Under the AMF's Articles of Agreement, these powers cannot be delegated to another body of the Fund. During the development of the Strategy Framework due reference was made to the needs of the Arab Countries. Within the context of support provided to the Arab countries, investment is one of the main activities of the Fund.
Annual meetings of the Council of Arab Central Banks and Governors of Monetary Authorities and. Applications of big data in Arab countries, - Development of the structure of foreign and. The Fund also acts as the technical secretariat of the Council of Arab Ministers of Finance.
The study highlighted the experiences of the Arab countries in compiling the balance of payments and the international investment position. The study was prepared based on the results of the Arab Monetary Fund's questionnaire on big data applications in the Arab countries. 34; The evolution of the structure of foreign and intra-regional trade in the Arab countries".
The Fund also participated in the ministerial meetings of the Arab Group with the President of the World Bank.
Training course in cooperation with the Central Bank of Germany on the "Monetary
In order to strengthen the basic operations that can be distinguished, there is great interest in automating the procedures of the training activity as much as possible, such as remote registration and continuous follow-up to ensure the effectiveness of the holding, organization and management of courses. The first part of the session covered the main definitions and concepts used in exchange rate analysis, including the analysis of exchange rate anomalies. Federal Reserve Bank on "Onsite and Offsite inspections of Banks" during the period February 11 -15, 2018, aimed at deepening participants' knowledge of the risk management and analytical concepts used in the types of censorship, whether they be office or The field.
Training course in collaboration with the IMF Center for Economic and Financial in
Training course, in collaboration with IMF Center for Economic and Financial in the
Training course, in collaboration with the Bank for International Settlements (BIS) on
Workshop, in collaboration with IMF Center for Economic and Financial in the Middle
Training course in collaboration with the technical staff, Economic and technical
34; Trade in Services" during the period 15-18 October 2018, aims to deepen the understanding of participants in the subject of trade in services in relation to policies, regulatory instruments and new ways of negotiations. skills" during the period 4-8 November 2018, with the aim of informing participants about the general framework of how national statistics for international trade in services are prepared.participants in the forecasting instruments of macroeconomic variables.
Mitigation methods", held during the period 4-6 December 2018, aims to inform participants about how bank supervision is carried out Based on the risk-based approach to money laundering and the financing of terrorism.
Training course held in the Hashemite Kingdom of Jordan in cooperation with the
Training course held in the Republic of Tunisia in cooperation with the Japan
These indicators reflect the robustness of the risk management of this activity and the attention the fund assigns to deposits from member countries. In addition, the Fund continued to manage investment portfolios directly for a portion of the funds from the Arab Trade Financing Program and funds in the Consolidated Account of Specialized Arab Organizations. In addition, the Fund continued to oversee the portfolios managed by external parties on behalf of the Arab Trade Finance Program in accordance with the approved investment policy and strategy.
The Arab Trade Finance Program (ATFP) was established in 1989 by virtue of a resolution adopted by the Board of Directors of the Arab Monetary Fund as a joint Arab specialized financial institution. The Council also discussed a number of reports and working papers relating to the work of the committees and task forces. The Council's agenda also included a number of issues of importance to Arab central banks and monetary authorities, in particular "the implementation of the Arab clearing project".
In March and September 2018, the Fund organized, in Abu Dhabi, the 5th and 6th meetings of the Arab Committee for Credit Information. Within this context, the Fund organized the ninth Council meeting, which was held on 10 April 2018 at the Dead Sea in the Hashemite Kingdom of Jordan. The meeting also reviewed the issues of applying international standards for the immediate exchange of financial information issued by the OECD.
According to Article (49) of the Articles of Agreement of the Arab Monetary Fund "Fund", assets, liabilities and transactions are expressed in Arab Accounting Dinars (AAD). The consolidated financial statements, which include the financial statements of the Arab Monetary Fund and the Arab Trade Financing Program "Subsidiary", are prepared in accordance with International Financial Reporting Standards promulgated by. This is in line with the objectives of the Fund, especially in relation to the fifth article of the AMF Agreement.
The total shareholders' equity of the Arab Monetary Fund and other shareholders in the subsidiary amounted to AAD 1,434,377 thousand by the end of 2018 compared to AAD 1,379,233 thousand by the end of 2017. The total consolidated administrative and general expenses of the Fund and the Subsidiary for the year, ended December 31, 2018 was AAD 6,255 thousand compared to AAD 5,927 thousand for the previous year. The Fund's investment in the subsidiary is included in the US dollar component of the Fund's assets.
AMF External Auditors Report &
Consolidated Financial Statements As of December 31, 2018
Organization and Management Structure
The organizational structure of the Arab Monetary Fund includes: The Board of Governors, the Board of Executive Directors and the Director General Chairman of the Board of Executive Directors. The Board of Governors consists of a governor and a deputy governor appointed by each member state of the Fund. The Board of Governors is the General Assembly of the Fund and has all the powers of management.
The AMF Board of Governors holds an annual meeting in the first half of each year in or outside the home country. Current composition of the Board of Governors Member States Governors and Deputy Governors The Hashemite Kingdom. Current Composition of the Council of Governors (continued) Member States Governors and Deputy Governors Sultanate of Oman Governor: H.E.
The Board of Directors is composed of the Director General of the Fund as Chairman and eight non-resident members elected by the Board of Directors for a renewable term of three years. The Board is charged with overseeing the activities of the Fund and provides advice when deemed necessary. The table below shows the composition of the Board of Directors at the end of December 2018.
The above voting power is affected by the temporary suspension of the voting power of Somalia. The Board of Governors appoints a Director-General of the Fund for a renewable term of five years, and the Director-General of the Fund chairs the meetings of the Board of Executive Directors. The Director General of the Fund is the chief of staff of the Fund and is responsible for all its work and submits an annual report on the work of the Fund to the Board of Governors at its regular annual meeting.
The Director-General assists in the completion of the Fund's work through professional staff organized into various departments. Five committees were formed, including two permanent committees, the Loan and Investment Committees, mentioned in the Fund's Articles Agreement, as well as the Administrative Committee established under the Staff Regulations, agreed to by the Board of Executive Directors and approved by the Board. of Governors and the Risk Management Committee, in addition to the Audit and Risk Committee arising from the Board of Executive Directors.
Appendixes
The Board of Governors of the Arab Monetary Fund, by resolution no. (3) of 2013 approved an increase of the authorized share capital of the fund by AAD 600 million to become AAD 1,200 million. The resolution also called for the subscription of AAD 300 million from Member States, half of which AAD 149.010 million to be paid by transfer from general reserves and the remaining half by cash transfer from Member States in five annual installments starting in April. 2014, and continued consideration of the postponement of the payment of the Palestinian share in
Appendix (B-1): Capital at 31 December 2018
Before 1988 Courses(AMF&VariousInst.) Courses Coordinated With IMF Courses Coordinated With WTO Workshops Workshops Coordinated With IMF Workshops Coordinated With WTO/IMF Workshops Coordinated With WTO SeminarsTotal Number of Activities.
