Governance Framework
The governance framework of the Arab Monetary Fund (AMF) defines the roles and responsibilities of the Board of Governors, the Board of Executive Directors, and executive management, and governs the relationships among them to support oversight, accountability, and decision-making. The framework is supported by the Revision and Risk Committee, as well as the internal audit and risk management functions.
AMF Membership
Hashemite Kingdom of Jordan
United Arab Emirates
Kingdom of Bahrain
Republic of Tunisia
People's Democratic Republic of Algeria
Republic of Djibouti
Kingdom of Saudi Arabia
Republic of Sudan
Syrian Arab Republic
Federal Republic of Somalia
Republic of Iraq
Sultanate of Oman
State of Palestine
State of Qatar
Union of Comoros
State of Kuwait
Republic of Lebanon
State of Libya
Arab Republic of Egypt
Kingdom of Morocco
Islamic Republic of Mauritania
Republic of Yemen
Board of Governors
Kingdom of Jordan
Governor
H.E. Dr. Adel Alsharkas
Governor, Central Bank of Jordan
United Arab Emirates
Governor
H.E. Mohammed bin Hadi Al Husseini
Minister of State for Finance Affairs
Kingdom of Bahrain
Governor
H.E. Sheikh Salman Bin Khalifa Al Khalifa
Minister of Finance
Republic of Tunisia
Governor
H.E. Dr. Fathi Zuhair Al-Nouri
Governor, Central Bank of Tunisia
People's Democratic Republic of Algeria
Governor
H.E. Mohammed Lamine Lebbou
Minister of Finance
The Republic of Djibouti
Governor
H.E. Isman Ibrahim Robleh
Minister of Budget
Kingdom of Saudi Arabia
Governor
H.E. Mohammed Bin Abdullah Al-Jadaan
Minister of Finance
Republic of Sudan
Governor
H.E. Dr. Gibril Ibrahim Mohamed
Minister of Finance and Economic Planning
Syrian Arab Republic
Governor
H.E. Mohamed Yisr Barnieh
Minister of Finance
Federal Republic of Somalia
Governor
H.E. Bihi Iman Egeh
Minister of Finance
Republic of Iraq
Governor
H.E. Nizar Naser Hussein
Governor, Central Bank of Iraq
Sultanate of Oman
Governor
H.E. Sultan bin Salim Al Habsi
Minister of Finance
State of Palestine
Governor
H.E. Yahya Shenna
Governor of the Palestine Monetary Authority and Chairman of the Board of Directors
State of Qatar
Governor
H.E. Ali bin Ahmed Al Kuwari
Minister of Commerce and Industry and Acting Minister of Finance
Union of Comoros
Governor
H.E Mousa Abdelrahman
Minister of Finance, Budget and Banking Sector
State of Kuwait
Governor
H.E. Prof. Yaqoub S.Y. Al-Refaei
Minister of Finance
Republic of Lebanon
Governor
H.E. Karim Souaid
Acting Governor, Banque du Liban
State of Libya
Governor
H.E. Dr. Fawzi Abu Khazam
Governor, Central Bank of Libya
Republic of Egypt
Governor
H.E. Hassan Abdalla
Governor
Kingdom of Morocco
Governor
H.E. Fouzi Lekjaa
Minister of Economy, Finance and Public Performance
Islamic Republic of Mauritania
Governor
H.E. Mohamed Lemine Dhehby
Governor, Central Bank of Mauritania
Republic of Yemen
Governor
H.E. Marwan Farag Bin Ghanem
Minister of Finance
Board of Executive Directors
Top management of the AMF consists of the Board of Governors (General Assembly), and the board of executive directors chaired by the Director General Chairman of the board.
Members of the Board for the period 1 July 2025- 30 June 2028
Audit and Risk Committee
The Audit and Risk Committee operates under the Board of Executive Directors and reports directly to it, supporting the Board in fulfilling its oversight and supervisory responsibilities within the Arab Monetary Fund’s governance framework. The Committee comprises three members who are independent of the AMF’s Executive Management and are elected by the Board of Executive Directors at the beginning of each term. It operates in accordance with a charter that defines its mandate and scope of responsibilities.
The Committee oversees the integrity of the AMF’s financial statements, monitors the implementation of risk management and internal control frameworks, and assesses the effectiveness of the Internal Audit Office, including reviewing its reports. It also monitors the independence of external auditors, reviews their reports, and examines reports of suspected misconduct or irregularities.
AMF Office of Internal Audit
The Internal Audit Office contributes to strengthening governance and oversight at the Arab Monetary Fund by assessing internal control systems and reporting audit findings and recommendations. The Audit and Risk Committee oversees the Office’s independence, evaluates its effectiveness, and reviews its reports, supporting the Board of Executive Directors in fulfilling its oversight and supervisory responsibilities
The Audit and Risk Committee supports the Board of Executive Directors in fulfilling its oversight responsibilities. It reviews the integrity of financial statements, risk management policies and internal controls, assesses the effectiveness of the Internal Audit Office and reviews its reports, monitors the external auditor’s independence and discusses audit reports, and receives whistleblowing reports and makes recommendations on them.
The Audit and Risk Committee oversees the independence of the Internal Audit Office, assesses its effectiveness, and reviews its reports, supporting the Board of Executive Directors in fulfilling its oversight and supervisory responsibilities.
The Internal Audit Office is a key component of the AMF governance framework. It supports oversight by evaluating internal controls and reporting its findings, while the Revision and Risk Committee monitors its independence and reviews its reports.
