Council of Arab Finance Ministers
The Council of Arab Finance Ministers works to strengthen cooperation and the exchange of expertise in public finance policies, and to coordinate the positions of Arab countries on economic and financial issues and emerging developments, including in international forums.
Following the call by the Council of the League of Arab States at the Summit Level, held in Kuwait in January 2009, for greater coordination among Arab finance ministers, the ministers agreed to hold regular meetings within the framework of a Council, with the Arab Monetary Fund
Objectives
In accordance with its Rules of Procedure, the Council aims to:
Exchange experiences and expertise in fiscal policies among member countries.
Coordinate positions on economic and financial issues and developments, including in international forums and meetings.
Coordinate efforts to promote inter-Arab investment.
Coordinate tax policies and address double taxation issues among Arab countries.
Seek to coordinate and harmonize financial legislation and regulations among Arab countries.
Coordinate investment policies and cooperate in protecting sovereign wealth.
Raise awareness of economic and financial issues and the fiscal reform efforts undertaken by Arab countries.
Coordinate positions on official development assistance and highlight Arab support in this area.
Monitor international rules and principles governing the dissemination of fiscal data and statistics.
Coordinate and support Arab representation in positions and management bodies within international financial institutions.
Strengthen Arab countries’ participation in setting international standards across financial and economic fields.
Seek to standardize Arabic terminology used in financial and economic fields.
Preparatory Committee
The Preparatory Committee comprises the Chair of the current annual meeting, the Chair of the next annual meeting, and the Director General Chairman of the Board of the Arab Monetary Fund, representing AMF in its capacity as the Council’s Technical Secretariat.
The Committee follows up on the implementation of the Council’s decisions and recommendations between sessions and prepares for Council meetings, including agreeing on the dates of regular sessions and preparing draft agendas. It also undertakes any other tasks assigned to it by the Council within its mandate.
Council Meetings
The Council’s annual meetings are generally held on the sidelines of the Joint Annual Meetings of Arab Financial Institutions. The Council may also convene extraordinary meetings whenever necessary.
Meetings are attended by observers, including the Assistant Secretary-General for Economic Affairs of the League of Arab States, the Director General of the Arab Fund for Economic and Social Development, and the Executive Directors representing Arab countries at the International Monetary Fund and the World Bank. AMF participates in its capacity as the Council’s Technical Secretariat.
