THE CENTRAL BANK OF JORDAN AND THE ARAB MONETARY FUND ANNOUNCE THE COMPLETION OF THE INCLUSION OF THE JORDANIAN DINAR IN THE BUNA PLATFORM FOR ARAB PAYMENTS

by **claud39** Sat Jul 10, 2021 10:30 am

Good morning all !! I am simply giving my opinion on this subject, here is the importance of the "BUNA" system.

Currently the jourdanie is now the 4th central bank to join this system for currency exchange between the Arab world, and also to other countries, such as the United States with a value on their currency by negotiating in US dollars, so according to me, and let me make it my personal opinion, iraq is on the verge of joining them in accepting the iraqi dinar.

I send you the link which speaks of Iraq in relation to the "BUNA" system that I share on the forum !!

Claud (Moose)

THE CENTRAL BANK OF JORDAN AND THE ARAB MONETARY FUND ANNOUNCE THE COMPLETION OF THE INCLUSION OF THE JORDANIAN DINAR IN THE BUNA PLATFORM FOR ARAB PAYMENTS

2021-07-06

The Jordanian dinar is the fourth Arab currency to complete the procedures for inclusion in the "Bunni" platform, raising the number of currencies listed on the platform to six.

Banks participating in the platform can use the Jordanian dinar
to send and receive inter-payments

His Excellency Dr. Ziad Fariz, Governor of the Central Bank of Jordan: "We look forward to the effective contribution of Jordanian banks in promoting the use of the Jordanian dinar in the field of cross-border financial payments, and benefiting from the added and pivotal value provided by the "Bunna" platform for the banking sector and Arab economies"

His Excellency Dr. Abdulrahman bin Abdullah Al-Hamidi, Director General and Chairman of the Board of Directors of the Arab Monetary Fund, said: "The joining of the Jordanian dinar to the list of settlement currencies included in the Buna platform for Arab payments is an important step in the efforts of the Buna platform to achieve its strategic objectives."

The Central Bank of Jordan and the Arab Monetary Fund announced today the completion of the inclusion of the Jordanian dinar as a settlement currency in the “Bunna” platform for Arab payments, affiliated with the Regional Institution for Clearing and Settlement of Arab Payments owned by the Fund, and the signing of an agreement that allows the “Bunni” platform for Arab payments to provide clearing and settlement services for payments in currency. Jordan through the Central Bank of Jordan.

The Jordanian dinar is the fourth Arab settlement currency to be completed to be included in the "Bunna" platform for Arab payments, along with the Emirati dirham, the Saudi riyal and the Egyptian pound, in addition to the US dollar and the euro. This achievement represents an additional step in the ongoing efforts of the Buna platform to build its network of participating banks and listed Arab and international currencies, and to enhance Buna's position as the payments platform of choice in various markets in the Arab region.

On this occasion, His Excellency Dr. Ziad Fariz, Governor of the Central Bank of Jordan , said, “The inclusion of the Jordanian dinar in the Buna platform for Arab payments reflects the continuous support of the Hashemite Kingdom of Jordan for strategic initiatives in the Arab world. It unequivocally shows the importance that the Jordanian dinar enjoys as a currency Main Arabic used in the activity of inter-trade exchange and money transfers

His Excellency the Governor added : “The development of the financial sector in the region and the creation of an essential added value for the Arab banking industry and Arab citizens is one of the most prominent common interests between the Central Bank of Jordan and the Arab Monetary Fund. We are looking forward to launching the activities of Jordanian banks as participating banks in the “Buna” platform. For Arab payments, and its effective contribution to promoting the use of the Jordanian dinar in the field of cross-border financial payments, benefiting from the added and pivotal value that Buna provides to the banking sector and Arab economies.

For his part, His Excellency the Director General and Chairman of the Board of Directors of the Arab Monetary Fund ,
Dr. Abdul Rahman bin Abdullah Al-Humaidi, expressed his appreciation and gratitude to the Governor of the Central Bank of Jordan, for his continuous support, which facilitated the completion of the procedures for including the Jordanian dinar. His Excellency also commended the efforts and cooperation of the work teams in the Central Bank of Jordan to achieve this strategic partnership.

He spoke of His Excellency Dr. Abdulrahman bin Abdullah Al Hamidi said : "We thank the Central Bank of Jordan on his firm belief in the vision platform" built "to support the growth of Arab economies, and its strategic role in keeping up the banking and financial sector requirements in the Arab region and beyond, and to meet the needs of the integrated platform for payments multi - currency, characterized by efficient The joining of the Jordanian dinar to the list of settlement currencies included in the "Bunna" platform for Arab payments, constitutes an important step in the efforts of "Bunna" to achieve its strategic goals at the level of supporting commercial activities and remittances operations at the level of the Arab world and with the main trading partners of Arab countries.In addition to its role in strengthening investment ties and promoting regional financial integration, by encouraging the use of Arab currencies in clearing and settling cross-border payments and various economic activities.

It is worth noting that the "Buna" platform constitutes an integrated system specialized in providing clearing and settlement services for payments in Arab and international currencies, aimed at enabling financial and banking institutions in the Arab region and beyond, including central and commercial banks, to send and receive inter-payments throughout the Arab region and abroad in a safe, reliable, affordable and highly effective manner. Buna offers participants state-of-the-art payment solutions that comply with international standards and principles and international compliance requirements. "Buna" contributes to enhancing opportunities for economic and financial integration in the Arab region and supporting investment links with trading partners in various continents. It is noteworthy that participation in the platform is available to all banks and financial institutions that meet the criteria and conditions for participation in it, foremost of which are the standards and procedures for compliance aspects.

https://www.amf.org.ae/ar/content/%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D8%A7%D9%84%D8%A3%D8%B1%D8%AF%D9%86%D9%8A-%D9%88%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D8%A7%D9%84%D9%86%D9%82%D8%AF-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A-%D9%8A%D8%B9%D9%84%D9%86%D8%A7%D9%86-%D8%B9%D9%86-%D8%A7%D8%B3%D8%AA%D9%83%D9%85%D8%A7%D9%84-%D8%AA%D8%B6%D9%85%D9%8A%D9%86-%D8%A7%D9%84%D8%AF%D9%8A%D9%86%D8%A7%D8%B1-%D8%A7%D9%84%D8%A3%D8%B1%D8%AF%D9%86%D9%8A-%D9%81%D9%8A-%D9%85%D9%86%D8%B5%D8%A9

by **claud39** Sat Jul 10, 2021 10:30 am

THE ARAB MONETARY FUND IS HOLDING AN INTERACTIVE WORKSHOP ON INCLUDING THE US DOLLAR AS A SETTLEMENT CURRENCY ON THE “BUNAA” PLATFORM FOR ARAB PAYMENTS

2021-02-04

[size=14]The workshop will take place today, Thursday, February 4, 2021[/size]

[size=14]More than 200 participants from central banks, financial and banking institutions from the region and the world are participating in the workshop[/size]

[size=14]The inclusion of the US dollar reflects the added value of the services of the Bunna Arab Payments platform to contribute to enhancing the efficiency and safety of clearing and settlement of cross-border payments [/size]

Today, Thursday, February 4, 2021, the Arab Monetary Fund will hold a remote workshop, dealing with aspects of including the US dollar as a settlement currency in the “Bunaa” Arab Payments platform of the Regional Corporation for Arab Payments Clearing and Settlement owned by the Fund.

[size=14]More than 200 participants, representing central banks, financial and banking institutions, and financial services providers from the region and the world, will participate in the workshop, to closely examine the activities of the "Bunaa" platform and the development of its business and future plans.[/size]

[size=14]A senior representative of the global American "JP Morgan" bank, along with the management team of the "Buna" platform, will speak in the workshop about the results of "Buna "’s success in including the US dollar as the settlement currency in the list of Arab and international settlement currencies listed on this platform. The workshop will also be an opportunity to review the plans of the "Buna" Arab Payments platform to enhance the frameworks and level of cooperation with its growing network of participating banks.[/size]

[size=14] On this occasion, Mr. Mahdi Maneh, CEO of the Regional Corporation for Arab Payments Clearing and Settlement (Bennah Arab Payments Platform) said : “The choice of GBMorgan Bank to implement payments settlement work in US dollars through the“ Bunaa ”Arab Payments platform corresponds to the stated objectives of the platform in terms of Its keenness to carry out its activities in accordance with the highest international standards and best international practices This achievement also represents a major step within the continuous efforts of the "Buna" platform to continue strengthening its operating model, diversifying its services, and affirming its international character, thus contributing effectively to enhancing the level of safety and efficiency of the inter-payments sector. Globalism."[/size]

[size=14]Mr. Mane added , “As a result of the cooperation agreement with GBMorgan, our growing network of participating banks is able to send and receive intermittent payments in US dollars, in real time and directly from the sending bank to the recipient bank.” This matter constitutes an additional testimony in depth. Our commitment to our plan is to be a multi-currency payment system capable of providing clearing and settlement services for payments in Arab and international currencies With the support of all parties and entities working in the financial and banking sectors, especially the Arab central banks and the Arab Monetary Fund, we are progressing in achieving all our goals and we will continue to work on Providing value to our network of participating banks and helping them enhance their services, through our modern and innovative solutions, and our high commitment to all aspects of compliance and safety rules.[/size]

[size=14]It should be noted that the "Buna" platform is an integrated system specialized in providing clearing and settlement services for payments in Arab and international currencies, aiming to enable financial and banking institutions in the Arab region and beyond, including central and commercial banks, to send and receive intermittent payments throughout the Arab region and beyond. Safe, reliable, affordable and highly effective. Bunna offers participants modern payment solutions that comply with international standards, principles and international compliance requirements. Bona contributes to enhancing economic and financial integration opportunities in the Arab region and supporting investment ties with trading partners in various continents. It is mentioned that participation in the platform is available to all banks and financial institutions that meet the criteria and conditions for participation in it, foremost among which are the standards and procedures for compliance aspects.[/size]

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by **claud39** Sat Jul 10, 2021 10:32 am

THE CENTRAL BANK OF IRAQ AND THE ARAB MONETARY FUND ARE ORGANIZING A WORKSHOP TO ENROLL BANKS OPERATING IN THE REPUBLIC OF IRAQ ON THE "BANI" ARAB PAYMENTS PLATFORM. WIDE PARTICIPATION OF COMMERCIAL BANKS REFLECTS THE GROWING INTEREST IN PARTICIPATING IN THE PLATFORM.

2020-07-13

With the announcement of the launch of the "Bani" platform for Arab payments of the Regional Corporation for Clearing and Settlement of Arab Payments owned by the Arab Monetary Fund, the fund continues its efforts in following up the process of joining central and commercial banks on the platform. In this context, a fund, in cooperation with the Central Bank of Iraq, is organizing today, Monday, July 13, a workshop to enroll banks operating in the Republic of Iraq on the platform, in which senior officials from all banks operating in Iraq will participate.

The workshop discusses the process of joining banks operating in the Republic of Iraq on the "Bani" platform and the proposed business plan, and addresses the technical requirements and steps required to ensure that they are easily linked to the platform. It also includes a presentation by the Central Bank of Iraq, in which it reviews the most important features of the platform in developing payment services in the region and the services it provides to banks in enhancing their role in supporting investments, intra-trade and economic ties with the trading partners of Iraq.

It should be noted that this workshop comes after more than thirteen workshops were held at the level of the Arab region, during which there was wide participation from commercial banks operating in the Republic of Iraq, which showed a growing interest in participating in the group of first users of the platform. This workshop is also the eighth in a series of workshops dedicated to joining banks in every Arab country.

It should be noted that the "Bani" platform represents

The platform aims to enable financial and banking institutions in the Arab region, including central and commercial banks, to send and receive intermittent payments throughout the Arab region and abroad in a safe and reliable manner, at an appropriate cost and high efficiency.

The platform contributes to enhancing opportunities for economic and financial integration in the Arab region and supporting investment links with the trading partners of Arab countries on various continents.

It is mentioned that the platform is available to all banks that meet the criteria and conditions for participation in it, foremost among which are the standards and procedures for aspects of compliance.

His Excellency the Director General, Chairman of the Board of Directors of the Fund, Dr. Abdul Rahman bin Abdullah Al-Hamidi, expressed his gratitude for the continuous support of His Excellency the Governor of the Central Bank of Iraq for the Arab clearing project and his colleagues' cooperation in preparing the workshop and speeding up the attachment of banks in Iraq to the "Bani" payment platform. He also praised the great enthusiasm shown by Iraqi banks to participate in the platform.

https://www.amf.org.ae/en/content/%D8%A7%DD8%A8%Datafull D8% B1% D9% 83% D8% B2% D9% 8A- D8% A7% D9% 84% D8% B9% D8% B1% D8% A7% D9% 82% D9% 8A- D9% 88% D8% B5% D9% 86% D8% AF% D9% 88% D9% 82- D8% A7% D9% 84% D9% 86% D9% 82% D8% AF- D8% A7% D9% 84% D8% B9% D8% B1% D8% A8% D9% 8A- D9% 8A% D9% 86% D8% B8% D9% 85% D8% A7% D9% 86% D9% 88% D8% B1% D8% B4% D8% A9% D8% B9% D9% 85% D9% 84–% D9% 84% D8% A5% D9 % 84% D8% AD% D8% A7% D9% 82% D8% A7 % D9% 84% D8% A8% D9% 86% D9% 88% D9% 83% D8% A7% D9% 84% D8% B9 % D8% A7% D9% 85% D9% 84% D8% A9- % D9% 81% D9% 8A- D8% AC% D9% 85% D9% 87% D9% 88% D8% B1% D9% 8A% D8% A9

by **claud39** Sat Jul 10, 2021 10:35 am

The International Development Bank announces its joining the "Bani" platform

01/25/2021

Enlarge this image Click to see fullsize
THE CENTRAL BANK OF JORDAN AND THE ARAB MONETARY FUND ANNOUNCE THE COMPLETION OF THE INCLUSION OF THE JORDANIAN DINAR IN THE BUNA PLATFORM FOR ARAB PAYMENTS 4499

THE CENTRAL BANK OF JORDAN AND THE ARAB MONETARY FUND ANNOUNCE THE COMPLETION OF THE INCLUSION OF THE JORDANIAN DINAR IN THE BUNA PLATFORM FOR ARAB PAYMENTS 4499

Economy News - Baghdad

The International Development Bank announced that it has joined the Bani platform for clearing and settling Arab payments.

The bank said in a statement seen by "Al-Eqtisad News", "with unremitting and promising efforts and on the occasion of launching and operating the" Buna Buna "platform for clearing and settling Arab payments owned by the Arab Monetary Fund and starting to implement the business of sending and receiving money in various currencies and after the platform's success in conducting financial transfers in every From Egypt, the United Arab Emirates and Jordan, as a first stage. "

The statement added that "the International Development Bank, as the first Iraqi bank to start its work on this platform, which will allow its customers to send money between Arab countries and in all currencies and to the various markets of the Arab region and abroad, with very low commissions, which will include more than 120 Arab banks to its network in order to expand the list of Arab and international currencies ".

The bank stressed that "work is underway to introduce the Iraqi dinar currency on this platform soon to encourage the use of Arab currencies in financial and investment transactions in accordance with international standards and after the International Development Bank fulfills all operating requirements, which reflects the bright image of Iraqi banks and their competition with Arab banks in applying all modern banking standards." And her signature of the sharing agreement. "

https://economy-news.net/content.php?id=23811

by **claud39** Sat Jul 10, 2021 10:42 am

Notice the meeting between the tripartite either IRAQ, JOURDANIA, EGYPT, how will they market among themselves, or through the "BUNA" system, I would not be surprised that the next Arab country to follow the "BUNA" procedure will be Iraq for currency exchange systems !!

But like to mention its my personal opinion !!

Claud (Moose)

The Jordanian dinar is the fourth Arab settlement currency to be completed to be included in the "Bunna" platform for Arab payments, along with the Emirati dirham, the Saudi riyal and the Egyptian pound, in addition to the US dollar and the euro. This achievement represents an additional step in the ongoing efforts of the Buna platform to build its network of participating banks and listed Arab and international currencies, and to enhance Buna's position as the payments platform of choice in various markets in the Arab region.

A tripartite summit between Iraq, Jordan and Egypt next Sunday in Baghdad

Thursday 24 June 2021

THE CENTRAL BANK OF JORDAN AND THE ARAB MONETARY FUND ANNOUNCE THE COMPLETION OF THE INCLUSION OF THE JORDANIAN DINAR IN THE BUNA PLATFORM FOR ARAB PAYMENTS Irq_1794800066_1624542456

[size=16]A tripartite summit will be held between Iraq, Jordan and Egypt, next Sunday in the capital, Baghdad. The summit will be attended by Iraqi Prime Minister Mustafa Al-Kazemi, Jordan's King Abdullah II, and Egyptian President Abdel Fattah El-Sisi. He added that the summit comes as a continuation of the two previous summits in Cairo, Egypt, and the Dead Sea in Jordan. And at the end of last March, Iraqi Prime Minister Mustafa Al-Kazemi announced the postponement of the tripartite summit between Iraq, Jordan and Egypt, which was scheduled to be held on the twenty-seventh of last March in the capital, Baghdad, due to the two trains colliding in the Egyptian city of Sohag.

https://aynaliraqnews.com/index.php?aa=news&id22=149000
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