ENHANCING KNOWLEDGE OF THE SERVICES AND TRENDS OF THE BENI ARAB PAYMENTS PLATFORM

by **claud39** Fri Jul 02, 2021 8:06 pm

ENHANCING KNOWLEDGE OF THE SERVICES AND TRENDS OF THE BENI ARAB PAYMENTS PLATFORM

2021-07-01

The Arab Monetary Fund holds an interactive workshop to enrich the level of knowledge of the activities of the Buna platform for Arab payments and its future plans

The workshop will host more than 200 participants from representatives of central banks and financial and banking institutions

Today, Thursday, July 1, 2021, the Arab Monetary Fund will hold a "remotely" workshop, aimed at enhancing knowledge about the "Buna" platform for Arab payments, affiliated with the Regional Institution for Clearing and Settlement of Arab Payments owned by the Fund, by reviewing the various aspects related to the activities of the Arab Monetary Fund. And the work of the "Buna Platform" and its future plans.

Through this interactive workshop, the management team of the “Bunna” platform for Arab payments aims to enrich the banking sector’s information on the innovative solutions offered by “Bunna” and provide more knowledge about its tangible contribution to the development of payment systems in the Arab region and abroad, through a dialogue session to answer Any questions raised by the participating banks and financial institutions. The workshop will address a variety of topics, including: operational processes, the current and future list of Buna products and services and its development program, the approved model for implementing clearing and settlement operations, security standards and procedures for compliance aspects.

More than 200 participants representing central banks, financial and banking institutions, and financial service providers will participate in the workshop, to closely monitor the activities of the Buna platform, the development of its business and future plans.

On this occasion, Mr. Mahdi Manea, CEO of the Regional Institution for Arab Payments Clearing and Settlement (Bunna Platform for Arab Payments), said: “Since its inception, the Buna Platform for Arab Payments has made great and continuous efforts to spread and enhance the level of knowledge about its innovative services. We are fully convinced that cooperation with all components of The banking sector constitutes an essential element for achieving growth in the payments sector and the entire financial industry in the Arab region, and contributing to increasing the efficiency of cross-border payments at the global level .”

Manea added : “The Buna Arab Payments platform is an effective response to the four main challenges of cross-border payment, namely cost, speed, access and transparency, through the platform’s ability to simplify payment processes and integrate various services into one system. We are very happy to see that the added value provided by the "Bunni" platform has become clearly known and tangible by the various banks participating in the platform, and is more accepted and noted by the payments sector globally. In addition, the Buna platform's compliance with the highest global standards of information security and anti-financial crime requirements makes it a secure cross-border payment gateway ."

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, aiming to enable 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 different 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 standards and procedures for compliance aspects.

https://www.amf.org.ae/ar/content/%D8%AA%D8%B9%D8%B2%D9%8A%D8%B2-%D8%A7%D9%84%D9%85%D8%B9%D8%B1%D9%81%D8%A9-%D8%A8%D8%AE%D8%AF%D9%85%D8%A7%D8%AA-%D9%88%D8%AA%D9%88%D8%AC%D9%87%D8%A7%D8%AA-%D9%85%D9%86%D8%B5%D8%A9-%D8%A8%D9%8C%D9%86%D9%89-%D9%84%D9%84%D9%85%D8%AF%D9%81%D9%88%D8%B9%D8%A7%D8%AA-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9

Here is the follow-up with the Arab Monetary Fund on the "BUNA" system I still maintain the importance of what happens between the Arab Monetary Fund, which represents the Middle East, like the European Monetary Fund, the International Monetary Fund !!

We can clearly see the changes that are currently being made, namely the tripartite meeting, progress on the banking system, customs control, the creation of the e-electronic system in the government to control fraud, the visit of the Iraqi Prime Minister at present. on the European side, etc ...

We are still on the parallel system, and we are not yet on the free market, but with the news coming out more and more, I see that we are approaching the goal !!

Currently my questioning would be ??? they are doing everything to settle the problems in Iraq with the Prime Minister, either the UN demands, could this be settled before the elections in October to make a change, where well will they wait? 'have the new government to make the change for the free market just in the new year, early 2022 !!

We see that with this government in less than a year, they have realized what is delaying in 17 years !!

But as to mention this is my personal opinion, I am not a guru, just an individual who shares news about what is happening in Iraq !!

I'm getting close to my departure Sunday morning, so the news on my side will slow down on my side, good week everyone !!!

Claud (Moose)

https://www.dinardaily.net/t100064-the-arab-monetary-fund-holds-an-interactive-workshop-to-review-the-value-provided-by-the-buna-platform-for-arab-payments-in-implementing-cross-border-payments-in-multiple-currencies