WORKSHOP TO ENROLL BANKS OPERATING IN THE UNITED ARAB EMIRATES

by **claud39** Wed Jun 03, 2020 10:26 am

AFTER COMPLETING THE INCLUSION OF THE EMIRATI DIRHAM, THE CURRENCY MOST USED IN INTER-ARAB FINANCIAL TRANSACTIONS, THE CENTRAL BANK OF THE UNITED ARAB EMIRATES AND THE ARAB MONETARY FUND ARE ORGANIZING A WORKSHOP TO ENROLL BANKS OPERATING IN THE UNITED ARAB EMIRATES ON THE "BENI" PLATFORM ...

2020-06-02

After the completion of the UAE include the dirham
more currency used in Arab financial transactions Intra, the
Bank of the United Arab Emirates Central and the Arab Monetary Fund organize a workshop to inflict banks operating in the United Arab Emirates in the platform "built" Arab payments
UAE dirham 's first currency listed on the podium

After announcing the launch of the "Beni" platform for Arab payments of the regional institution for the clearing and settlement of Arab payments owned by the Arab Monetary Fund, the fund continues its efforts in following up the process of attaching central and commercial banks to the platform. In this context, the Arab Monetary Fund, in cooperation with the Central Bank of the United Arab Emirates, today, Tuesday, 2 June, will organize a workshop to place banks operating in the United Arab Emirates on the platform, with the participation of senior officials from all banks operating in the country.

The workshop discusses the process of enrollment of banks operating in the United Arab Emirates in the "structures" platform and the proposed work plan, and addresses the technical requirements and steps required to ensure their easy connection to the platform. It also includes an offer for the Central Bank of the United Arab Emirates, in which it reviews the most important advantages of the platform in developing payment services in the region and the services it provides to banks in enhancing its role in supporting investments, inter-trade and economic ties with the trading partners of the United Arab Emirates.

It is worth noting that this workshop comes after completing the inclusion of the Emirati dirham in the platform as the first currency to be settled and is the Arab currency most used in inter-financial financial transactions between Arab countries. It is also considered the first of a series of workshops devoted to the placement of banks in every Arab country.

It is worth noting that the "Bani" platform represents a multi-currency payment platform that provides clearing and settlement services in Arab currencies and international currencies that meet the eligibility requirements, for clearing and settling inter-Arab financial transactions as well as financial transactions between Arab countries and the main trading partners of the Arab countries. The platform aims to enable financial and banking institutions in the Arab region, including central and commercial banks, to send and receive inter-payments across the Arab region and beyond in a safe and reliable manner at an appropriate cost and high effectiveness. The Bani platform provides participants with modern payment solutions that comply with international standards, principles and international compliance requirements. 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, in the forefront of which are the standards and procedures for compliance aspects.

His Excellency the Director General of the Chairman of the Board of Directors of the Arab Monetary Fund, Dr. Abdul Rahman bin Abdullah Al Hamidi, expressed his gratitude for the cooperation of colleagues in the Central Bank of the United Arab Emirates, which was entrusted with the inclusion of the Emirati dirham as the first Arab currency in the "Beni" platform for payments, looking forward to complete the procedures for including the rest of the currencies Announced Arabic.

https://www.amf.org.ae/ar/content/%D8%A8%D8%B9%D8%AF-%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%D8%B1%D9%87%D9%85-%D8%A7%D9%84%D8%A5%D9%85%D8%A7%D8%B1%D8%A7%D8%AA%D9%8A-%D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9-%D8%A3%D9%83%D8%AB%D8%B1-%D8%A7%D8%B3%D8%AA%D8%AE%D8%AF%D8%A7%D9%85%D8%A7%D9%8B-%D9%81%D9%8A-%D8%A7%D9%84%D9%85%D8%B9%D8%A7%D9%85%D9%84%D8%A7%D8%AA-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A%D8%A9-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9