Arab Monetary Fund Appoints Fahd Bin Mohamed Al-Turki As New Director-General, Chairperson

2023-11-21 02:10:01

(MENAFN- Daily News Egypt) The Council of Governors of the Arab Monetary Fund has decided to appoint Fahd bin Mohamed Al-Turki as the new Director-General and Chairperson of the Fund's Board of Directors. Al-Turki will take over from Abdulrahman bin Abdullah Al-Hamidi, who resigned from his position. Al-Turki will complete the remaining period of Al-Hamidi's current term, which ends on 5 March 2024, and will serve a new term from March 2024 to March 2029.

The Council of Governors expressed their gratitude to Al-Hamidi for his distinguished efforts and dedicated work during his tenure as the Director-General and Chairperson of the Fund. They praised his role in expanding and enhancing the Fund's activities and operations in various fields, such as financial support, capacity building, technical assistance, partnerships with regional and international financial institutions, and policy dialogue among Arab countries on various economic, financial, monetary, banking, and statistical issues. They also commended his vision for the Fund's future, which is aligned with the Fund's vision for 2040 to be the closest partner to its member countries.

Al-Hamidi thanked the Council of Governors for accepting his resignation and supporting the Fund during his presidency. He also wished Al-Turki success in his new responsibilities as the Director-General and Chairperson of the Fund's Board of Directors. He highlighted Al-Turki's competence and experience, which will help the Arab Monetary Fund and its sister institutions, namely the Arab Trade Financing Program and the Regional Institution for Clearing and Settlement of Arab Payments (Buna Payments Platform), to achieve their objectives and serve their member countries.

Al-Hamidi also expressed his appreciation to the staff of the Arab Monetary Fund, the Arab Trade Financing Program, and the Regional Institution for Clearing and Settlement of Arab Payments (Buna Payments Platform) for their efforts and dedication over the past years.

Fahd bin Mohamed Al-Turki has previously held several leadership positions, such as Vice President of the King Abdullah Petroleum Studies and Research Center, CEO of Jadwa Investment, and Chief Economist at the Middle East and Central Asia Department at the International Monetary Fund.

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