AMF & AGFUND sign MoU to promote economic development in Arab region

AMF & AGFUND sign MoU to promote economic development in Arab region

The Arab Monetary Fund (AMF) and The Arab Gulf Programme for Development (AGFUND) signed a memorandum of understanding on Wednesday, Dec 28, to promote economic development and achieve sustainable development goals in the Arab region through boosting financial inclusion and enhancing the role of the financial inclusion. The MOU will focus on supporting micro, small and medium-sized agricultural projects, and digital financial transformation, which contributes to accelerating the economic growth and creating job opportunities in the region, in addition to supporting legislations and supervisions of the financial systems including microfinance.

The memorandum was signed by His Royal Highness Prince Abdulaziz bin Talal bin Abdulaziz Al Saud, President of the Arab Gulf Programme for Development (AGFUND), and Dr Abdulrahman A. Al Hamidy, Director General Chairman of the Board – Arab Monetary Fund “amf”. AGFUND Board of Directors namely, Ghazi Almotawa, representative of the State of Kuwait, Nawaf Al-Sada, representative of the Kingdom of Bahrain, Mohsen Al-Bahli, representative of the State of Qatar, Muhammad Al-Mahrouqi, representative of Sultanate of Oman, and Dr. Nasser Al-Qahtani, Executive Director of AGFUND observed the signing ceremony.

The memorandum will help the two organizations coordinate and consolidate efforts to deal with issues related to the development of the financial