The Arab Monetary Fund’ (AMF) “Buna in Operations” workshop is hosting today more than 200 senior officials from various institutions in the financial, banking and payment sectors of the region and other international markets.
The workshop will shed light on the different aspects related to Buna entry in full operations and the onboarding of the first wave of participation.
During the workshop, high-level speakers from the banking sector along with Buna executive team, will share their views on Buna’s completion of the phased go live approach and the start of onboarding in production of participants.
The speakers will also discuss the different key phases of Buna establishment from the launching stage to the operations one and plans for the year 2021 and beyond.
At this occasion, Mehdi Manaa, Chief Executive Officer of Buna said: “Buna is now fully operational and totally equipped to achieve its business goals and realise its vision to empower Arab economies and promote regional integration, by providing efficient cross-border payments and supporting investment ties in the region and with global trading partners.
“As an innovative and secure multicurrency payment system that delivers cross-border settlement in real-time, we are keen to attract and onboard a diversified and broad network of participant banks from the region and beyond, and to demonstrate the added value we bring to the region financial sector and the global payment industry.”
“With the support of all the industry stakeholders, led by the Arab central Banks and the Arab Monetary Fund we are delivering our objectives and we will continue bringing value to our participants and supporting them in growing their offering.”
Buna, is a cross-border payment system owned by the Arab Monetary Fund, aiming to enable financial institutions and central banks in the Arab region and beyond to send and receive payments in local currencies as well as key international currencies in a safe, cost- effective, risk-controlled, and transparent environment.
Buna offers participants modern payment solutions that comply with international standards, principles, and international compliance requirements. Thanks to its cross-border payment system Buna contributes to exploring and strengthening opportunities for economic and financial integration in the Arab region and supporting investment ties with the global trading partners.
Buna welcomes the inclusion of all banks that meet the criteria and conditions for participation, primarily the standards and procedures of compliance aspects.-- Tradearabia News Service
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