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THE ARAB MONETARY FUND HOLDS MORE INTERACTIVE WORKSHOPS WITH ARAB BANKS TO PARTICIPATE IN THE "BUNA" PLATFORM FOR ARAB PAYMENTS DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

THE ARAB MONETARY FUND HOLDS MORE INTERACTIVE WORKSHOPS WITH ARAB BANKS TO PARTICIPATE IN THE "BUNA" PLATFORM FOR ARAB PAYMENTS

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THE ARAB MONETARY FUND HOLDS MORE INTERACTIVE WORKSHOPS WITH ARAB BANKS TO PARTICIPATE IN THE "BUNA" PLATFORM FOR ARAB PAYMENTS Empty THE ARAB MONETARY FUND HOLDS MORE INTERACTIVE WORKSHOPS WITH ARAB BANKS TO PARTICIPATE IN THE "BUNA" PLATFORM FOR ARAB PAYMENTS

Post by claud39 on Fri Nov 20, 2020 10:08 am

THE ARAB MONETARY FUND HOLDS MORE INTERACTIVE WORKSHOPS WITH ARAB BANKS TO PARTICIPATE IN THE "BUNA" PLATFORM FOR ARAB PAYMENTS
 2020-11-19


THE ARAB MONETARY FUND HOLDS MORE INTERACTIVE WORKSHOPS WITH ARAB BANKS TO PARTICIPATE IN THE "BUNA" PLATFORM FOR ARAB PAYMENTS Logo-ar








A high-level panel discussion with the participation of experts and managers of the "Buna" platform
  About the latest developments and developments related to the platform's activity and business
Wide participation of Arab and international banks
 

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 “Bunaa” platform for Arab payments of the regional institution for clearing and settling Arab payments owned by the fund, as the fund intensifies its efforts in following up the procedures for joining currencies and linking central and commercial banks to the platform And informing all parties of the latest developments related to the activity of the "Buna" platform.

In this context, the Arab Monetary Fund is organizing today, Thursday, November 19, the fifteenth "remote" workshop to enroll banks (the twenty in a series of communication workshops with banks), in which senior officials from more than 200 banks operating in The Arab region and beyond, which showed interest to join the platform.  

The workshop constitutes an additional episode of the periodic dialogue sessions organized by the Fund and the "Buna" platform, digitally, remotely, in view of the current conditions, and during which it addresses several strategic topics of interest to all Arab and foreign banks operating in the region. The workshop consists of a high-level panel discussion and dialogue, during which a number of the management staff of the “Bunaa” payment platform will talk about the latest developments related to the activity of the “Bunaa” platform and the continuous expansion of its network of central and commercial banks that have recently joined the platform and those in the process of joining After completing all requirements for connecting systems and conducting tests. The speakers will also review the differential features of the operational and technical structure of the "Buna" platform, the advanced methods it adopts in the field of securing the smooth and secure flow of cross-border payments, in addition to the efforts made to provide information security and data privacy.
 

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, affirmed the continuation of the "Buna" Arab Payments platform in making all efforts to achieve the strategic objectives and goals for which it was established. His Excellency referred to the recent success of the "Bona" platform in launching settlement operations in the Egyptian pound, thanks to the fruitful cooperation between the Central Bank of Egypt and the Arab Monetary Fund, making the pound the second Arab settlement currency on the platform after the UAE dirham. His Excellency also highlighted the importance of the recent step taken by the Fund to adopt the latest methodologies to verify compliance with the "Bunaa" platform, thus enhancing the platform's ability to examine and audit transactions. His Excellency Dr. Abdul Rahman bin Abdullah Al Hamidi also expressed his happiness for the continuing holding of the workshops, and with the participation of an increasing number of banks and financial and banking institutions.
 

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 eligibility requirements for clearing and settling inter-Arab financial transactions, as well as financial transactions between Arab countries and the main commercial 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.



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