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Arab Monetary Fund underscores financial inclusion in Arab states

Xinhua, April 27, 2017 Adjust font size:

The Arab states have to improve financial inclusion and adopt economic policies, official with the Arab Monetary Fund (AMF) said here on Thursday, reported United Arab Emirates (UAE) state news agency WAM.

Abdulrahman Bin Abdullah Al-Humaidi, director-general of the AMF, said so during a press conference at the AMF headquarters on the occasion of Arab Financial Inclusion Day.

He said statistics show that the percentage of the adult population in Arab countries with no access to official financial and financing services is around 71 percent, 78 percent among women and 93 percent for poor and low-income groups.

The aim of Arab Financial Inclusion Day is to increase awareness of financial inclusion and its requirements in Arab countries, as well as related issues, policies and programs.

Therefore, the AMF will cooperate with the Alliance for Financial Inclusion and the German Development Agency.

The AMF director-general also stressed the significance of financial inclusion strategies and policies, especially financial stability and economic growth, and achieving overall sustainable development. Endit