Financial and Banking News
Increased Use of Arab Accounting Dinar Agreed
At a meeting held in Abu Dhabi on 8-9 December the governors of Arab Central Banks and heads of Monetary Authorities agreed to make greater use of the Arab Accounting Dinar (AAD). The AAD is the unit of account of the Arab Monetary Fund (AMF) and is equivalent to three IMF Special Drawing Rights (SDRs). One of the main items on the governors' agenda in Abu Dhabi was a proposal by the Arab...