Bundesbank renews Memorandum of Understanding with the Arab Monetary Fund

Abdulrahman Al Hamidy and Burkhard Balz sign the Memorandum of Understanding between the AMF and the Bundesbank.

The Bundesbank has reaffirmed its partnership with the Arab Monetary Fund (AMF). Bundesbank Executive Board member Burkhard Balz and his counterpart, AMF Director General Abdulrahman Al Hamidy, signed the Memorandum of Understanding (MoU) between the Bundesbank and the AMF during Mr Balz’s visit to Abu Dhabi.

While the first MoU between the Bundesbank and the AMF was signed in 2015, the two institutions have had good relations for many years. The AMF – which was founded in 1976, has more than 20 member states and is headquartered in Abu Dhabi – is a sub-organisation of the Arab League. One of its objectives is to launch a unified currency in the region.