FINANCIAL AND BANKING NEWS
AMF to Finance Inter-Arab Trade
The Abu Dhabi-based Arab Monetary Fund (AMF) has proposed a $370mn scheme to finance trade between Arab states. The AMF proposal involves using its own funds together with those of central banks in the Arab world, Arab commercial banks, and non-Arab financial institutions. The essence of the plan, which is to be discussed this week in Tunisia at a meeting of Arab central bank governors, is to provide trade finance via...