Finance Minister calls for greater Arab economic cooperation

April 15, 2009

Minister of Finance Dr. Ibrahim Al-Assaf led the Saudi delegation to the inaugural session of the Arab Financial Commission, a pan-Arab meeting of economic officials and representatives of financial institutions, in Amman today.

The delegation also included Saudi Arabian Monetary Agency (SAMA) Governor Dr. Mohammed Al-Jasser; Saudi Fund for Development (SFD) Vice-President and Managing Director Yousef Al-Bassam; and a number of specialists from the Ministry of Finance.

Addressing the session, Dr. Al-Assaf underlined the importance of enhancing economic cooperation between Arab countries and improving the capabilities of Arab financial institutions. He noted that Saudi Arabia, along with several other countries, has been working to boost the performance of its financial institutions.

The two-day meeting is being attended by Arab finance ministers, as well as representatives from key institutions, including the Arab Fund for Economic and Social Development (AFESD); the Arab Monetary Fund (AMF); the Arab Bank for Economic Development in Africa (BADEA); the Arab Authority for Agricultural Investment and Development (AAAID); and the Arab Investment and Export Credit Guarantee Corporation (DHAMAN).