Arab Monetary Fund provided $11.8 billion in financing over 50 years — The National

In Abu Dhabi, UAE, the Arab Monetary Fund (AMF) marked its 50th anniversary. Over five decades of operation, the fund has provided member countries with more than $11.8 billion in financing. This was reported by The National.

The event, organized by the UAE Ministry of Finance jointly with the AMF, was attended by Arab finance ministers, senior officials, and representatives of the World Bank and the Organisation for Economic Co-operation and Development.

Fund performance

The AMF was founded in 1976. Since then, the fund's capital has more than doubled to nearly $10 billion. The fund has also held more than 400 training programs attended by about 20,000 people.

AMF projects include regional payment infrastructure, in particular the Buna system. It is being developed to support financial integration and intra-Arab trade.

AMF Director General and Chairman of the Board Fahad M. Alturki said that the fund plans to expand financing, advisory support, skills development programs, and digital payment infrastructure.

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Discussions at the meeting of ministers

The fund's anniversary coincided with the 17th regular session of the Council of Arab Finance Ministers. Participants discussed the state of public finances in the region, the use of artificial intelligence in tax administration, and strengthening economic resilience amid geopolitical uncertainty.

UAE Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini said that the country's government aims to shift 50% of federal government operations and services to agentic artificial intelligence models within two years. According to him, the Ministry of Finance uses such technologies in budgeting, payroll, procurement, and the preparation of final financial statements.

Al Hussaini also cited the results of the Zero Bureaucracy program: the number of requirements under it was reduced by 90%, while processing time was cut by 73%.

The UAE confirmed its commitment to apply a domestic minimum top-up tax from 2025 in line with OECD rules on the global minimum tax. World Bank representatives presented approaches to using blended finance for sustainable infrastructure, while the OECD provided information on implementing international standards to counter base erosion and profit shifting.