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Arab Monetary Fund (AMF): Regional Arab Organisation

04-MAY-2016 18:09

    The Arab Monetary Fund is a Regional Arab Organisation was founded in 1976 but started operations in 1977. Its headquarters are in the city of Abu Dhabi, the capital of the United Arab Emirates.
    The principal organs of the AMF are the Board of Governors, the Board of Executive Directors, and the Director-General. In the Board of Governors (General Assembly) each member state is represented by a Governor and a Deputy Governor. The Board of Executive Directors, composed of eight directors of renewable three-year terms, is chaired by the Director-General, who is appointed to the board for a renewable five-year term and also holds the position of Managing Director of the AMF. The organization distributes its work through various offices (IA), departments, committees, and divisions.

    Organisational Structure of Arab Monetary Fund (AMF)
    The organisational structure of AMF consists of the Board of Governors (General Assembly), and the board of executive directors chaired by the Director General Chairman of the Board.

    • Board of Governors: It represents all Arab countries through a governor and an alternate governor for each member-state. It convenes annually under the rules and procedures that govern the meetings and voting. The Board of Governors annually elects one governor as chairman on rotation.
    • Board of Executive Directors: It is composed of the Director General as Chairman and eight members elected by the Board of Governors from the citizens of member states with proven experience and expertise for three-year tenure.
    • Audit and Risk Committee:  is established under, and reports to, the Board of Executive Directors. The mandate of this committee is to assist the Board in its supervisory function. It is composed of three members who are independent of the executive management of the Fund and who are elected by the Board of Executive Directors at the beginning of each session.
    • Board of Executive Directors: It is collectively entrusted with oversight over the development of core policies and strategic work plans and programs, performance and accountability of the management, and reporting to the Board of Governors.

    The governance structure of the Arab Monetary Fund (AMF) reflects the attention paid by the Fund to defining roles and responsibilities across its supervisory, oversight and executive bodies, their integration, interaction, horizontal communication, opinion sharing, broadening the scope of knowledge, and insight, prior to taking a decision.

    DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.

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