Regional financial institutions: an evidence from the Arab world

Abstract

Regional financial institutions have played a major role in furthering the sustainable development(SD) process in the Arab countries, supporting development programs, support reforms aiming at macroeconomic stability. The main aim of this paper is to clarify the role of these institutions in the formulation and implementation of SD plans in the Arab region, to highlight the Arab monetary fund’s contribution to development and providing reforms that promote inclusive and sustainable economic growth and support the promotion of financial inclusion. To do so, there has been the adoption of an analytical descriptive method in research based on the analysis of the data annual reports. The author found that these institutions only achieved a part of their objectives as well as, their performance was modest at best, due to their complexity and there was a duplication of functions, as well as to, political and structural economic problems. It is Required to reconsider many of the existing institutions and policies to be consistent with the developments and needs of the contemporary Arab economy, it is needed to shift to more effective policies, and focused on what is being accomplished.