The Federal Reserve System is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics led to the desire for central control of the monetary system in order to alleviate financial crises. Over the years, events such as the Great Depression in the 1930s and the Great Recession during the 2000s have led to the expansion of the roles and responsibilities of the Federal Reserve System.
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution funded by 191 member countries, with headquarters in Washington, D.C. It is regarded as the global lender of last resort to national governments, and a leading supporter of exchange-rate stability. Its stated mission is "working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world."
The economy of Yemen has significantly weakened since the breakout of the Yemeni Civil War and the humanitarian crisis, which has caused instability, escalating hostilities, and flooding in the region. At the time of unification, South Yemen and North Yemen had vastly different but equally struggling underdeveloped economic systems. Since unification, the economy has been forced to sustain the consequences of Yemen's support for Iraq during the 1990–91 Persian Gulf War: Saudi Arabia expelled almost 1 million Yemeni workers, and both Saudi Arabia and Kuwait significantly reduced economic aid to Yemen. The 1994 civil war further drained Yemen's economy. As a consequence, Yemen has relied heavily on aid from multilateral agencies to sustain its economy for the past 24 years. In return, it has pledged to implement significant economic reforms. In 1997 the International Monetary Fund (IMF) approved two programs to increase Yemen's credit significantly: the enhanced structural adjustment facility and the extended funding facility (EFF). In the ensuing years, Yemen's government attempted to implement recommended reforms: reducing the civil service payroll, eliminating diesel and other subsidies, lowering defense spending, introducing a general sales tax, and privatizing state-run industries. However, limited progress led the IMF to suspend funding between 1999 and 2001.
The Bank for International Settlements (BIS) is an international financial institution which is owned by member central banks. Its primary goal is to foster international monetary and financial cooperation while serving as a bank for central banks. With its establishment in 1930 it is the oldest international financial institution. Its initial purpose was to oversee the settlement of World War I war reparations.
The Cooperation Council for the Arab States of the Gulf, also known as the Gulf Cooperation Council, is a regional, intergovernmental, political, and economic union comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. The council's main headquarters is located in Riyadh, the capital of Saudi Arabia. The Charter of the GCC was signed on 25 May 1981, formally establishing the institution.
Bangladesh Bank is the central bank of Bangladesh and is a member of the Asian Clearing Union. It is fully owned by the Government of Bangladesh.
The Saudi Central Bank, previously known as the Saudi Arabian Monetary Authority, established in 1952, is the central bank of the Kingdom of Saudi Arabia. Despite the name change in 2020, the Saudi Central Bank has continued to use the same acronym (SAMA).
The Council of Arab Economic Unity (CAEU) was founded by Egypt, Iraq, Jordan, Kuwait, Libya, Mauritania, Palestine, Saudi Arabia, Sudan, Tunisia, Syria, United Arab Emirates and Yemen on May 30, 1964, following an agreement in 1957 by the Economic Council of the Arab League.
The Arab Fund for Economic and Social Development(AFESD) is a Kuwait-based pan-Arab development finance institution. All member-states of the Arab League are members of the AFESD. As of 2003, it held around US$7.3 billion in assets.
The Central Bank of Nigeria (CBN) is the central bank and apex monetary authority of Nigeria established by the CBN Act of 1958 and commenced operations on 1 July 1959. The major regulatory objectives of the bank as stated in the CBN Act are to: maintain the external reserves of the country; promote monetary stability and a sound financial environment, and act as a banker of last resort and financial adviser to the federal government. The central bank's role as lender of last resort and adviser to the federal government has sometimes pushed it into murky political controversies. After the end of colonial rule, the desire of the government to become proactive in the development of the economy became visible, especially after the end of the Nigerian civil war, the bank followed the government's desire and took a determined effort to supplement any show shortfalls, credit allocations to the real sector. The bank became involved in lending directly to consumers, contravening its original intention to work through commercial banks in activities involving consumer lending.
The economy of the Middle East is very diverse, with national economies ranging from hydrocarbon-exporting rentiers to centralized socialist economies and free-market economies. The region is best known for oil production and export, which significantly impacts the entire region through the wealth it generates and through labor utilization. In recent years, many of the countries in the region have undertaken efforts to diversify their economies.
The Central Bank of the United Arab Emirates is the state institution responsible for managing the currency, monetary policy, banking and insurance regulation in the United Arab Emirates.
The Khaleeji was a proposed name for a common currency of the member states of the Gulf Cooperation Council (GCC).
The Central Bank of Kosovo is the central bank of Kosovo. It was founded in June 2008, the same year Kosovo declared its independence from Serbia, with the approval of Law No. 03/L-074 on the Central Bank of the Republic of Kosovo by the Assembly of the Republic of Kosovo. Before being established as the Central Bank of Kosovo, it operated as the Central Banking Authority of Kosovo. The official currency in Kosovo is the Euro, which was unilaterally adopted by the United Nations administration for Kosovo in 2002; however, Kosovo is not a member of the Eurozone. The headquarters of the CBK are located in the capital of Kosovo, Pristina.
The OPEC Fund for International Development is an intergovernmental development finance institution established in 1976 by the member states of the Organization of the Petroleum Exporting Countries (OPEC). The OPEC Fund was conceived at the Conference of the Sovereigns and Heads of State of OPEC Member Countries, which was held in Algiers, Algeria, in March 1975. A Solemn Declaration of the Conference "reaffirmed the natural solidarity which unites OPEC countries with other developing countries in their struggle to overcome underdevelopment", and called for measures to strengthen cooperation between these countries.
Nemir Amin Kirdar was an Iraqi banker, billionaire, businessman, financier and author. As a founding father of private equity, and an economic and cultural bridge-builder, he was the founder and CEO of Investcorp, a global alternative investment group that operates in Manama, New York, London, Abu Dhabi, Riyadh, Doha, and Singapore. He spent much of his life in London, and held British citizenship. He was of Iraqi Turkmen background from Kirkuk.
Ahmed Abdulrahman Ali Al-Samawi is a Yemeni economist and banker. He was the Governor of the Central Bank of Yemen for thirteen years from May 1997 to April 2010. He was the first to prepare a scientific budget for the Republic of Yemen in 1972. He is currently a member of the 'Consultative' Shura Council of Yemen.
The European Stability Mechanism (ESM) is an intergovernmental organization located in Luxembourg City, which operates under public international law for all eurozone member states having ratified a special ESM intergovernmental treaty. It was established on 27 September 2012 as a permanent firewall for the eurozone, to safeguard and provide instant access to financial assistance programmes for member states of the eurozone in financial difficulty, with a maximum lending capacity of €500 billion. It has replaced two earlier temporary EU funding programmes: the European Financial Stability Facility (EFSF) and the European Financial Stabilisation Mechanism (EFSM).
Muhammad Sulaiman Al Jasser is a Saudi economist who is currently the chairman of the Islamic Development Bank (IsDB) group former advisor at the General Secretariat of the Council of Ministers of Saudi Arabia and chairman of the General Authority for Competition. He served as minister of economy and planning between 2011 and 2015. He also previously served as governor and board chairman of the Saudi Arabian Central Bank (SAMA) between 2009 and 2011. Prior to that, he served as executive director at the International Monetary Fund (IMF) between 1990 and 1995.
The Saudi Fund for Development (SFD) (Arabic: الصندوق السعودي للتنمية) is a Saudi Arabian government agency that provides assistance to developing countries by financing social and infrastructure projects. The funds development programme seeks to support the economies of recipient countries by enhancing economic growth and promoting job opportunities. The SFD was established in 1974 and began operations in 1975. The SFD established government agency has continued to expand through development, finance, trade, and funding. Today, it is involved in 3750 projects in 71 countries. The fund is led by Ahmed bin Aqeel Al-Khateeb, who also serves as the Minister of Tourism for Saudi Arabia.
