Abu Dhabi: The Arab Monetary Fund announced today that the information management system of BUNA - the cross-border payment system it operates -is functioning as by the highest international standards of information security and data protection.
Buna has been accredited as holder of the international certificate ISO/IEC 27001:2013 as by the terms of the United Kingdom Accreditation Service (UKAS). The scope of the international recognition is applicable to all business information and related technology managed by “Buna”, to serve participants in the Arab region and beyond to facilitate cross-border payments.
Commenting on this additional success in Buna’s ongoing efforts to be the payment system of choice for central banks and financial institutions operating in the Arab region and beyond, Mehdi Manaa, Chief Executive Officer of Buna, said: “This international certificate and formal accreditation comes as testament of Buna’s ability to secure and protect its participants sensitive business information from risks of modification, disruption and destruction. This comes along with our focused strategy to provide innovative solutions in a safe and risk-controlled framework.”
“The protection of data and technology is critical to address the increasing security needs accompanying cross-border payments. Bringing together our participants through a secure and safe channel of investment and trading activities between financial institutions, represents one of Buna’s key objectives”, added Mehdi Manaa.
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Buna, the cross-border payment system owned by the Arab Monetary Fund, is a centralized clearing and settlement payment system aiming at enabling financial institutions and central banks in the Arab region and beyond to send and receive cross-border payments in local currencies as well as key international currencies in a safe, cost- effective, risk-controlled and transparent environment.
© Press Release 2020