THE ARAB MONETARY FUND ANNOUNCES THE SIGNING OF A COOPERATION AGREEMENT WITH "GB MORGAN" BANK TO LAUNCH SETTLEMENT SERVICES IN US DOLLARS THROUGH THE "BUNA" PLATFORM FOR ARAB PAYMENTS

by **claud39** Tue Jan 26, 2021 6:24 pm

THE ARAB MONETARY FUND ANNOUNCES THE SIGNING OF A COOPERATION AGREEMENT WITH "GB MORGAN" BANK TO LAUNCH SETTLEMENT SERVICES IN US DOLLARS THROUGH THE "BUNA" PLATFORM FOR ARAB PAYMENTS

2021-01-26

The Arab Monetary Fund announced today that it has signed a cooperation agreement with the international American bank, "GB Morgan", under which the "GB Morgan" bank will provide settlement of payments in US dollars through the "Buna" Arab Payments platform, affiliated to the Regional Corporation for Clearing and Settling Arab Payments. By the fund.

The inclusion of the US dollar as a settlement currency in the "Buna" platform for Arab payments in the list of settlement currencies listed on this platform, in cooperation with "GB Morgan" Bank, represents an additional achievement in the path of "Buna" to be the payment platform of choice in the various markets of the Arab region. This cooperation with JP Morgan will enhance the value provided by the Buna platform and the advanced services it provides for clearing and settling payments, thus contributing to supporting opportunities for developing intra-Arab trade and investments and linking with the main trading partners of Arab countries.

Likewise, this cooperation between the Arab Monetary Fund and the American Global Bank, "GB Morgan", would provide added value to all eligible banks operating in the Arab countries and abroad to participate in the "Bunaa" Arab Payments platform, because the platform provides these banks with the possibility of making transfers in US dollars. Safe, reliable and highly efficient. This embodies the vision of the “Bunaa” Arab Payments platform, as an integrated payment system specialized in providing cross-border settlement services, to enable and assist financial and banking institutions to send and receive intermittent payments in real time, in line with relevant international standards, principles and compliance requirements.

On this occasion, the Arab Monetary Fund expresses its confidence in the services provided by GBMorgan, which will contribute to enhancing the framework and scope of work of the “Bunaa” Arab Payments platform and supporting its success story. It should be noted that it was previously announced that settlement of payments in the currencies of the UAE dirham, Saudi riyal and Egyptian pound would be provided through the "Buna" Arab Payments 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%D8%B9%D9%84%D9%86-%D8%B9%D9%86-%D8%AA%D9%88%D9%82%D9%8A%D8%B9%D9%87-%D8%A7%D8%AA%D9%81%D8%A7%D9%82%D9%8A%D8%A9-%D8%AA%D8%B9%D8%A7%D9%88%D9%86-%D9%85%D8%B9-%D8%A8%D9%86%D9%83-%D8%AC%D9%8A-%D8%A8%D9%8A-%D9%85%D9%88%D8%B1%D8%BA%D8%A7%D9%86-%D9%84%D8%A5%D8%B7%D9%84%D8%A7%D9%82-%D8%AE%D8%AF%D9%85%D8%A7%D8%AA-%D8%A7%D9%84%D8%AA%D8%B3%D9%88%D9%8A%D8%A9

by **claud39** Tue Jan 26, 2021 6:26 pm

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

01/25/2021

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[size=15]Economy News - Baghdad[/size]

[size=15]The International Development Bank announced that it has joined the Bani platform for clearing and settling Arab payments.[/size]

[size=15]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. "[/size]

[size=15]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 ".[/size]

[size=15]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. "[/size]

[size=18]https://economy-news.net/content.php?id=23811[/size]

https://www.dinardaily.net/t97803-the-international-development-bank-announces-its-joining-the-bani-platform

by **claud39** Tue Jan 26, 2021 6:35 pm

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 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.

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/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% 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

https://www.dinardaily.net/t97427-the-arab-monetary-fund-announces-the-full-operation-of-the-buna-platform-for-arab-payments

by **claud39** Tue Jan 26, 2021 6:37 pm

Bunna payments platform

Jan 10, 2021

THE ARAB MONETARY FUND ANNOUNCES THE SIGNING OF A COOPERATION AGREEMENT WITH "GB MORGAN" BANK TO LAUNCH SETTLEMENT SERVICES IN US DOLLARS THROUGH THE "BUNA" PLATFORM FOR ARAB PAYMENTS AAUvwnhxYAdnjhC9PsvUydmW2TMWO3WBXmm7vYCQRBAn=s48-c-k-c0xffffffff-no-rj-mo

Central Bank of Iraq

Central Bank of Iraq

The Central Bank of Iraq participates in the Bunaa Arab Payments platform, with the aim of working to expand the scope of electronic payments

https://www.dinardaily.net/t97521-iraq-participates-in-the-buna-platform-for-inter-arab-payments