Dinar Daily
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Get Daily Updates of the NEWS & GURUS in your EMAIL
CHECK YOUR EMAIL for VERIFICATION

Enter your email address:

THE ARAB MONETARY FUND PROVIDES A NEW AUTOMATIC LOAN TO THE HASHEMITE KINGDOM OF JORDAN IN THE AMOUNT OF 10 MILLION ARAB ACCOUNT DINARS, EQUIVALENT TO ABOUT 41 MILLION US DOLLARS, TO MEET THE CURRENT CHALLENGES DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

THE ARAB MONETARY FUND PROVIDES A NEW AUTOMATIC LOAN TO THE HASHEMITE KINGDOM OF JORDAN IN THE AMOUNT OF 10 MILLION ARAB ACCOUNT DINARS, EQUIVALENT TO ABOUT 41 MILLION US DOLLARS, TO MEET THE CURRENT CHALLENGES

Go down

THE ARAB MONETARY FUND PROVIDES A NEW AUTOMATIC LOAN TO THE HASHEMITE KINGDOM OF JORDAN IN THE AMOUNT OF 10 MILLION ARAB ACCOUNT DINARS, EQUIVALENT TO ABOUT 41 MILLION US DOLLARS, TO MEET THE CURRENT CHALLENGES Empty THE ARAB MONETARY FUND PROVIDES A NEW AUTOMATIC LOAN TO THE HASHEMITE KINGDOM OF JORDAN IN THE AMOUNT OF 10 MILLION ARAB ACCOUNT DINARS, EQUIVALENT TO ABOUT 41 MILLION US DOLLARS, TO MEET THE CURRENT CHALLENGES

Post by claud39 on Fri Sep 11, 2020 11:41 am

THE ARAB MONETARY FUND PROVIDES A NEW AUTOMATIC LOAN TO THE HASHEMITE KINGDOM OF JORDAN IN THE AMOUNT OF 10 MILLION ARAB ACCOUNT DINARS, EQUIVALENT TO ABOUT 41 MILLION US DOLLARS, TO MEET THE CURRENT CHALLENGES


2020-09-11



THE ARAB MONETARY FUND PROVIDES A NEW AUTOMATIC LOAN TO THE HASHEMITE KINGDOM OF JORDAN IN THE AMOUNT OF 10 MILLION ARAB ACCOUNT DINARS, EQUIVALENT TO ABOUT 41 MILLION US DOLLARS, TO MEET THE CURRENT CHALLENGES Logo-ar








The Arab Monetary Fund is keen to support the efforts of its member states to implement economic, financial and structural reforms and face various challenges, through a number of means, including providing financing to meet the needs of balance of payments and public budgets, and financing trade through its Arab Trade Financing Program, in addition to its role in promoting Consultation and discussion on economics, finance and development issues through its various frameworks and activities, providing technical advice to member states in the field of economic, financial and monetary policies, and providing training for government employees in member states through the Training and Capacity Building Institute at the Fund.



The Fund is interested in providing financial and technical support to its member states during this period in particular in light of the developments occurring due to the Covid-19 virus, and the implications thereof on the economic and financial levels in its various aspects. To stimulate the economy and provide liquidity, with the aim of containing the negative effects of the virus outbreak.



In this context, the Fund provided a new automatic loan to the Hashemite Kingdom of Jordan, in the amount of 10 million Arab account dinars, equivalent to about 41 million US dollars, the agreement was concluded on Sunday, September 6, 2020, when the Hashemite Kingdom of Jordan was signed by His Excellency Dr. Muhammad Al-Issas His Excellency Dr. Abdul Rahman bin Abdullah Al Hamidi, Director General and Chairman of the Board of Directors of the Fund, on behalf of the Fund, with the aim of providing financial resources to support the financial situation of the Kingdom and meet urgent needs.



The Fund closely follows the developments of the Jordanian economy and the challenges it faces due to the current circumstances, and works through a fruitful partnership with the Jordanian government to provide the most effective means to face the various challenges. On May 14, 2020, the Hashemite Kingdom of Jordan withdrew the second batch of the loan to facilitate structural adjustment in the financial sector. And the bank agreed upon on February 14, 2019, at an amount of 9.2 million Arab account dinars, equivalent to about 38 million US dollars, to support reform efforts and face various challenges.



The Fund is also currently studying requests from a number of member states to benefit from its financial resources, and is working to complete procedures in this regard, to ensure the provision of support as quickly as possible, and to enable member states to meet financing needs and strengthen their financial positions to meet various challenges, especially in such areas as These times.   






















INTRODUCING THE COUNCIL








Central banks and Arab monetary institutions started holding meetings at the level of governors since 1972, where the first meeting was held in Cairo in September 1972, followed by the second meeting in Baghdad in February 1975, and then the third meeting in Amman in July 1978. An agreement was reached between Gentlemen, during this third meeting, to hold annual meetings for them within the framework of a council called the Council of Governors of Central Banks and Arab Monetary Institutions, and under the umbrella of the League of Arab States.



In its fifth meeting, which was held in Riyadh in October 1980, the Council approved the procedural rules for its work. Among the most important of these procedural rules is the assignment of the technical secretariat to the Arab Monetary Fund in light of the objectives and goals that the fund seeks to achieve. The procedural rules also included the establishment of a permanent office for board meetings in order to follow up on meeting decisions and prepare for future meetings. The permanent office consists of the chairman of the council's league, the vice president and the governor of the Central Bank of Egypt, as the Arab Republic of Egypt, the headquarters state of the League of Arab States, and the governor of the Central Bank of the United Arab Emirates, as the United Arab Emirates, the headquarters country of the Arab Monetary Fund. The permanent office also includes the Director General, Chairman of the Board of Directors of the Arab Monetary Fund, and the Assistant Secretary-General of the League of Arab States for Economic Affairs.



The objectives of the Council are to consolidate the important role played by central banks and Arab monetary institutions, and to work towards achieving more cooperation and exchange of experiences in the field of central banking among Arab countries. As well as working to coordinate the positions of Arab countries in facing international monetary problems in order to achieve their common interests and at the same time contribute to solving global monetary problems.



Within the framework of these purposes, the Board of Governors of Central Banks and Arab Monetary Institutions prepares and approves a draft of the unified Arab letter that is submitted annually on behalf of the Arab Group at the annual meetings of the International Monetary Fund and the World Bank. The Council also discusses and approves the unified Arab economic report prepared by Arab financial institutions on the annual economic developments in the Arab countries.



In recognition of the importance of strengthening cooperation, coordination and exchange of experiences and expertise in the field of banking supervision, the Council established in 1991 a committee emanating from it, the Arab Committee for Banking Supervision, which includes directors of banking supervision departments in Arab central banks, with the aim of studying developments in the field of banking supervision and applying Basel standards. In the same context, and in recognition of the importance of cooperation in the field of payment and settlement systems, the Council established in 2005 a committee emanating from it, the Arab Committee for Payment and Settlement Systems, which includes managers concerned with developing payment and settlement systems in Arab central banks. Finally, in light of the increasing interest in issues of financial inclusion and access to financial and banking services, the Council approved in 2012 the establishment of a specialized regional working group to promote financial inclusion in Arab countries, affiliated to the Arab Committee for Banking Supervision.



The annual meetings of the Council include, in addition to discussing the draft of the unified Arab economic report and the draft unified Arab discourse, reviewing the report and recommendations of the Arab Committee for Banking Supervision and the report and recommendations of the Arab Committee for Payment and Settlement Systems. There is also a permanent item on the agenda, represented in the exchange of experiences and expertise between Arab central banks, where the experiences of some Arab central banks are reviewed on topics and issues related to the work of central banks. These annual meetings also represent an opportunity to study regional and international economic and banking developments and situations.



These annual meetings are attended as observers by the Arab Fund for Economic and Social Development, the Union of Arab Banks, the Union of Arab Securities Commissions, and the Arab Executive Directors of the International Monetary Fund and the World Bank.

















MEMBERS LIST









[rtl]The Republic of Iraq [/rtl]
[rtl]
His Excellency Dr. Ali Mohsen Ismail
[/rtl]
[rtl]
Governor[/rtl]
[rtl]
The Central Bank of Iraq[/rtl]
[rtl]
Baghdad - Republic of Iraq[/rtl]






https://www.amf.org.ae/ar/page/%D9%82%D8%A7%D8%A6%D9%85%D8%A9-%D8%A7%D9%84%D8%A3%D8%B9%D8%B6%D8%A7%D8%A1
claud39
claud39
VIP NewsHound
VIP NewsHound

Posts : 16065
Join date : 2018-11-04

View user profile

Back to top Go down

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum