Bank of Bahrain and Kuwait joins BUNA for rapid and secure payment solutions

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Bank of Bahrain and Kuwait (BBK), Bahrain’s leading retail and commercial bank, has successfully joined BUNA, the Arab payment system operated by Arab Regional Payments Clearing and Settlement Organisation ‘ARPCSO’, a subsidiary of the Arab Monetary Fund (AMF), having met all the criteria and conditions for joining BUNA and international compliance standards.

BBK’s customers will be able to securely send and receive cross-border multicurrency payments in a manner that is both cost-effective and transparent.

BUNA, as the first regional system dedicated to offering clearing and settlement services for payments in various currencies across the Arab region, delivers contemporary payment solutions aligned with international standards, principles, and compliance requirements.

The system is designed to enhance opportunities for economic and financial integration in the region, while also bolstering investment relations with trading partners.

This initiative is part of BBK’s commitment to offering cutting-edge solutions that enhance the satisfaction of its valued customers, as the bank consistently invests in establishing unique partnerships and leveraging modern technologies to uphold the highest standards in digital payment operations. By staying abreast of the latest global developments, BBK aims to provide customers with instant, seamless, secure, and cost-effective digital payment experiences, meeting all their financial needs and ensuring their satisfaction.

Mona Mustafa Alsayed, assistant general manager-operations at BBK BUNA advisory board member, commented: “We take pride in our collaboration with BUNA, aligning with our bank’s digital transformation initiatives and commitment to delivering advanced banking payment solutions to our esteemed customers in accordance with international standards.

“This partnership reflects our dedication to integration and the advancement of payment operations management in the region.

By adopting the latest and most secure technologies, we demonstrate BBK’s commitment to attracting top-tier products and services for our customers, facilitating their efficient goal attainment, and ensuring we stay abreast of the swiftly evolving digital environment.”

“Our collaboration with BUNA highlights our dedication to fostering economic and financial integration in the Arab world. This partnership will streamline cross-border payments in both Arab and international currencies, playing a pivotal role in the growth and development of the regional economy.

Moreover, it will empower our corporate customers to expand their businesses and explore new markets. We are enthusiastic about embarking on this journey with BUNA and eagerly anticipate the myriad opportunities that this partnership will unlock,” she added.