Abstract
The Agreement establishing the Arab Monetary Fund (AMF) was approved by the Economic Council of Arab States in Rabat, Morocco, in April 1976 and entered into force on 2 February 1977. The Board of Governors is composed of a governor and a deputy governor appointed by each member state for a term of five years. The Board of Executive Directors exercises all powers vested in it by the Board of Governors and may delegate to the Director-General such powers as it deems fit. It is composed of the Director-General and eight non-resident directors elected by the Board of Governors. The Director-General of the Fund is appointed by the Board of Governors for a renewable five-year term, and serves as Chairman of the Board of Executive Directors. The AMF deploys technical missions to member states to follow up reform programmes supported by the Fund's resources and to assess new requests for loans.
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