Arab Monetary Fund (AMF)

Origin. The Agreement establishing the Arab Monetary Fund was approved by the Economic Council of the League of Arab States in April 1976 and the first meeting of the Board of Governors was held on 19 April 1977.

Aims. To assist member countries in eliminating payments and trade restrictions, in achieving exchange rate stability, in developing capital markets and in correcting payments imbalances through the extension of short- and medium-term loans; the co-ordination of monetary policies of member countries; and the liberalization and promotion of trade and payments, as well as the encouragement of capital flows among member countries.

Members. Algeria, Bahrain, Comoros, Djibouti, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Mauritania, Morocco, Oman, Palestine, Qatar, Saudi Arabia, Somalia, Sudan, Syria, Tunisia, United Arab Emirates, Republic of Yemen.