Arab Monetary Fund

Arab Monetary Fund
Map of the Arab League
Administrative center		Abu Dhabi, United Arab Emirates
Official languages		Arabic
Type		Arab League institution Development finance institution
Membership		22 members Algeria Bahrain Comoros Djibouti Egypt Iraq Jordan Kuwait Lebanon Libya Mauritania Morocco Oman Palestine Qatar Saudi Arabia Somalia Sudan Syria Tunisia United Arab Emirates Yemen
Leaders
-	Director General / Chairman	Jassim Al Mannai
Establishment
-	Agreement	27 April 1976

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The Arab Monetary Fund (AMF) is a regional Arab organization, founded 1976, and operational from 1977. It is a working sub-organization of the Arab League.

Objectives

The Arab Monetary Fund's main objectives are to correct and balance the payment of its member states, remove payment restrictions between members, improve Arab monetary cooperation, encourage the development of Arab financial markets (paving the way for a unified Arab currency), and to facilitate and promote trade between member states.

Location and members

The AMF's headquarters are in the city of Abu Dhabi, the capital of the United Arab Emirates.

Member countries (22) are:

• Algeria
• Bahrain
• Comoros
• Djibouti
• Egypt
• Iraq
• Jordan
• Kuwait
• Lebanon
• Libya
• Mauritania
• Morocco
• Oman
• Palestine
• Qatar
• Saudi Arabia
• Somalia
• Sudan
• Syria
• Tunisia
• United Arab Emirates
• Yemen

Organization structure

The principal organs of the AMF are the Board of Governors, the Board of Executive Directors, and the Director-General. In the Board of Governors (General Assembly) each member state is represented by a Governor and a Deputy Governor. The Board of Executive Directors, composed of eight directors of renewable three-year terms, is chaired by the Director-General, who is appointed to the board for a renewable five-year term and also holds the position of Managing Director of the AMF. The organization distributes its work through various offices, departments and committees, and there are also other divisions, including administration, loans, legal, internal audit, treasury and investments.

See also

• Arab League
• Arab World
• Council of Arab Economic Unity (CAEU)
• List of Arab organizations

External links

• Arab Monetary Fund