The Arab Monetary Fund (AMF) is an international organization headquartered in Abu Dhabi, United Arab Emirates. It was established in 1976 with the aim of promoting economic and financial cooperation among Arab countries. The Articles of Agreement of the Arab Monetary Fund are the foundation of its existence and provide a framework for its operations.
The Articles of Agreement of the AMF consist of 39 articles that cover a wide range of topics related to the organization`s purpose, structure, functions, and operations. The articles were adopted by the League of Arab States in 1974 and entered into force in 1977. They have been amended several times, most recently in 2013, to reflect changes in the global economic and financial landscape.
The first article of the agreement states that the AMF is a regional institution established to «foster the development of Arab economic cooperation and the growth of Arab economies.» The second article defines the organization`s objectives, which include promoting monetary and financial stability, facilitating trade and investment among Arab countries, and providing technical assistance to member countries.
The third article outlines the structure of the AMF, which includes a Board of Governors, a Board of Executive Directors, a Director General, and other staff members. The fourth article establishes the headquarters of the organization in Abu Dhabi and the fifth article sets out the membership criteria and procedures for joining the AMF.
The sixth article covers the financial resources of the AMF, which include paid-in capital, reserves, borrowings, and other sources of funding. The seventh article outlines the procedures for raising and investing funds, while the eighth article establishes the auditing and reporting requirements of the organization.
The articles also cover the functions and operations of the AMF, including its role as a lender of last resort, its responsibility for promoting the use of Arab currencies in trade and investment, and its provision of technical assistance and training to member countries.
In terms of governance, the articles establish the roles and responsibilities of the Board of Governors, the Board of Executive Directors, and the Director General. They also set out the procedures for decision-making, voting, and dispute resolution within the organization.
Overall, the Articles of Agreement of the Arab Monetary Fund provide a comprehensive framework for the organization`s existence and operations. As a regional institution that plays a key role in promoting economic and financial cooperation among Arab countries, the AMF`s articles are critical to its success in achieving its objectives and fulfilling its mandate.