today for their cooperation and contribution to the arrangement and preparation
Good for meetings.

Excellencies,
Dear sisters and brothers,
, The annual meetings of the participating Arab financial institutions
Kind
And an important opportunity for consultation between finance, economy and planning ministers and bank governors
Central Arab Monetary Institutions and heads of Arab financial institutions, on how to develop
The performance of the joint Arab economic and financial work, in the light of the developments that are taking place
The Arab region and the challenges faced by Arab economies.
It is no secret that regional and international economic developments call for continued work
To promote Arab economic cooperation to a level commensurate with aspirations
The nature of the stage of the economies of our Arab countries.
Your Excellencies,
Dear sisters and brothers,
Although the growth rate of the global economy is 2018 at close levels recorded in 2008
In the recovery momentum
Of those achieved during 2017, which witnessed a rapid acceleration
But there are signs that emerged during the second half of last year
Indicated that economic activity may be weak as trade tensions intensify
Among major economies, and concerns about the implications of the dramatic rise in levels
Public debt, and policy uncertainties, which have been reflected in activities
Trade, investment and manufacturing in both developed and developing countries. Based on it is expected
International Monetary Fund The global economic growth rate has fallen to about 5.3 percent
In 2019 compared to 6.3 per cent in 2018, and is expected to return
Global economic growth
Rising again by 6.3 percent in 2020.
There is no doubt that these developments will have important implications for the Arab economies
During the coming period. On the one hand, the growth rate of international trade is expected to decline
To levels around 5.3 per cent this year and next, according to Bank estimates
In comparison to 8.3 in 2018, which will be reflected on the external demand

Which accounts for about 43 per cent of the gross domestic product of the Arab countries as a group
With regard to the expected impact of the economic slowdown in the OCD and EU economies
Which account for about 53 per cent of the total Arab exports.
On the other hand, the stability of world oil prices at relatively low levels
To affect the Arab countries' economies, and to change the policy of the Shiites
And oil revenues, which, despite the decline in their Christian importance, to about 32%
43 per cent of total exports and revenues, respectively, compared with a median of approx
70 per cent of the total export and revenue earnings before global prices fell
Of oil by the end of 2014, it remains one of the Asian factors influencing militancy
Implemented in States
Public spending, bank liquidity, credit granted, and investments
Oil exporter.
Arabic
In addition to the above, the growing increase in levels of global indebtedness that has now reached
About 184 trillion dollars, representing about 224 percent of GDP
And global average per capita debt to about $ 84,000,
Which is more than twice the average per capita income of the world according to fund data
International Monetary Fund poses many challenges to both the developed and the developing world.
It should be noted in this context that debt rates in developing countries and economies
Emerging markets have nearly doubled over the past ten years, which is what
Is one of the most important challenges facing the economies of these countries, especially in view of the implications
Potential to return monetary policy in developed economies to their traditional pathways
The coming years, which will have significant implications for international interest rates will
Leads to capital transfers from some safe havens,
Emerging Markets Research
It will also impose new dimensions of indebtedness and may lead to price crises
Exchange and interest rates in some of these countries.
For our Arab countries, the challenge of increasing indebtedness in particular is considered
Among the most important challenges facing our Arab economies in the light of the increase witnessed
Toward
Public debt ratios, which recently reached 117 percent of GDP
To borrowing Arab countries, and overcoming domestic and external debt indicators levels
In a number of Arab countries, which highlights the importance of containing public debt paths and ensuring
Moving at sustainable levels.
Your Excellencies,
Dear sisters and brothers,
Growth in GDP
Arab economies witnessed a significant increase
2018 to reach about 5.2 per cent, according to the preliminary estimates of the Arab Monetary Fund
Compared with a growth of only 1 per cent in 2017. The high growth rate is on
Background Oil economies benefited from the increase in oil production during the period
In the second half of last year as part of OPEC's decision to ease the decision
Modification of production quantities in order to reduce price pressures in the international oil markets
During that period.
Recorded in oil prices last year by 33 per cent
It also boosted the rise
The state of public budgets in a number of these countries and enabled them to continue government spending
On infrastructure projects and economic diversification, and thus the continuation of non-sectors
Oil in a number of these countries achieve a moderate growth rate. Based on the above rate rose
The growth of Arab oil-exporting countries to 8.1 per cent in 2018 compared to the contraction
By 3.0 per cent in 2017.
On the other hand, oil-importing economies were responsible for an important aspect of the rise
In 2018, in light of the high rate recorded in the growth rate of Arab countries as a group during the year
Growth of the Group's countries to 1.4 per cent, against the background of economic reforms
These countries in order to promote economic stability and restore internal and external balances
Which contributed to a number of these countries in providing financial resources supportive of growth, and worked on
Stimulate investments and exports and thus support aggregate demand levels.
According to preliminary estimates by the Arab Monetary Fund, Arab countries are expected to record growth
Around 1.3 and 4.3 per cent, respectively, in 2019 and 2020, reflecting
In the implementation
The positive impact of a number of Arab oil exporting countries moving forward
Strategies and visions for further economic diversification and reforms
Aimed at increasing the attractiveness of the business environment and stimulating domestic and foreign investments.


It is also expected that the growth recorded at the level of Arab countries will benefit as a group
The current and future of the pursuit of Arab oil-importing countries, and after achieving some of the successes
Concrete macroeconomic stability, to focus more on reforms
• Access to high-growth introductions, with the need to adopt supportive policies
Education and health sectors, providing more job opportunities, and increasing productivity and competitiveness
Which contributes to reaping more. Of the fruits of economic reform over the medium term
Your Excellencies,
Dear sisters and brothers,
In addition to the challenges posed by the impact of the international environment on the Arab economies
I have already mentioned a number of challenges facing the Arab countries
Which is headed by the high rate of unemployment in the Arab countries to what constitutes about double
The global unemployment rate, which is attributed to the accelerated growth of the labor force, as you know
Exceeds the ability of Arab economies to provide jobs and coordinate growth in Arab countries
Which is not sufficiently operational, and the inadequacy of labor market needs
Education outcomes and the resulting gap in skilled labor and market structure
Work and business environments and the consequent preference for public sector employment
Private sector, employment in the informal sector, and the challenges associated with the difficulty of establishing
Projects.
Increases the magnitude of the challenges posed by high unemployment rates in the Arab region
Among young people, the rate of youth unemployment in Arab countries was around 26 per cent
In 2018, which is equivalent to about double the world youth unemployment rate
About 13 per cent, according to World Bank data. On the other hand, youth unemployment is rising
In the Arab countries, to about 40% compared to 15% in the Arab countries
Of the global average, which limits the prospects for growth in Arab countries and weakens
Current productive capacities.
Employment and Economically Active Population Within this framework, a growth rate is expected for decades
Coming, due to the impact of rapid population growth in the last three decades, your neighborhood will witness



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The Arab region is the largest growth of the young population in the history of the Arab world, and therefore
Increase labor supply levels dramatically. If the growth and employment pattern continues
Unemployment will continue to be the biggest economic and social challenge facing the region
In 2040, according to estimates by the Arab Monetary Fund, unemployment rates are expected to rise
Among young people from their current level of about 1.26 per cent to about 49 per cent
In 2040.
More complex to challenge unemployment in the Arab world, your neighborhood
Global transformations will impose dimensions
Is expected under the technologies associated with the Fourth Industrial Revolution and its subsequent automation
A number of jobs would result in a net loss of unskilled labor
Between 25 and 50 per cent.
Another important challenge for Arab countries is that
In the capacity of Arab governments to provide the necessary funding to meet the goals of sustainable development
2030, in the light of estimates that developing countries are facing a funding gap to meet
The United Nations estimates that annual development goals are estimated at $ 5.2 trillion per year
United Nations.
Although the Arab countries as a group have been successful in recording a number of successes
International institutions in achieving a number of previous MDGs
The region continues to face significant challenges in this area, especially in reducing rates
Our Arab countries have not been able to achieve the goal of eradicating extreme poverty
Which is included in the Millennium Development Goals by 2015, and was the only region on
The world's high rates of extreme poverty, not to mention the high proportion of the population
Arab countries fall below the international poverty line to about 40 per cent of the population of States
Arabic.

Your Excellencies,
Dear sisters and brothers,

Given the various challenges mentioned above, the need remains at the country level
All Arab countries to adopt policies to meet existing challenges and work to ensure
A better future for future generations. In this context I would like to refer in particular to
A number of key drivers of our Arab economies during the next phase, including:
- The importance of making a qualitative shift in the structure of the Arab economic structures in order to shift towards
High value-added sectors providing more job opportunities to raise rates
Economic growth and employment to the rates that our countries aspire to by continuing
Provide the resources needed to implement economic diversification strategies and support sectors
The knowledge economy, which is one of the main pillars for supporting economic stability
And social issues.
- The need to continue fiscal reforms in order to achieve fiscal discipline and ensure
Financial sustainability and providing more resources to support social spending
Concrete successes
And capital to stimulate economic activity
Group of Arab States
In this regard, which has decreased the impact of the budget deficit
As a group from 4.11 per cent in 2015 to 5.6 per cent in 2018
In light of which a number of Arab countries are expected to restore their financial balances in a predictable manner
By 2023.
- Adopting radical reforms to reduce unemployment rates with the necessary reform
Arab labor markets, increased levels of flexibility, dynamism and increased access
To funding. In addition to adopting policies to raise the quality of education and policy guidance
In the labor market
To dynamic areas that are more in demand
Outlook for future jobs. Estimates show that 65 per cent of the students
Worldwide, at the age of 12 years, they are now preparing for non-existent jobs
As indicated by the World Economic Forum, which requires development
Currently according to
Education observatories and labor market needs to ensure dynamic relationships and nutrition
Interactive between the education and labor markets.

- Arab governments enter into successful partnerships with the private sector to finance the structure
And development projects that will achieve the goals of sustainable development
Private sector. UN estimates indicate
Which can provide a rewarding return
Achieving sustainable development goals can create opportunities for the private sector with value
$ 12 trillion in food, agriculture, sustainable cities and energy
Materials, health and welfare alone, creating 380 million new jobs by the year
2030, which is better for Arab governments to count on. Do not miss me in this context
AQA recently turned to appreciation for the efforts of some Arab countries to provide
Legislative frameworks to stimulate public-private partnerships
Is one of the key pillars for the success of such projects.
- Intensify efforts to develop the financial sector in the Arab countries to support opportunities
Access to finance and financial services, the development of domestic capital markets, and promote
Regional financial integration. Enhancing access to finance and financial services
For different economic sectors, geographical areas and community groups, especially young people
Women, micro, small and medium enterprises and accelerate availability
Financing for emerging projects will contribute to the creation of significant potential and opportunities
Increasing work, reflecting positively on efforts to address unemployment and support development
Economic and social development.
Your Excellencies,
Dear sisters and brothers,
It is doubtful whether the ability of Arab governments to meet these challenges requires intensification
The efforts of Arab financial institutions in the coming period to provide financial and technical support
And capacity-building for the Arab countries to move forward with the implementation of economic reforms
And provide financial resources to stimulate growth, reduce unemployment and meet goals
Sustainable development in accordance with participatory frameworks aimed at ensuring the integration of the efforts of Arab institutions
To maximize the expected return of each institution's interventions, and to benefit from
Opportunities offered by international cooperation with international partner institutions.

Your Excellencies,
Dear sisters and brothers,
As part of its strategy for the years 2015-2020, the Arab Monetary Fund is supporting
Member States' efforts to meet current and future challenges to achieve their vision of
"The Fund should be a leading Arab financial institution in the area of ​​economic reform
Finance and cash to reach the stability centers in the Arab region. "
In this context, IFAD is intensifying its efforts to meet the funding needs of the Arab countries
During the year 2018, five new loans were provided to its Member States,
US $ 793 million, while the 2019 lending plan includes loans worth US $ 793 million
To reach US $ 2.1 billion.
IFAD, under the new and existing loans framework, provides financial and technical support to the reform programs
F
Economic and structural development in Member States that are involved in various aspects, including the efforts of States
To create an enabling environment for SMEs to support the role of SMEs
In providing employment opportunities and accelerating overall and sustainable growth through the provision of finance
To support reforms in the SME sector, which is complementary
With the role of sister Arab financial institutions, which provide direct financing for these projects
And helps to make it successful in this regard.
IFAD is also continuing its efforts to provide financial and technical support to member countries
Financial and banking reform, reforms in the government financial sector,
And macro-economic reforms. The Fund also provides funding to meet needs
Emergency situation in a number of Member States in order to strengthen the balance of payments position and situation
Economic growth.
The Fund also works to develop its systems, policies and financial resources in a strategic framework
Medium and long term to meet the needs of Member States for funding and support
Economic and financial reform and strengthen their economies' resilience
Different challenges.

The Fund continues its efforts to develop the financial sector as part of its strategy
Through a number of integrated financial sector development tracks
Banking and nonbanking to increase access to finance and financial services to improve
Levels of financial inclusion. In this context, IFAD is working to develop a development initiative
Bond markets in the Arab countries, in cooperation with regional and international financial institutions, including
Of support for the development of domestic debt instruments markets in countries contributes to the provision of more
And enhances its role and contributions in meeting increasing funding needs.
In addition, IFAD works within the framework of the Regional Initiative to Enhance Financial Inclusion
Arab countries to improve access indicators for all economic sectors
And social groups in Arab countries, especially SMEs
Contributes to supporting overall economic and social development opportunities.
One of the most important contributions of the Initiative is the development of a comprehensive model of demand-side statistical surveys
 For the individuals and households sector or for the microenterprise sector
On SAWA Financial Services

Small and medium. These surveys represent technical assistance to Arab countries to prepare statistics
And developing relevant indicators on the basis of which appropriate policies and programs can be developed.
In addition to these surveys, the Fund was keen to cooperate with partner institutions to provide
Technical advice to a number of Arab countries in policy development and strategy
And programs that help to improve financial coverage.
Topics of financial techniques k
On the other hand, the Arab Monetary Fund pays close attention to Berra
Aware of the great opportunities offered by these technologies to enhance inclusiveness
Financial systems and innovations contribute to the provision of financial services at prices
Affordable to individuals who do not benefit from banking services in order to strengthen and consolidate
Financial Coverage in the Arab Region. The Fund was committed to its responsibility as a technical secretariat
To include the programs of meetings of the Council of Arab Ministers of Finance and the Board of Governors of Banks
The Arab Monetary Institutions and their committees and task forces
Applications of modern financial techniques and their implications for the economy, stability and comprehensiveness
In order to encourage exchanges of experience and expertise in this regard.



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[url=https://www.amf.org.ae/sites/default/files/%D9%83%D9%84%D9%85%D8%A9 %D9%85%D8%B9%D8%A7%D9%84%D9%8A %D8%A7%D9%84%D9%85%D8%AF%D9%8A%D8%B1 %D8%A7%D9%84%D8%B9%D8%A7%D9%85 %D8%AE%D9%84%D8%A7%D9%84 %D8%A7%D9%84%D8%AC%D9%84%D8%B3%D8%A9 %D8%A7%D9%84%D8%B3%D9%86%D9%88%D9%8A%D8%A9 %D9%84%D9%84%D9%87%D9%8A%D8%A6%D8%A7%D8%AA %D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D8%A7%D9%84%D9%83%D9%88%D9%8A%D8%AA 2019.pdf]https://www.amf.org.ae/sites/default/files/%D9%83%D9%84%D9%85%D8%A9%20%D9%85%D8%B9%D8%A7%D9%84%D9%8A%20%D8%A7%D9%84%D9%85%D8%AF%D9%8A%D8%B1%20%D8%A7%D9%84%D8%B9%D8%A7%D9%85%20%D8%AE%D9%84%D8%A7%D9%84%20%D8%A7%D9%84%D8%AC%D9%84%D8%B3%D8%A9%20%D8%A7%D9%84%D8%B3%D9%86%D9%88%D9%8A%D8%A9%20%D9%84%D9%84%D9%87%D9%8A%D8%A6%D8%A7%D8%AA%20%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D8%A7%D9%84%D9%83%D9%88%D9%8A%D8%AA%202019.pdf[/url]

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In the same context, IFAD launched the Regional Working Group on Modern Financial Technologies, by the end of the year
2018, in order to study the topics of modern financial techniques, consultation and exchange of experiences
And knowledge on their issues and the development of different visions for revitalization and organization in the Arab countries.
The group includes representatives of central banks, Arab monetary institutions and ministries
Financial institutions, capital markets, commercial banks and financial services companies
Representatives of the providers of modern financial technology services in Arab countries, experts from the number
Regional and international financial institutions and frameworks, as well as a number of sector institutions
Special in the field of modern financial techniques.
The Arab Monetary Fund has also intensified its efforts during the past period to implement the "clearing system"
Arab "in coordination with the central banks and Arab monetary institutions, and financial institutions
To direct the clearing system
Related to the implementation of all requirements of the implementation stage,
Arab countries to provide services that will help enhance opportunities for regional financial integration.
Your Excellencies,
Dear sisters and brothers,
In terms of capacity building, IFAD works in the light of its current strategy and direction
IFAD's strategy for future periods will increase the number of training courses to meet the needs of the
The ambitions of the member countries, where the number of training courses has doubled to 40
Per year on all economic, financial, statistical and sector-related issues
Financial institutions. The Fund also studies tele-training to benefit from training opportunities
And capacity-building on all economic and financial issues.
As part of the Arabstat initiative, the Arab Monetary Fund (AMF) is working on scouring statistical structures
To apply international evidence and methodologies and to provide reliable, comprehensive and accurate data
And the quality required to all beneficiaries, especially decision makers. Under the initiative
Advanced, and econometric,
Organize a package of training activities on statistical analysis
Economic modeling, and other topics for the benefit of Arab cadres
Statistics, finance ministries, central banks and Arab monetary institutions. As was

A number of technical missions were carried out in cooperation with international institutions in the field of national statistics
To a number of Arab countries to strengthen and build capacity.
On the other hand, the Fund continues its continuous efforts to develop its research activities to support my clients
Decision makers and policymakers in Arab countries through the promotion of reports and studies
And publications dealing with priority themes for member countries, among them
Unified Arab Economic Report, Arab Economic Outlook, and a report on
Reform road. The Fund recently launched a new research series entitled "
Policies "to support policymakers.
IFAD also continues to focus on strengthening cooperation with regional and international financial institutions
Economic groups, central banks and global development agencies. On the one hand,
IFAD has expanded its joint activities with these institutions and bodies to serve the needs of the organization
Arab countries, participating in technical advisory missions and organizing workshops
Conferences or in the preparation of joint reports and studies. On the other hand, work
IFAD has promoted the participation of regional and international institutions in the work of a Council of Ministers
Arab Finance Council, Central Bank Governors, Arab Monetary Institutions and Committees
And the ensuing difference, through the submission of working papers in meetings of councils and committees
Provides an opportunity to transfer experiences and experiences on the issues and topics at hand. As he seeks
IFAD also intensified its cooperation with relevant institutions in member countries of the World Bank
A number of economic, financial, banking, statistical and research fields
Develop its activities and activities in response to the needs and priorities of Arab economies.
Your Excellencies,
Dear sisters and brothers,
In the context of the challenges mentioned above and at the end of four years under the strategy
(2015-2020), IFAD has intensified its efforts over the past two years
To develop his long-term vision 2040, to guide overall strategic planning
And to begin developing the following five-year strategic features (2020-2025) in particular
Taking into account the different economic conditions of Member States and the nature of future challenges

Facing member countries. Over the next two decades,
"The closest partner to Arab countries in their interaction with developments to promote stability
Economic, financial and monetary development ".
The Arab Monetary Fund's strategy (2020-2025) includes about 265 countries. Done
Formulate the activities included in IFAD's strategy to reflect its future vision
And strategic directions. So that the Arab Monetary Fund will be the closest partner to the Arab countries
In their interaction with developments to promote economic and financial stability and development
And monetary, must be able to meet their growing needs, which requires strengthening
IFAD's lending resources. Accordingly, the next strategy included targeted activities
Increase IFAD's lending resources.
IFAD interventions must be more efficient in meeting the specific needs of the Fund
Particularly through technical assistance activities and capacity-building. And be
 that
IFAD's activities are mainly aimed at supporting the efforts of member countries to overcome
Economic challenges, through activities aimed at supporting the efforts of Arab countries
Overcoming internal and external economic imbalances, and supporting diversification efforts
Economic development and financial sector development.
Although part of the Fund's activities under its new strategy focuses on support
Member States' efforts to overcome the inherited and current economic challenges, but IFAD
At the same time, time must be racing ahead to explore the future and study economic trends
And its implications for the Arab countries, and to help the Arab economies to be
More suited to those repercussions, including those resulting from the Fourth Industrial Revolution. Each
This requires, for example, a focus on activities related to the accompanying technologies
The fourth industrial revolution such as artificial intelligence, modern financial techniques, and energy storage
And other future shifts that will have potential implications for economies
Prospectively across the five strategic years.
Arabic, and in Arabic these activities take on a character
In addition, the Arab Monetary Fund recognizes the nature of the challenges facing countries
As well as other emerging economies and developing countries

Sustainable Development Goals 2030, there was a vision to focus IFAD activities in a framework
Its future strategy will also address a number of issues related to the achievement of these goals
Empowerment of women, sustainable financing and poverty eradication.
Your Excellencies,
Dear sisters and brothers,
These are some of the highlights of the Fund's activities that we intend to emphasize and develop at this stage
In order to strengthen the leading role of this Arab financial institution. And
The success of these endeavors is undoubtedly linked to the support and encouragement of the Board of Governors of the Fund,
On this occasion to listen to all advice and advice including me
Looking forward, the Fund was able to
To achieve the aspirations of its Member States.
Your Excellencies,
Dear sisters and brothers,
I have no choice but to thank and thank the UAE
The United Arab Emirates and the Arab Trade Financing Program (AFF) are to be provided to all countries
Facilities that help IFAD and WFP achieve their objectives.
In conclusion, I can only thank once again our dear country, the State of Kuwait
And government
For this dear country
And the generous and hospitable people for hosting the meetings
Progress and prosperity, and I wish our meetings every success.
Peace and mercy of God be upon you and his blessings,


[url=https://www.amf.org.ae/sites/default/files/%D9%83%D9%84%D9%85%D8%A9 %D9%85%D8%B9%D8%A7%D9%84%D9%8A %D8%A7%D9%84%D9%85%D8%AF%D9%8A%D8%B1 %D8%A7%D9%84%D8%B9%D8%A7%D9%85 %D8%AE%D9%84%D8%A7%D9%84 %D8%A7%D9%84%D8%AC%D9%84%D8%B3%D8%A9 %D8%A7%D9%84%D8%B3%D9%86%D9%88%D9%8A%D8%A9 %D9%84%D9%84%D9%87%D9%8A%D8%A6%D8%A7%D8%AA %D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D8%A7%D9%84%D9%83%D9%88%D9%8A%D8%AA 2019.pdf]https://www.amf.org.ae/sites/default/files/%D9%83%D9%84%D9%85%D8%A9%20%D9%85%D8%B9%D8%A7%D9%84%D9%8A%20%D8%A7%D9%84%D9%85%D8%AF%D9%8A%D8%B1%20%D8%A7%D9%84%D8%B9%D8%A7%D9%85%20%D8%AE%D9%84%D8%A7%D9%84%20%D8%A7%D9%84%D8%AC%D9%84%D8%B3%D8%A9%20%D8%A7%D9%84%D8%B3%D9%86%D9%88%D9%8A%D8%A9%20%D9%84%D9%84%D9%87%D9%8A%D8%A6%D8%A7%D8%AA%20%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D8%A7%D9%84%D9%83%D9%88%D9%8A%D8%AA%202019.pdf[/url]




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Alaq is deputy chairman of the Board of Governors of the Arab Monetary Fund




 04/29/2019

Samir Nusairi

 

On April 25, the Arab Monetary Fund (AMF) organized the tenth session of the Council of Arab Ministers of Finance to discuss the support of small and medium enterprises, the requirements of developing social security systems, strengthening public debt management and benefiting from modern technologies to improve tax systems and services and follow up progress in the Arab clearing project. During the session, the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alak, was elected as Deputy Chairman of the Board of Governors of the Arab Monetary Fund at its current session and as Chairman of the Board for the next session.

The renewal of confidence by the Arab banks that are members of the Fund with the Iraqi economy and the efforts exerted by its national economic institutions, in particular the evaluation of the great role of the Central Bank of Iraq during the past four years on the level of internal construction and development in the applications of monetary policy and the level of building strong international financial and banking relations with The Arab countries and foreign countries where the institutions were able to achieve clear achievements during the economic and security shocks experienced by Iraq after the middle of 2014 and contributed to the economic steadfastness, which helped our armed forces to achieve the text On the expeditious terrorism.

Therefore, through the review, analysis and evaluation impartially and transparently of the Iraqi economic situation and in particular is being investigated by the ministries and economic institutions in Iraq from a competent point of view has been reached facts and evidence and signs and achievements confirm that the Central Bank of Iraq proved to be the first economic institution through its important achievements in supporting the economy And achieve economic steadfastness and strive to achieve economic stability in accordance with its strategy and  [size=19]this is achieved by the work and reality and the team of the Central Bank of Iraq National Excellence. As he contributed to the victory of victory over terrorism accompanied by another victory is the steadfastness and economic victory, which was the team of the Central Bank of Iraq and its governor a key role and leading in achieving.[/size]

[size=19]And the economic victory achieved results, most notably the most important support the state treasury and stabilize the exchange rate and recovery of the Iraqi dinar and reduce inflation and maintain the rate of less than (2%) and maintain a cash reserve sufficient by 160% as cumulative accumulator according to the latest standard of the IMF with a reserve of gold within The adoption of  standards and controls in line with the requirements of international standards in compliance and combating money laundering and terrorism financing and the basic objectives and subsections of its strategy and the activation and consolidation of new visions of monetary policy applications and the important thing that is achieved is stability Exchange rate and reduce the gap between the official price of the US dollar and the parallel price, [/size]

a key objective of monetary policy.

And the implementation of policies to restore confidence in the banking transactions of Iraqi banks with Arab and foreign banks and the quest to build a solid banking sector and the continuation of extraordinary efforts to improve the banking reputation of institutions and international financial organizations and correspondent banks.

The establishment of strong relations with the Arab and foreign central banks and the international financial organizations. Also, procedural, regulatory, structural and internaldevelopment policies have been drawn up  , which aim at achieving financial stability and developing the banking business technically, structurally and organizationally and raising the financial coverage to the target ratio. And the mechanisms of banking which formed a solid base on the domestic and external scale. It was all these achievements that called on the governors of Arab banks to elect the relations of Na'aba and the President of their Council in the next session, which is an embodiment that Iraq's economy is recovering and recovering from its crises and that is a tribute to the Iraqi people and its economic, financial and banking institutions.

http://economy-news.net/content.php?id=16467

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[rtl]The President of the Iraqi Trade Bank, Mr. Faisal Al-Hims, visited the Honorable Governor of the Central Bank of Iraq, Dr. Ali Al-Alaq.[/rtl]
[rtl]The President of the Bank congratulated the Iraqi Trade Bank, represented by its Board of Directors and all its members, to His Excellency Dr. Ali Al-Alaq on his election as Deputy Chairman of the Board of Governors of the Arab Monetary Fund.[/rtl]


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