Arab Monetary Fund

Arab Intergovernmental institution established by an agreement signed in Rabat in April 1976 and entered into force on 2 February 1977. It is composed of all members of the League of Arab States, except the Comoros.

Its principal aims are:

  • to promote the stability of exchange rates among Arab currencies and render them mutually convertible;
  • to correct disequilibria in the balance of payments of member states i.a. by providing loans;
  • to establish policies of monetary cooperation and coordinate the positions of member states in dealing with international financial and economic problems.
  • Its final aim is to promote the use of a common currency, the Arab Dinar, at the prospect of the economic integration of its members.

The Arab Accounting Dinar (AAD), the unit of account of the Arab Monetary Fund, is equivalent to 3 IMF Special Drawing Rights.

The headquarters of the Arab Monetary Fund are in Abu Dhabi (United Arab Emirates). The Director General of the Fund and Chairman of the Board of Executive Directors is Dr. Jassim Abdullah AL-MANAI, from Bahrain).

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