Minister of State for Financial Affairs HE Obaid Humaid Al Tayer meets the Director General and Chairman of the AMF

Press release

Published July 30th, 2015 - 12:45 GMT

Al Bawaba

HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs received HE Dr. Abdulrahman Bin Abdullah Al Hamidy, Director General and Chairman of the Arab Monetary Fund (AMF) at the Ministry of Finance’s (MoF) premises Dubai, today.

The meeting between the two parties involved discussions about the means of strengthening bilateral ties and joint work between the UAE and other Arab countries through the AMF, and the AMF’s latest developments and future plans to support the economic development of Arab countries. HE Dr. Abdulrahman Bin Abdullah Al Hamidy reviewed the AMF’s 2015-2020 strategic plan that aims to expand the Fund’s activities and initiatives.

HE Dr. Abdulrahman Bin Abdullah Al Hamidy also reviewed the latest work developments of the Arab Committee on Payment & Settlement Systems, which included a study to highlight the importance of implementing those systems and their role in providing the chance to stop using foreign currencies when clearing and settling inter- Arab payments, and encourage the use of Arab currencies.

Background Information

UAE Ministry of Finance

The UAE Ministry of Finance (MoF) is responsible for implementing all fiscal, monetary and industrial policies related to the UAE’s economic development. Among its core responsibilities are the preparation and allocation of the Federal Budget and the management of the government’s financial position.