The Arab Monetary Fund to hold a Virtual Workshop showcasing Buna's abilities to be a key player in global payment

The workshop will be held on Thursday December 10, 2020


Abu Dhabi: The Arab Monetary Fund (AMF) will hold on Thursday December 10, 2020 a workshop dedicated to showcase the business and market proposition of Buna - the cross border payment system owned by the AMF - and the added value it brings to the regional and international payment industry, through its set of innovative solutions and secured centralized platform.  

The workshop will be attended by senior officials representing Arab and international central banks and a wide spectrum of institutions from the financial, banking and payment sector from the region and other international markets, looking to learn more on Buna’s strategy and plans to be a key player in the global payment sector.

During the workshop  high-level speakers from international organizations including the world bank, along with Buna executive team, will share their views on why and how Buna can support the growth of the payment industry in this part of the world, and the positive role it can play in-line with the G 20 roadmap to enhance cross-border payments across the globe.

At this occasion, Mehdi Manaa, Chief Executive Officer of Buna said: “Supported by the Arab Monetary Fund and the governors of the Arab central banks, Buna has a strong business model and a clear strategy in place. We will be offering competitive and innovative solutions that can position us among the major payment systems from around the globe.”

Mehdi added: “In the last few months, we managed to achieve key steps in our path to create a solid and sustainable platform that can make cross-border payments more efficient, faster, more transparent and more widely accessible by the different parties across the Arab region and beyond. We foresee our role as a driver to the cross-border payment business in the region and a contributor to the development of this sector, and we look to collaborate with all the industry stakeholders to unlock further opportunities for growth.”

Buna, is a cross-border payment system owned by the Arab Monetary Fund, aiming to enable financial institutions and central banks in the Arab region and beyond to send and receive payments in local currencies as well as key international currencies in a safe, cost- effective, risk-controlled and transparent environment. Buna offers participants modern payment solutions that comply with international standards, principles and international compliance requirements. Thanks to its cross-border payment system Buna contributes to exploring and strengthening opportunities for economic and financial integration in the Arab region and supporting investment ties with the global trading partners of Arab countries. Buna welcomes the inclusion of all banks that meet the criteria and conditions for participation, primarily the standards and procedures of compliance aspects.

Highlighting the key objectives of Buna and sharing the organization roadmap and tools to achieve these objectives, has been a key element in Buna ongoing series of workshops and continuous communication with the banking community in the region and beyond. The virtual event scheduled to take place on Thursday December 10, 2020 will be the 16th in the series of online sessions of the AMF Market Participant User Group (MPUG) Workshop.

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