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MENAFN- Mid-East Info) Five Decades of Financial and Economic Integration in Focus
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Mohamed bin Hadi Al Hussaini:
This historic occasion offers an opportunity to reflect on 50 years of dedication and achievement, and on the Fund's enduring contributions to monetary and financial stability across Arab countries
Fahad M. Alturki:
We continue to build on five decades of work and achievement, guided by the Fund's vision of advancing economic stability and sustainable growth
Highlights
Documentary showcases the Fund's defining milestones and its development and financing achievements
Exhibition brings the Fund's 50-year journey to life across two pavilions, from its establishment and support for member states to milestones in digital transformation and financial inclusion
Discussions examine fiscal conditions and policies across Arab countries and highlight AI applications in tax administration
Founders and successive leaders who have steered the Fund honoured for their contributions to its journey
The Fund in numbers
More than USD 11.8 billion in financing provided
Over 400 training programmes delivered to 20,000 participants
Capital doubled to nearly USD 10 billion
Regional payment systems developed, including the Buna Payment System
The United Arab Emirates hosted the official Golden Jubilee celebration of the Arab Monetary Fund (AMF) in Abu Dhabi, marking 50 years since its establishment, under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE.
The historic high-level event underscored Abu Dhabi's position as a regional hub for financial decision-making and a platform bringing together financial leaders to help shape financial policy and align Arab perspectives in response to rapid shifts in the global economy.
Organised by the Ministry of Finance in collaboration with the Arab Monetary Fund, the celebration brought together Arab finance ministers and representatives of regional and international financial institutions, including the World Bank Group (WBG) and the Organisation for Economic Co-operation and Development (OECD).
They were joined by senior officials, experts and financial decision-makers from across the Arab world and beyond to mark five decades of contribution and financial cooperation, alongside the 17th Ordinary Session of the Council of Arab Finance Ministers.
A Legacy of Achievement:
In his welcoming remarks, H.E. Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs and representative of the host country, said:“The Golden Jubilee of the Arab Monetary Fund marks a historic occasion to reflect on 50 years of dedication and achievement, and on the Fund's enduring contributions to monetary and financial stability and stronger economic cooperation among Arab countries.”
H.E. Al Hussaini stressed that the occasion was not simply a celebration of 50 years of achievement, but an opportunity to renew the commitment to advancing financial cooperation and building a more integrated and prosperous economic future.
He concluded by looking ahead to a new phase in which the Fund continues to play a pivotal role in keeping pace with rapid economic, financial and technological change, while further developing its instruments and programmes to support the region's economies in achieving greater stability, resilience and sustainable growth.
During the celebration, H.E. Dr. Fahad M. Alturki, Director General and Chairman of the Board of the Arab Monetary Fund, said the Fund continues to build on five decades of work and achievement, guided by its vision of serving as an effective pillar of economic stability and sustainable growth, while continuing to develop its role and instruments in response to the priorities and needs of member states.
He explained that the Fund is committed to strengthening partnerships with member states and regional and international financial institutions to deepen financial cooperation. It is also seeking to expand its financing and advisory support and capacity-building programmes, while developing infrastructure for digital payments and financial inclusion.
These efforts, he said, will help improve the efficiency of Arab financial systems and facilitate intra-Arab economic and trade exchanges.
Defining Milestones Across Five Decades:
The programme featured a documentary tracing the Fund's defining milestones and its development and financing achievements since its establishment in 1976.
Over the past five decades, the Fund has provided more than USD 11.8 billion in financing and delivered over 400 training programmes to 20,000 participants. It has also doubled its capital to nearly USD 10 billion and developed regional payment systems, including the Buna Payment System.
Guests also toured an exhibition bringing the Fund's 50-year journey to life across two main pavilions. The exhibition traced its establishment and support for member states through to key milestones in digital transformation and financial inclusion.
Shaping the Future of Arab Financial Stability:
Held alongside the Golden Jubilee celebration, the 17th Ordinary Session of the Council of Arab Finance Ministers reviewed the latest regional and global financial and economic developments and explored the future of Arab financial stability through practical pathways to strengthen the resilience of Arab economies. The session brought together Arab finance ministers and representatives of international financial institutions.
The agenda featured a series of specialised presentations and discussions. The Arab Monetary Fund presented an assessment of fiscal conditions and policies across Arab countries, as well as a presentation on applications of artificial intelligence in tax administration.
H.E. Mohamed bin Hadi Al Hussaini also highlighted the UAE's experience and the government's drive to convert 50% of federal government operations and services into Agentic AI models within two years.
He outlined the Ministry of Finance's use of these technologies across budgeting, payroll, procurement and final accounts, and reviewed results achieved under the Zero Bureaucracy Programme, including a 90% reduction in requirements and a 73% reduction in processing times.
The World Bank Group presented on Sustainable Finance for Sustainable Infrastructure, including approaches to using blended finance frameworks, while the OECD reviewed the latest developments in implementing standards on Base Erosion and Profit Shifting (BEPS).
During the session, the UAE reaffirmed its commitment to implementing these international standards and applying the UAE Domestic Minimum Top-up Tax (UAE DMTT) from 2025 in line with the Global Anti-Base Erosion (GloBE) Rules.
The meeting also discussed common issues and Arab countries' priorities for inclusion in the 2026 annual letters addressed to the President of the World Bank Group and the Managing Director of the International Monetary Fund.
On the sidelines of the session, a high-level workshop and roundtable on“Macroeconomic Resilience amid Geopolitical Disruptions” will be held on Tuesday, 29 September, and opened by H.E. Dr. Fahad M. Alturki.
The workshop will feature two main sessions. The first will examine the macroeconomic implications of geopolitical disruptions and economic uncertainty, as well as their impact on policymaking, with contributions from central bank governors and finance ministers.
The second session,“Strengthening Fiscal and Monetary Policy Coordination amid Heightened Global Uncertainty,” will examine ways to enhance coordination between the two policy areas.
During the session, the UAE will present its experience in establishing the Financial Stability Council and adopting dedicated plans to integrate artificial intelligence into financial stability monitoring.
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