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THE BOARD OF DIRECTORS OF THE ARAB MONETARY FUND HOLDS ITS 94TH MEETING ON THURSDAY, MARCH 12, 2020
The Arab Monetary Fund continues its efforts in pursuing economic and financial reform programs in its member states to meet the various challenges.
The fund is intensifying its efforts to complete the establishment of the regional institution for the clearing and settlement of Arab payments.
The fund provides 265 training hours through 7 training courses for Arab official cadres,
During the first quarter of 2020
Today, Thursday, March 12, 2020, the hundred and ninety-fourth meeting of the Board of Executive Directors of the Arab Monetary Fund was held in Abu Dhabi, headed by Dr. Abdul Rahman bin Abdullah Al Hamidi, General Manager and Chairman of the Board. The meeting reviewed the developments of the Fund's activities, and the most important things it did in its various fields of work since its last meeting in December 2019, within the framework of its five-year strategy (2015-2020).
With regard to the lending activity , the Board took note of loan requests submitted by member states to benefit again from the Fund's resources, developments related to existing loans, as well as the results of follow-up missions dispatched by the Fund to assess the progress of the implementation of the agreed reform programs, supported by loans from the Fund.
On the other hand, the council’s agenda included a review of developments in the fund’s investment activity, including the activity of accepting deposits from central banks and Arab monetary institutions, the performance of investment portfolios, developments in global financial markets, and the measures taken to implement the fund’s investment strategy.
The Council was also informed of the training opportunities provided by the Fund during the first quarter of 2020 for Arab cadres in the official economic, financial, monetary and statistical institutions in the Arab countries, through its Training and Capacity Building Institute. The institute’s activities during the aforementioned quarter were to provide about 265 training hours by organizing 7 training courses, with the participation of technicians at the Arab Monetary Fund, and in cooperation with a number of international and regional organizations and institutions. The courses covered various economic topics that match the interests and training needs of the official Arab cadres.
The Council also reviewed the Fund's activity in the field of cooperation with local, regional and international financial organizations and institutions , where the third meeting of the Monetary Policy Working Group was organized, in cooperation with the Bank for International Settlements, to discuss issues related to global economic and financial developments, and their implications for the banking sector, and monetary policy management In the Arab countries, in addition to the Fund’s participation in the meetings, forums and seminars held on the sidelines of the G20 meetings, in the Kingdom of Saudi Arabia, during the month of February 2020.
With regard to the Fund's activity in the context of its role as a technical secretariat for the Board of Governors of Central Banks and Arab Monetary Institutions, the Council was informed of the organization of the Fund the eighteenth meeting of the regional working group to promote financial inclusion in the Arab countries, on 25 and 26 January 2020, and the eleventh meeting of the Financial Stability Task Force in the Arab countries , On February 5 and 6, 2020, and the twentieth meeting of the Arab Committee for Payment and Settlement Systems, on February 12 and 13 , 2020, and the meeting of the working group of the Arab Committee for Banking Supervision, on February 26 and 27, 2020, and the ninth meeting of the Arab Credit Information Committee, on 4 and 5 March 2 020,
During the meeting, the work progress in the project of establishing the regional institution for clearing and settlement of Arab payments "structures" was also reviewed, including the implementation of the technical system, the legal framework, procedural rules for the institution's operations, settlement currencies, and the strategy and pricing model for the services to be provided.
The Council also reviewed the efforts of the Fund, within the framework of its role as a secretariat for the Arab Finance Council, to hold the fifth meeting of the Undersecretaries of Finance ministries for Arab countries, during January 2020, and to prepare for the Fifth Forum on Public Finance, scheduled to be held in November 2020.
The Board was also informed of the Fund's latest versions of reports, research, publications, books and working papers since the previous meeting of the Board in December 2019.
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