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THE ARAB MONETARY FUND ORGANIZES THE TWELFTH "REMOTE" WORKSHOP TO PLACE BANKS ON THE "BENI" PLATFORM DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

THE ARAB MONETARY FUND ORGANIZES THE TWELFTH "REMOTE" WORKSHOP TO PLACE BANKS ON THE "BENI" PLATFORM

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THE ARAB MONETARY FUND ORGANIZES THE TWELFTH "REMOTE" WORKSHOP TO PLACE BANKS ON THE "BENI" PLATFORM Empty THE ARAB MONETARY FUND ORGANIZES THE TWELFTH "REMOTE" WORKSHOP TO PLACE BANKS ON THE "BENI" PLATFORM

Post by claud39 on Fri Jul 10, 2020 11:17 am

THE ARAB MONETARY FUND ORGANIZES THE TWELFTH "REMOTE" WORKSHOP TO PLACE BANKS ON THE "BENI" PLATFORM FOR ARAB PAYMENTS A WIDE PARTICIPATION OF ARAB AND INTERNATIONAL BANKS TO DISCUSS TRANSFER FEES IN THE "BENI" PLATFORM AND THE FEATURES AND CHARACTERISTICS OF COMMUNICATION BETWEEN PARTICIPANTS IN THE PLATFORM




 2020-07-09


THE ARAB MONETARY FUND ORGANIZES THE TWELFTH "REMOTE" WORKSHOP TO PLACE BANKS ON THE "BENI" PLATFORM Logo-ar



With the launch of the "Beni" platform for Arab payments of the Regional Institution for Clearing and Settlement of Arab Payments owned by the Arab Monetary Fund, the Fund continues its efforts in following up the process of procedures for attaching central and commercial banks to the platform. In this context, the Fund is organizing today, Thursday, July 9th, the ninth "tele-workshop" for the placement of banks (the twelfth in a series of communication workshops with banks operating in the Arab region), with the participation of senior officials from more than 100 banks Operating in and outside the Arab region, which has indicated its willingness to join the platform.  

 

 The workshop discusses the types of fees the platform supports for transfers and payments settled through. In this context, the workshop reviews the options available to the participants and how the platform deals with them in line with the needs of banks and global practices followed. The workshop also includes a presentation on the features available to participants to communicate and exchange information about payments through the platform. 

 

This workshop, aimed at all banks operating in the Arab region, is the ninth of a series of focused workshops, dealing with several strategic issues organized over a number of weeks in a digital format from a distance, in addition to workshops dedicated to banks in each country separately.  

 

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 abroad 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, at the forefront of which are the standards and procedures for compliance aspects.

 

On this occasion, His Excellency the Director General of the Board of Directors of the Arab Monetary Fund, Dr. Abdul Rahman bin Abdullah Al-Hamidi, expressed his happiness at continuing to hold workshops to enhance partnership with banks and financial and banking institutions and discuss future plans to develop the services of the "Beni" platform for Arab payments. His Excellency renewed his sincere appreciation and gratitude to the Excellencies, Governors of central banks and Arab monetary institutions for their support to the Fund's efforts to establish the platform.







https://www.amf.org.ae/ar/content/%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-%D9%88%D8%B1%D8%B4%D8%A9-%D8%A7%D9%84%D8%B9%D9%85%D9%84-%D8%A7%D9%84%D8%AB%D8%A7%D9%86%D9%8A%D8%A9-%D8%B9%D8%B4%D8%B1%D8%A9-%D8%B9%D9%86-%D8%A8%D8%B9%D8%AF-%D9%84%D8%A7%D9%84%D8%AD%D8%A7%D9%82-%D8%A7%D9%84%D8%A8%D9%86%D9%88%D9%83-%D9%81%D9%8A-%D9%85%D9%86%D8%B5%D8%A9-%D8%A8%D9%86%D9%89-%D9%84%D9%84%D9%85%D8%AF%D9%81%D9%88%D8%B9%D8%A7%D8%AA
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THE ARAB MONETARY FUND ORGANIZES THE TWELFTH "REMOTE" WORKSHOP TO PLACE BANKS ON THE "BENI" PLATFORM Empty "ARAB MONETARY" CONTINUES ITS EFFORTS TO ATTACH BANKS TO THE "BENI" PLATFORM

Post by claud39 on Fri Jul 10, 2020 11:19 am

"ARAB MONETARY" CONTINUES ITS EFFORTS TO ATTACH BANKS TO THE "BENI" PLATFORM






10/07/2020





THE ARAB MONETARY FUND ORGANIZES THE TWELFTH "REMOTE" WORKSHOP TO PLACE BANKS ON THE "BENI" PLATFORM %C2%AB%D8%A7%D9%84%D9%86%D9%82%D8%AF-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%C2%BB-%D9%8A%D9%88%D8%A7%D8%B5%D9%84-%D8%AC%D9%87%D9%88%D8%AF%D9%87-%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%A8%D9%85%D9%86%D8%B5%D8%A9-%C2%AB%D8%A8%D9%86%D9%89%C2%BB








The Fund continues its efforts in following up the process of attaching central and commercial banks to the "Beni" platform for Arab payments of the Regional Corporation for Clearing and Settlement of Arab Payments owned by the Arab Monetary Fund.







Yesterday, the Arab Monetary Fund organized the ninth tele-workshop to attach banks (the twelfth in a series of communication workshops with banks operating in the Arab region), with the participation of senior officials from more than 100 banks operating in the Arab region and outside, which expressed their willingness to join the Platform.




The workshop discussed the types of fees, which the platform supports for transfers and payments, which are settled through them. In this framework, the workshop reviews the options available to the participants, and how the platform deals with them, in line with the needs of banks and global practices followed. The workshop also includes a presentation on the features available to the participants, to communicate and exchange information about payments through the platform.




And this series of workshops touches on several strategic topics organized remotely, in addition to workshops devoted to banks in each country separately. The Director General of the Board of Directors of the Arab Monetary Fund, Dr. Abdul Rahman Al-Hamidi, affirmed that the continuation of the workshops comes to enhance the partnership with banks and financial and banking institutions and to discuss future plans to develop the services of the “Beni” platform.










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THE ARAB MONETARY FUND ORGANIZES THE TWELFTH "REMOTE" WORKSHOP TO PLACE BANKS ON THE "BENI" PLATFORM Empty The central bank participates in the Bani platform

Post by claud39 on Mon Jul 13, 2020 11:17 am

Another good news in the right direction towards a change, good day to all !!!     ayestu


Claud (Moose)



The central bank participates in the Bani platform




13/07/2020



THE ARAB MONETARY FUND ORGANIZES THE TWELFTH "REMOTE" WORKSHOP TO PLACE BANKS ON THE "BENI" PLATFORM 21888







Economy News _ Baghdad



The Central Bank of Iraq announced, Monday, that it will organize and in cooperation with the Arab Monetary Fund this morning, a workshop for banks operating in Iraq to participate in the "structures" platform for Arab payments.

The bank added in a statement, "Economy News" received a copy of it, "This comes after the announcement of the launch of a platform for Arab payments of the Regional Corporation for the clearing and settlement of Arab payments, which is managed by the Arab Monetary Fund, and preparations are made for this bank and a number of local banks for direct participation in Platform".

The
statement pointed out , that " the workshop will discuss the work of the proposed plans of banks and address the technical requirements and the steps required to ensure that facilitate linking them to see how the platform and the readiness of banks to it."

He explained
that the "platform built represents a multi - currency payment platform provides clearing services and settlement currencies Arab and international currencies in which the eligibility requirements are available, for clearing and settlement of financial transactions intra - Arab as well as financial transactions between the Arab countries and trading partners presidents of Arab countries."


He continued: "The platform also aims to enable financial and banking institutions in the Arab region, including central and commercial banks, to send and receive inter-payments in all parts of the Arab region and outside in a safe and reliable manner at an appropriate cost and high efficiency, in addition to that the Beni platform provides the participants with payment solutions Hadith conforms to international standards, principles and international compliance requirements. "

Showed
that, "In the economic and financial integration opportunities in the Arab region , it is where it effectively contributes to support investment ties with Arab countries in various continents trading
partners. It will be the platform available to all banks that meet the criteria and conditions for participation, and in the forefront of standards and procedures Compliance aspects. "







http://economy-news.net/content.php?id=20996
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THE ARAB MONETARY FUND ORGANIZES THE TWELFTH "REMOTE" WORKSHOP TO PLACE BANKS ON THE "BENI" PLATFORM Empty THE CENTRAL BANK OF IRAQ AND THE ARAB MONETARY FUND ORGANIZE A WORKSHOP TO PLACE BANKS OPERATING IN THE REPUBLIC OF IRAQ IN THE "STRUCTURES" PLATFORM FOR ARAB PAYMENTS A WIDE PARTICIPATION OF COMMERCIAL BANKS REFLECTS THE GROWING INTEREST IN PARTICIPATING

Post by claud39 on Tue Jul 14, 2020 11:23 am

THE CENTRAL BANK OF IRAQ AND THE ARAB MONETARY FUND ORGANIZE A WORKSHOP TO PLACE BANKS OPERATING IN THE REPUBLIC OF IRAQ IN THE "STRUCTURES" PLATFORM FOR ARAB PAYMENTS A WIDE PARTICIPATION OF COMMERCIAL BANKS REFLECTS THE GROWING INTEREST IN PARTICIPATING IN THE PLATFORM




2020-07-13


THE ARAB MONETARY FUND ORGANIZES THE TWELFTH "REMOTE" WORKSHOP TO PLACE BANKS ON THE "BENI" PLATFORM Logo-ar










With the announcement of 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, a fund in cooperation with the Central Bank of Iraq today, Monday, July 13, will organize a workshop to place 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 attaching banks operating in the Republic of Iraq to the "structures" platform and the proposed work plan, and addresses the technical requirements and steps required to ensure that they are easily connected to the platform.


 It also includes an offer for the Central Bank of Iraq, 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 trade partners of Iraq.


It is worth noting that this workshop comes after holding more than thirteen workshops at the level of the Arab region punctuated by a wide participation of commercial banks operating in the Republic of Iraq, which has shown a growing interest in participation within the group of first users on the platform. It is also the eighth workshop of a series of workshops devoted to the placement of banks in every Arab country.


It should be noted 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, to 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 Fund’s Board Chairman, 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 for the workshop and accelerating the attachment of banks in Iraq to the "Beni" platform for payments. He also praised the great enthusiasm shown by Iraqi banks to participate in the platform.





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THE ARAB MONETARY FUND ORGANIZES THE TWELFTH "REMOTE" WORKSHOP TO PLACE BANKS ON THE "BENI" PLATFORM Empty THE ARAB MONETARY FUND PUBLISHES A STUDY ON "THE INTERNAL EVALUATION OF CAPITAL ADEQUACY"

Post by claud39 on Wed Jul 15, 2020 10:45 am

THE ARAB MONETARY FUND PUBLISHES A STUDY ON "THE INTERNAL EVALUATION OF CAPITAL ADEQUACY"
2020-07-14



THE ARAB MONETARY FUND ORGANIZES THE TWELFTH "REMOTE" WORKSHOP TO PLACE BANKS ON THE "BENI" PLATFORM Logo-ar






Within the framework of the tasks of the Arab Monetary Fund as a technical secretariat for the committees and work teams emanating from the Board of Governors of Central Banks and Arab Monetary Institutions, and in the context of the work of the Arab Committee for Banking Supervision, the Arab Monetary Fund, in cooperation with the Arab Committee for Banking Supervision, prepared a study on "the internal assessment of capital adequacy" . The study aims to shed light on the internal evaluation process for capital adequacy and the subsequent audit review process of the evaluation process, by reviewing the regulatory frameworks for the internal assessment of capital adequacy in the Arab countries, in addition to examining the supervisory methodologies and methods used by the supervisory authorities to review and evaluate evaluation processes The internal of the capital, and the internal methods used by the banks.


The "internal assessment of capital adequacy" is a process that complements the requirements of the minimum regulatory capital - the first pillar, as it takes into account the existence of a wide range of types of risks, and measures the ability of internal banks to manage their risks and capital through the development of internal risk models.



An internal assessment of capital adequacy may lead to the identification of capital requirements above regulatory limits, for two main reasons: covering a greater set of risks compared to the requirements of the first pillar, and discovering deficiencies in risk management and capital at banks through the supervisory review and evaluation process that they implement Regulatory authorities.



The primary objective of the second pillar is to align the general framework of the bank’s risks with its risk management systems and the required capital, as banks should develop sound operations to manage the risks they face by identifying, measuring, monitoring and controlling risks. Accordingly, banks must establish an efficient evaluation process that covers all the major elements of capital plans and management, and provide adequate capital to meet these risks.



The bank has the responsibility to develop internal evaluation procedures for capital adequacy to be comprehensive and commensurate with the size and quality of risks and capital planning accordingly, and the bank’s management must pay attention to qualitative aspects in relation to risk management, as well as the impact of economic cycles, the degree of sensitivity to risks and any factors External or other internal with the nature of the risks associated with its activities, and the circumstances in which it operates through dialogue with the regulatory authority.



The internal assessment of capital adequacy must address all the significant risks faced by banks as they relate to capital adequacy, including all risks that have been explicitly identified in the minimum regulatory capital requirements as well as risks that have not been fully contained under the minimum capital requirements Regulatory. And that the techniques used in assessing important risks are commensurate with the scope and complexity of the bank's risk activities. Examples of these risks include: credit risk, liquidity risk, concentration risk, operational risk, cross-border risk, market risk.



The study showed the most important characteristics of the internal evaluation of capital adequacy, such as being an essential part of the bank’s management process and decision-making culture, that it is reviewed periodically, and that it is based on risk .



The study also touched on the basic principles of the audit audit and evaluation process, as well as a review of methodologies and control methods for the review and evaluation of capital adequacy. As the main components of the audit review and evaluation process were reviewed, which are: reviewing the bank’s risk profile, reviewing the internal assessment of capital adequacy, determining the minimum capital adequacy requirements and the level of additional fenders and / or other regulatory measures, reporting on the results of the bank’s audit review, And continuous monitoring of the level of capital adequacy.



The study showed a number of results, the most important of which are: The majority of Arab central banks issued special instructions / guidelines to implement the requirements of the internal evaluation of capital adequacy, and the Arab central banks applying to the requirements of the second pillar conducted a review and evaluation of the process of internal evaluation of capital adequacy periodically, in addition to conducting a dialogue With the banks regarding the results of the review and evaluation process, and that the risks of the first pillar constitute the largest percentage of risks facing banks by about 77.6%, while the risks of the second pillar constitute 22.4%.



Finally, the study presents a number of recommendations, including the need for the non-applied Arab central banks to adopt the implementation of the second pillar of internal evaluation of capital adequacy, and to invite Arab central banks to develop standardized forms for internal evaluation reports of capital adequacy as well as developing an internal control methodology on The audit review and evaluation process, and the results of the internal evaluation of the capital adequacy are subject to review by the bank's internal audit.
 




The full version of the study is available at this link














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THE ARAB MONETARY FUND ORGANIZES THE TWELFTH "REMOTE" WORKSHOP TO PLACE BANKS ON THE "BENI" PLATFORM Empty THE ARAB MONETARY FUND ORGANIZES AN EXTRAORDINARY MEETING REMOTELY AS PART OF A SERIES OF MEETINGS ENTITLED "THE SAFETY OF MODERN FINANCIAL TECHNOLOGIES INDUSTRY AND SUPPORTING DIGITAL TRANSFORMATION IN THE AFTERMATH OF THE COVID 19 CRISIS"

Post by claud39 on Wed Jul 15, 2020 10:55 am

THE ARAB MONETARY FUND ORGANIZES AN EXTRAORDINARY MEETING REMOTELY AS PART OF A SERIES OF MEETINGS ENTITLED "THE SAFETY OF MODERN FINANCIAL TECHNOLOGIES INDUSTRY AND SUPPORTING DIGITAL TRANSFORMATION IN THE AFTERMATH OF THE COVID 19 CRISIS"




2020-07-14



THE ARAB MONETARY FUND ORGANIZES THE TWELFTH "REMOTE" WORKSHOP TO PLACE BANKS ON THE "BENI" PLATFORM Logo-ar












Tuesday, July 14, 2020

The time is 15:00 to 17:30 Abu Dhabi time

 

The meeting discusses:

 

Maximizing opportunities to take advantage of digital currencies for central banks

And techniques of modern organizational solutions

Read the guide for financial technologies and its role in promoting awareness of the system of modern financial 

technologies in the Arab countries



 

On Tuesday, 14 July 2020, the Arab Monetary Fund is organizing the fifth tele-meeting of the Working Group on Modern Financial Technologies, in order to complete a discussion of the implications of the Corona Virus on the manufacture of modern financial technologies, within a series of meetings entitled " Safety of the Modern Financial Technologies Industry and Supporting the Digital Transformation" Following the COVID 19 virus crisisOfficials of modern financial technologies and payments with central banks and Arab monetary institutions, in addition to the Arab Monetary Fund, which is responsible for the technical secretariat of the committees and work teams emanating from the Board of Governors of central banks and Arab monetary institutions, will attend the meeting. 


Representatives from regional and international institutions such as a fund will attend the meeting. Monetary, the World Bank, the Bank for International Settlements, the Financial Stability Board, the Islamic Development Bank, the Financial Stability Institute, the International Finance Institute, the German Development Agency, the Cambridge University Center for Alternative Finance, and the European Institute of Banks. From Arab banks, and major consulting firms working on the same subject in the world, and representatives of providers of services and solutions of modern financial technologies from the Arab region and outside.


Continued holding of the group's consultative meetings comes to enhance dialogue and exchange of experiences and experiences, and develop the capabilities of workers in the supervisory and supervisory authorities in the Arab countries, in order to improve the safety of the modern financial technology industry and support digital transformation in the Arab countries. This meeting aims to study the latest developments in digital currencies issued by central banks, especially the opportunities for Arab central banks to benefit from them, the extent of their issuance challenges and the legal requirements associated with them. 


The meeting will discuss what can be provided by the supervisory and supervisory technical solutions to support the supervisory and supervisory authorities in the Arab countries, and how they can benefit from those solutions in the performance of their mission. The discussion also dealt with the legislative structure and regulatory framework associated with the manufacture of modern financial technologies and the requirements for strengthening the regulatory framework to maintain a balance between the legislative and regulatory framework and support for digital innovations.


On the other hand, the meeting addresses the guidelines for modern financial technologies in the Arab countries, which were prepared by the Arab Monetary Fund and members of the group. 


The preparation of the guide reflects the interest in enhancing the supportive environment for modern financial technologies in the Arab countries, introducing industry in our Arab countries, and raising awareness of various aspects of modern financial technology sectors, which contributes to supporting the efforts of Arab countries to benefit from technologies. In this context, the group will discuss launching a mechanism for digital dialogue on the guide using artificial intelligence techniques, with the aim of maximizing opportunities to benefit from the contents of the guide.


On this occasion, His Excellency the Director General of the Chairman of the Board of Directors of the Arab Monetary Fund, Dr. Abd al-Rahman bin Abdullah al-Hamidi, pointed out that the continuation of the extraordinary meetings comes to confirm that the modern financial technology sector is considered a priority for central banks and Arab monetary institutions, and what it can contribute to by strengthening The capabilities of Arab economies to face the current challenges and prepare for the post-crisis recovery phase. 


 His Excellency also affirmed the increasing interest shown by Excellencies and Governors of central banks and Arab monetary institutions for the work of the committees and work teams and the prominent role they play as a platform for dialogue, knowledge transfer and exchange of experiences and experiences between Arab countries regarding issues of financial inclusion.













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THE ARAB MONETARY FUND ORGANIZES THE TWELFTH "REMOTE" WORKSHOP TO PLACE BANKS ON THE "BENI" PLATFORM Empty AFTER ANNOUNCING THE INCLUSION OF THE SAUDI RIYAL IN THE “BENI” PLATFORM FOR ARAB PAYMENTS, THE SAUDI RIYAL IS THE MOST USED ARAB CURRENCY IN THE WORLD, THE SAUDI ARABIAN MONETARY AGENCY AND THE ARAB MONETARY FUND ORGANIZE A WORKSHOP TO PLACE BANKS OPERAT

Post by claud39 on Fri Jul 17, 2020 10:08 am

AFTER ANNOUNCING THE INCLUSION OF THE SAUDI RIYAL IN THE “BENI” PLATFORM FOR ARAB PAYMENTS, THE SAUDI RIYAL IS THE MOST USED ARAB CURRENCY IN THE WORLD, THE SAUDI ARABIAN MONETARY AGENCY AND THE ARAB MONETARY FUND ORGANIZE A WORKSHOP TO PLACE BANKS OPERATING IN THE KINGDOM OF SAUDI ARABIA ON THE PLATFORM


2020-07-16





THE ARAB MONETARY FUND ORGANIZES THE TWELFTH "REMOTE" WORKSHOP TO PLACE BANKS ON THE "BENI" PLATFORM Logo-ar










After announcing the inclusion of the Saudi riyal on the "Beni" platform for Arab payments

The Saudi Riyal is the most used Arab currency in the world

  The Saudi Arabian Monetary Agency and the Arab Monetary Fund organize a workshop to place banks operating in the Kingdom of Saudi Arabia on the platform



 

With the launch of the "Beni" platform for Arab payments of the Regional Foundation for 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 Fund, in cooperation with the Saudi Arabian Monetary Agency, on Thursday, July 16, will organize a workshop to place banks operating in the Kingdom of Saudi Arabia on the platform, in which senior officials from all banks and financial institutions in the Kingdom will participate.



The “Bani” platform for Arab payments provides distinct services to Saudi banks to accelerate clearing and settlement of cross-border payments and reduce their costs, in light of the role that Saudi Arabia plays in economic, investment and financial activity in the Arab region. In 2018, the number of payments in circulation between the Arab countries and the Kingdom reached more than 2.7 million transactions with a total value of more than $ 2 trillion, not including individual transfers through exchange companies . 



The Saudi riyal also acquires a large percentage of Arab payments, given that it is the largest Arab currency that is traded worldwide and the second Arab currency to be traded across borders in the Arab world, in terms of the number of transactions that exceed about 580 thousand transactions in Saudi riyals that are settled across borders annually between countries. Arabic.



The workshop discusses the process of attaching banks operating in the Kingdom of Saudi Arabia to the "Bani" platform and the proposed work plan, and also addresses the technical requirements and steps required to ensure their easy connection to the platform. The workshop includes a presentation by the Saudi Arabian Monetary Agency, in which the institution reviews the most important advantages of the platform in developing payment services in the region and the services it provides to Saudi banks in enhancing its role in supporting investments, inter-trade and economic ties with the Kingdom's trading partners.



It is worth noting that this workshop comes after the announcement of the inclusion of the Saudi riyal in the platform as one of the Arab currencies that will be used to settle financial transactions. It is also the ninth workshop of a series of workshops dedicated to appending banks in every Arab country.



It should be noted 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, to 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 abroad 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 Fund’s Board Chairman, Dr. Abdul Rahman bin Abdullah Al-Hamidi, expressed his appreciation and gratitude to His Excellency the Governor of the Saudi Arabian Monetary Agency for his continuous support for the “Beni” platform for Arab payments and for the cooperation of his colleagues in the institution in encouraging the participation of Saudi banks , looking forward to completing the procedures to include the riyal Saudi Arabia on the platform, as well as completing the procedures to include the rest of the Arab currencies that were announced.






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THE ARAB MONETARY FUND ORGANIZES THE TWELFTH "REMOTE" WORKSHOP TO PLACE BANKS ON THE "BENI" PLATFORM Empty THE ARAB MONETARY FUND CONTINUES TO HOLD INTERACTIVE WORKSHOPS "REMOTELY" WITH ARAB BANKS TO JOIN THE "BENI" PLATFORM FOR ARAB PAYMENTS A PANEL DISCUSSION ON THE ROLE AND EXPERIENCE OF ARAB AND INTERNATIONAL CENTRAL BANKS WIDE PARTICIPATION OF ARAB AND IN

Post by claud39 on Tue Jul 28, 2020 12:08 pm

THE ARAB MONETARY FUND CONTINUES TO HOLD INTERACTIVE WORKSHOPS "REMOTELY" WITH ARAB BANKS TO JOIN THE "BENI" PLATFORM FOR ARAB PAYMENTS A PANEL DISCUSSION ON THE ROLE AND EXPERIENCE OF ARAB AND INTERNATIONAL CENTRAL BANKS WIDE PARTICIPATION OF ARAB AND INTERNATIONAL COMMERCIAL BANKS


2020-07-27





THE ARAB MONETARY FUND ORGANIZES THE TWELFTH "REMOTE" WORKSHOP TO PLACE BANKS ON THE "BENI" PLATFORM Logo-ar












The Arab Monetary Fund continues to hold meetings and workshops directed to banks operating in the Arab countries as part of the launch of the "Beni" platform for Arab payments of the regional institution for clearing and settlement of Arab payments owned by the fund, as the fund intensifies its efforts in following up the process of procedures for attaching central and commercial banks to the platform. In this context, the Fund will organize the tenth “remote” workshop on Monday, July 27 (July) to join banks (the fourteenth in a series of communication workshops with banks), with the participation of senior officials from more than 110 banks operating in the Arab region and outside , Which has shown interest in joining the platform in the early stages of its launch.



The workshop consists of a high-level panel discussion between a group of representatives of Arab and international central banks participating and supporting the platform, in which they discuss the importance and role of the platform in activating investments and intra-regional trade between Arab countries and with the world, sharing their experience in joining the platform and their aspirations of its services. The discussions also deal with the most important developments and challenges facing cross-border payment systems and the role of the "structures" platform in this regard, in addition to addressing the implications of the platform's services and products in promoting additional services by commercial banks through their participation in the platform.



The workshop represents the tenth stop of a series of focused workshops, which address several strategic issues and are organized over a number of weeks digitally from a distance, given the current situation.



It should be noted 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, to 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 abroad 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, at the forefront of which are the standards and procedures for compliance aspects.



On this occasion, His Excellency the Director General of the Board of Directors of the Arab Monetary Fund, Dr. Abdul Rahman bin Abdullah Al-Hamidi, expressed his gratitude to the central banks and Arab monetary institutions for their support for the Fund's efforts to establish a "structures" platform for Arab payments, noting also the cooperation of the global central banks. He also expressed his happiness for continuing to hold workshops with banks to enhance partnership with banks and financial and banking institutions in benefiting from the services and products offered by the platform.












https://www.amf.org.ae/ar/content/%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% 88% D8% A7% D8% B5% D9% 84-% D8% B9% D9% 82% D8% AF-% D8% A7% D9% 84% D9% 88% D8% B1% D8% B4-% D8% A7% D9% 84% D8% AA % D9% 81% D8% A7% D8% B9% D9% 84% D9% 8A% D8% A9-% D8% B9% D9% 86-% D8% A8% D8% B9% D8% AF-% D9% 85% D8% B9-% D8% A7% D9% 84% D8% A8% D9% 86% D9% 88% D9% 83-% D8% A7% D9% 84% D8% B9% D8% B1% D8% A8% D9% 8A% D8% A9-% D9% 84% D9% 84% D8% A7% D9% 84% D8% AA% D8% AD% D8% A7% D9% 82-% D8% A8% D9% 85% D9% 86% D8% B5% D8% A9-% D8% A8% D9% 86% D9% 89
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THE ARAB MONETARY FUND ORGANIZES THE TWELFTH "REMOTE" WORKSHOP TO PLACE BANKS ON THE "BENI" PLATFORM Empty AFTER COMPLETING THE TECHNICAL INTERCONNECTION PROCESS, THE CENTRAL BANK OF THE UNITED ARAB EMIRATES AND THE ARAB MONETARY FUND ANNOUNCE THE LAUNCH OF SETTLEMENT OPERATIONS IN UNITED ARAB EMIRATES DIRHAM, THE FIRST DIRHAM OF THE UAE CURRENCY TO BE INCLUDE

Post by claud39 on Thu Aug 06, 2020 9:57 am

AFTER COMPLETING THE TECHNICAL INTERCONNECTION PROCESS, THE CENTRAL BANK OF THE UNITED ARAB EMIRATES AND THE ARAB MONETARY FUND ANNOUNCE THE LAUNCH OF SETTLEMENT OPERATIONS IN UNITED ARAB EMIRATES DIRHAM, THE FIRST DIRHAM OF THE UAE CURRENCY TO BE INCLUDED IN THE "BENI" PLATFORM FOR ARAB PAYMENTS
2020-08-05



THE ARAB MONETARY FUND ORGANIZES THE TWELFTH "REMOTE" WORKSHOP TO PLACE BANKS ON THE "BENI" PLATFORM Logo-ar








Banks participating in the platform can use the UAE dirham to send and receive payments across borders

 

After completing the technical interconnection process, the Central Bank of the United Arab Emirates and the Arab Monetary Fund are pleased to announce the signing of an agreement between them to launch settlement operations in UAE dirhams on the "Beni" platform for Arab payments.



 This announcement is the culmination of the efforts made by both the UAE Central Bank team and the "Beni" platform team, to link regulations, take tests and complete procedures during the past months to include the UAE dirham as the first settlement currency on the platform.



The launch of settlement operations in UAE dirhams, banks operating in Arab countries and participation in the "structures" platform can accelerate the clearing and settlement of cross-border payments made in dirhams and reduce their costs. 



The UAE dirham accounts for a large proportion of Arab payments due to the fact that it is the largest Arab currency that is traded across borders in the Arab world, as the share of transactions in dirhams exceeds more than 13 per cent of the total inter-Arab financial transactions (this does not include transfers of individuals through exchange companies).



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 abroad 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, at the forefront of which are the standards and procedures for compliance aspects. 



In this context, His Excellency the Director General of the Chairman of the Arab Monetary Fund, Dr. Abdul Rahman bin Abdullah Al Hamidi, expressed his pleasure at launching settlement operations in UAE dirhams, and his appreciation and gratitude to His Excellency the Governor of the Central Bank of the United Arab Emirates for his continuous support for the "Beni" platform for Arab payments and for the cooperation of his colleagues The bank has the right to complete the procedures for including the Emirati dirham as the first currency in the "structures" platform for payments and encourage the participation of commercial banks in it. 



His Excellency also renewed his aspiration to launch settlement operations for other Arab currencies that have been announced included in the platform.






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THE ARAB MONETARY FUND ORGANIZES THE TWELFTH "REMOTE" WORKSHOP TO PLACE BANKS ON THE "BENI" PLATFORM Empty THE ARAB MONETARY FUND CONTINUES TO HOLD INTERACTIVE WORKSHOPS "REMOTELY" WITH ARAB BANKS TO JOIN THE "BANI" ARAB PAYMENTS PLATFORM. A SEMINAR ON INFORMATION PROTECTION AND SECURITY IN THE "BANI" PAYMENTS PLATFORM, WITH A WIDE PARTICIPATION OF ARAB AND IN

Post by claud39 on Fri Aug 14, 2020 9:20 am

@claud39 wrote:Another good news in the right direction towards a change, good day to all !!!     ayestu


Claud (Moose)



The central bank participates in the Bani platform




13/07/2020



THE ARAB MONETARY FUND ORGANIZES THE TWELFTH "REMOTE" WORKSHOP TO PLACE BANKS ON THE "BENI" PLATFORM 21888







Economy News _ Baghdad


The Central Bank of Iraq announced, Monday, that it will organize and in cooperation with the Arab Monetary Fund this morning, a workshop for banks operating in Iraq to participate in the "structures" platform for Arab payments.
The bank added in a statement, "Economy News" received a copy of it, "This comes after the announcement of the launch of a platform for Arab payments of the Regional Corporation for the clearing and settlement of Arab payments, which is managed by the Arab Monetary Fund, and preparations are made for this bank and a number of local banks for direct participation in Platform".

The
statement pointed out , that " the workshop will discuss the work of the proposed plans of banks and address the technical requirements and the steps required to ensure that facilitate linking them to see how the platform and the readiness of banks to it."

He explained
that the "platform built represents a multi - currency payment platform provides clearing services and settlement currencies Arab and international currencies in which the eligibility requirements are available, for clearing and settlement of financial transactions intra - Arab as well as financial transactions between the Arab countries and trading partners presidents of Arab countries."


He continued: "The platform also aims to enable financial and banking institutions in the Arab region, including central and commercial banks, to send and receive inter-payments in all parts of the Arab region and outside in a safe and reliable manner at an appropriate cost and high efficiency, in addition to that the Beni platform provides the participants with payment solutions Hadith conforms to international standards, principles and international compliance requirements. "

Showed
that, "In the economic and financial integration opportunities in the Arab region , it is where it effectively contributes to support investment ties with Arab countries in various continents trading
partners. It will be the platform available to all banks that meet the criteria and conditions for participation, and in the forefront of standards and procedures Compliance aspects. "






http://economy-news.net/content.php?id=20996



THE ARAB MONETARY FUND CONTINUES TO HOLD INTERACTIVE WORKSHOPS "REMOTELY" WITH ARAB BANKS TO JOIN THE "BANI" ARAB PAYMENTS PLATFORM. A SEMINAR ON INFORMATION PROTECTION AND SECURITY IN THE "BANI" PAYMENTS PLATFORM, WITH A WIDE PARTICIPATION OF ARAB AND INTERNATIONAL BANKS
2020-08-13





THE ARAB MONETARY FUND ORGANIZES THE TWELFTH "REMOTE" WORKSHOP TO PLACE BANKS ON THE "BENI" PLATFORM Logo-ar










The Arab Monetary Fund continues to hold meetings and workshops directed to banks operating in the Arab countries, as part of the launch of the "Bani" platform for Arab payments of the Regional Corporation for Clearing and Settlement of Arab Payments owned by the FundIn this context, the Arab Monetary Fund is organizing today, Thursday, August 13th, the eleventh “remote” workshop to join banks (the fifteenth in a series of communication workshops with banks), in which senior officials from more than 120 banks operating in The Arab region and beyond, which showed interest in joining the platform in the early stages of its launchThe workshop comes after the announcement made last week of the launch of settlement operations in the UAE dirham.



The workshop represents a panel discussion on the data protection and privacy policy in the "Bani" platform, as it reviews the information security capabilities of the platform. This includes dialogue about the types and scope of information collected on the platform and the purposes of its use, and the controls, standards and procedures used to protect it, in line with the best international standards for protecting information security.



This workshop, which is directed to all banks operating in the Arab region, is the eleventh station in a series of focused workshops, dealing with several strategic topics, organized over several weeks in a digital form, remotely, given the current situationThe holding of this workshop comes within the framework of the keenness of those in charge of the "Bani" Arab Payments platform to comply with the international standards issued by the International Committee for Payment and Settlement Systems ( CPMI ) and the International Organization of Financial Markets Authorities ( IOSCO ) in terms of protecting the security of payment and settlement transactions. The workshop also reflects the increasing concern of supervisory authorities and banks with the importance and necessity of protecting payment and settlement systems with the increasing risks of global cyber threats.



It should be noted that the "Bani" platform represents a multi-currency payment platform that provides clearing and settlement services in Arab and international currencies that meet eligibility requirements for clearing and settling inter-Arab financial transactions, as well as financial transactions between Arab countries and the main trading partners of Arab countries. 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 Bani platform offers participants 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, foremost among which are the standards and procedures for compliance aspects.



On this occasion, His Excellency the Director General, Chairman of the Board of Directors of the Arab Monetary Fund, Dr. Abdulrahman bin Abdullah Al-Hamidi expressed the great importance of the topic of the workshop, as ensuring the protection of data and information security is a very important focus. Efficiency and safety of the platform operations. He also expressed his happiness for the continuation of the workshops to strengthen the partnership with banks, financial and banking institutions. His Excellency also renewed his sincere appreciation and gratitude to the Excellencies the governors of central banks and Arab monetary institutions for their support for the Fund's efforts in launching the platform.






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