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Arab Monetary Fund
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Arab Monetary Fund
Money reserve established in 1976 by many Arab states plus the Palestine Liberation Organization (PLO) to provide a mechanism for promoting greater stability in exchange rates and to coordinate Arab economic and monetary policies. It operates mainly by regulating petrodollars within the Arab community to make member countries less dependent on the West for the handling of their surplus money. The fund's headquarters are in Abu Dhabi in the United Arab Emirates.
The member states are: Egypt, Syria, Iraq, Lebanon, Jordan, Saudi Arabia, Yemen, Algeria, Bahrain, Djibouti, Kuwait, Libya, Mauritania, Morocco, Oman, Palestine, Qatar, Somalia, Sudan, Tunisia, the PLO, and the United Arab Emirates.
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