Arab Monetary Fund marks 50 years with $11.8bn in financing
The Arab Monetary Fund (AMF) has provided more than $11.8 billion in financing to member states over the past five decades as it marks its 50th anniversary in Abu Dhabi . The UAE hosted the AMF’s Golden Jubilee celebration on Monday, bringing together Arab finance ministers, senior officials and representatives from international institutions including the World Bank Group and the Organisation…
The Arab Monetary Fund (AMF) commemorates its 50th anniversary in Abu Dhabi with a $11.8 billion in financing to its member states. UAE hosted the Golden Jubilee event on Monday, with finance ministers, senior officials and representatives from international institutions present. The AMF, established in 1976, has delivered over 400 training programs to 20,000 people and increased its capital to nearly $10 billion.
UAE Minister of State for Financial Affairs, Mohamed bin Hadi Al Hussaini, outlined plans to convert 50% of federal government operations to AI models within two years. UAE also reaffirmed its commitment to global tax standards and minimum top-up tax by 2025. AMF's activities include developing regional payment infrastructure, like the Buna payment system, to bolster financial integration and intra-Arab trade.
The World Bank Group and OECD discussed sustainable infrastructure financing and implementing international standards on base erosion and profit shifting, respectively.
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