Arab Monetary Fund
Arab Monetary Fund (AMF)
Map of northern Africa and the Middle East indicating members of the Arab League.
|Headquarters||Abu Dhabi, UAE|
|Jassim Al Mannai|
|•||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.
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
Member countries (22) are:
- Saudi Arabia
- United Arab Emirates
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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 (IA), departments, committees, and divisions