The Arab Monetary Fund (AMF) has convened the 29th meeting of the Arab Financial Inclusion Task Force (FITF) in Abu Dhabi under the auspices of the Council of Governors of Arab Central Banks and Monetary Authorities, positioning the forum as a venue to coordinate regional financial inclusion priorities. The AMF acts as the Task Force’s technical secretariat, and the FITF is made up of directors of financial inclusion departments from Arab central banks. Observers participating include the World Bank, the German Agency for International Cooperation (GIZ), the Better Than Cash Alliance, the United Nations Department of Economic and Social Affairs’ Financial Sector Office, and the Consultative Group to Assist the Poor (CGAP). The agenda spans financial consumer protection, implementation of international standards, and strengthening financial awareness and literacy, alongside discussion of progress reported by the AMF’s Director General, including adult financial account ownership rising to around 50% in 2024 from 22% a decade earlier and remaining challenges such as the large informal sector, limited digital infrastructure, low public trust in financial institutions, and a shortage of suitable products for low-income groups.
Arab Monetary Fund 2025-11-18
Arab Monetary Fund convenes 29th Arab Financial Inclusion Task Force meeting in Abu Dhabi and reports account ownership at around 50% in 2024
The Arab Monetary Fund held the 29th Arab Financial Inclusion Task Force meeting in Abu Dhabi to coordinate regional financial inclusion priorities, with international observers. Discussions covered financial consumer protection, international standards implementation, and financial literacy, highlighting progress in financial account ownership and ongoing challenges like the informal sector and limited digital infrastructure.