The Arab Monetary Fund and Islamic Financial Services Board Reinforce their Technical Cooperation for the benefit of Arab Countries

On Thursday, April 23,2020, in Abu Dhabi-United Arab Emirates, The Arab Monetary Fund (AMF) and Islamic Financial Services Board renewed their Memorandum of Understanding (MoU).  The new MoU aims at further enhancing the existing cooperation between the two institutions, establishing comprehensive framework for cooperation in providing technical assistance and capacity building in the Arab region,   promoting awareness of issues that are relevant or have an impact on the regulation and supervision of the Islamic financial services industry, in addition to other areas of common interest between the two institutions.

The MoU was signed by H. E. Dr. Abdulrahman A. Al Hamidy, Director General Chairman of the Board of the Arab Monetary Fund, and Dr. Bello Lawal Danbatta Secretary-General of the Islamic Financial Services Board.

By signing the MoU, it is hoped to enhance the collaboration in various fields of mutual interest such as training, capacity building, and promoting the development of a prudent and transparent Islamic financial services industry in the Arab region through introducing new or adopting existing international standards consistent with Shari'ah principles to provide support and guidance on the economic and financial stability, and financial inclusion in Member Countries.