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The Arab Accounting Dinar: A strategic tool for Arab economic integration
October 30, 2024 Last updated: October 30, 2024
The Arab Accounting Dinar: A strategic tool for Arab economic integration
Hussein Al-Falluji*
In light of the growing economic challenges facing Arab countries,
the role of the Arab Accounting Dinar is emerging as an important strategic tool that may contribute to enhancing economic integration and providing effective solutions to common Arab problems.
Perhaps many followers of Arab affairs are unaware of the existence of the Arab Accounting Dinar,
this important economic tool that can play a vital role in promoting economic integration and providing effective solutions to common problems among Arab countries.
Some people wonder about the reasons for not activating this vital project optimally, despite the great opportunities it provides for achieving financial stability and economic prosperity.
The Arab Monetary Fund relies on the Arab Accounting Dinar as the official base currency, which differs from the currencies circulating in Arab and international markets.
The arithmetic exchange rate of the Arab dinar was fixed at the equivalent of three units of Special Drawing Rights specified by the International Monetary Fund.
Special Drawing Rights are an international reserve asset created by the International Monetary Fund in 1969 to supplement the official reserves of member states.
The value of these rights is determined based on a basket of five major international currencies: the Chinese yuan, the US dollar, the European euro, the Japanese yen, and the British pound.
This link to a basket of strong currencies gives the Arab Accounting Dinar relative stability and reduces the risk of global exchange rate fluctuations, enhancing confidence in it as an instrument of financial exchange.
The use of the Arab Accounting Dinar can contribute to facilitating commercial and financial operations between Arab countries, as
it provides a common monetary unit for settling transactions, which may reduce currency conversion costs and increase the efficiency of financial systems.
This unification helps promote intra-regional trade, opens new horizons for economic cooperation, and stimulates growth by expanding markets and facilitating the movement of goods and services.
In addition, the Arab Accounting Dinar represents a step towards greater financial independence for Arab countries.
By reducing dependence on foreign currencies, Arab countries can better control their monetary policies and mitigate the negative effects of global economic fluctuations.
This enhances the ability to plan financial and investment with greater confidence, supporting sustainable development and investment in vital projects and infrastructure.
The widespread use of the Arab Accounting Dinar may also open new opportunities for joint investment among Arab countries.
It facilitates the financing of major regional projects and enhances cooperation between Arab financial institutions.
By providing a stable and unified financial environment, Arab countries can coordinate their financial and investment policies, which enhances the competitiveness of Arab economies at the international level.
Moreover, the Arab Accounting Dinar reflects a collective commitment by Arab countries to achieving integration and unity.
It is not just an economic tool, but a symbol of cooperation and solidarity in facing common challenges.
This commitment strengthens confidence among member states and paves the way for further cooperation in other areas such as education, health and culture.
Although there may be challenges to promoting the use of the ABD, such as the need to modernize financial infrastructure and coordinate monetary policy, the potential benefits make it an essential investment for the future.
Political will and joint cooperation are the basis for achieving success in this endeavor and overcoming obstacles to achieve the desired economic integration.
In conclusion: Activating and adopting the Arab Accounting Dinar represents a real opportunity for Arab countries to enhance economic integration and achieve common prosperity.
By expanding the use of this unit of account and activating the proposals supporting it, Arab countries can build a more stable and prosperous future for their people, based on economic cooperation, solidarity and unity.
* Independent politician
https://mustaqila.com/الدينار-العربي-الحسابي/
~~~~~~~~~~~~~~~~~~~~~
https://www.xe.com/currencyconverter/convert/?Amount=1&From=XDR&To=USD
1.00 IMF Special Drawing Rights = 1.3302209 US Dollars
1 USD = 0.751755 XDR
October 30, 2024 Last updated: October 30, 2024
The Arab Accounting Dinar: A strategic tool for Arab economic integration
Hussein Al-Falluji*
In light of the growing economic challenges facing Arab countries,
the role of the Arab Accounting Dinar is emerging as an important strategic tool that may contribute to enhancing economic integration and providing effective solutions to common Arab problems.
Perhaps many followers of Arab affairs are unaware of the existence of the Arab Accounting Dinar,
this important economic tool that can play a vital role in promoting economic integration and providing effective solutions to common problems among Arab countries.
Some people wonder about the reasons for not activating this vital project optimally, despite the great opportunities it provides for achieving financial stability and economic prosperity.
The Arab Monetary Fund relies on the Arab Accounting Dinar as the official base currency, which differs from the currencies circulating in Arab and international markets.
The arithmetic exchange rate of the Arab dinar was fixed at the equivalent of three units of Special Drawing Rights specified by the International Monetary Fund.
Special Drawing Rights are an international reserve asset created by the International Monetary Fund in 1969 to supplement the official reserves of member states.
The value of these rights is determined based on a basket of five major international currencies: the Chinese yuan, the US dollar, the European euro, the Japanese yen, and the British pound.
This link to a basket of strong currencies gives the Arab Accounting Dinar relative stability and reduces the risk of global exchange rate fluctuations, enhancing confidence in it as an instrument of financial exchange.
The use of the Arab Accounting Dinar can contribute to facilitating commercial and financial operations between Arab countries, as
it provides a common monetary unit for settling transactions, which may reduce currency conversion costs and increase the efficiency of financial systems.
This unification helps promote intra-regional trade, opens new horizons for economic cooperation, and stimulates growth by expanding markets and facilitating the movement of goods and services.
In addition, the Arab Accounting Dinar represents a step towards greater financial independence for Arab countries.
By reducing dependence on foreign currencies, Arab countries can better control their monetary policies and mitigate the negative effects of global economic fluctuations.
This enhances the ability to plan financial and investment with greater confidence, supporting sustainable development and investment in vital projects and infrastructure.
The widespread use of the Arab Accounting Dinar may also open new opportunities for joint investment among Arab countries.
It facilitates the financing of major regional projects and enhances cooperation between Arab financial institutions.
By providing a stable and unified financial environment, Arab countries can coordinate their financial and investment policies, which enhances the competitiveness of Arab economies at the international level.
Moreover, the Arab Accounting Dinar reflects a collective commitment by Arab countries to achieving integration and unity.
It is not just an economic tool, but a symbol of cooperation and solidarity in facing common challenges.
This commitment strengthens confidence among member states and paves the way for further cooperation in other areas such as education, health and culture.
Although there may be challenges to promoting the use of the ABD, such as the need to modernize financial infrastructure and coordinate monetary policy, the potential benefits make it an essential investment for the future.
Political will and joint cooperation are the basis for achieving success in this endeavor and overcoming obstacles to achieve the desired economic integration.
In conclusion: Activating and adopting the Arab Accounting Dinar represents a real opportunity for Arab countries to enhance economic integration and achieve common prosperity.
By expanding the use of this unit of account and activating the proposals supporting it, Arab countries can build a more stable and prosperous future for their people, based on economic cooperation, solidarity and unity.
* Independent politician
https://mustaqila.com/الدينار-العربي-الحسابي/
~~~~~~~~~~~~~~~~~~~~~
https://www.xe.com/currencyconverter/convert/?Amount=1&From=XDR&To=USD
1.00 IMF Special Drawing Rights = 1.3302209 US Dollars
1 USD = 0.751755 XDR
