The Arab Monetary Fund Announces its Partnership with Swift at the Occasion of Buna’s 14th Virtual Market Participant User Group Workshop: Shaping the Payments Landscape in the Arab Region

22-10-2020

The Arab Monetary Fund (AMF) is pleased to announce its partnership with Swift at the occasion of the Buna’s 14th Online Market Participant User Group (MPUG) Workshop that took place on Tuesday October 20, 2020, where executives and experts from both organizations held discussions around the latest industry trends taking place in the Arab region. The workshop also covered the key strategic area of collaboration between Buna and Swift across developing the Buna instant payment system and streamlining the Buna participants KYC onboarding process as well as Buna’s adoption of standardized Swift message formats and compatibility with SWIFT gpi.

Together, both Buna and Swift have joined forces and are currently building on their strengths to better serve the financial community and to address the challenges facing the Arab region. Such partnership is in fact another testimony when it comes to both organization commitment towards serving the wider financial ecosystem and streamlining cross-border payments.

On this occasion, His Excellency Dr. Abdulrahman A. Al Hamidy, Director General Chairman of the Board of Executive Directors of the Arab Monetary Fund, emphasized on the strategic significance of such partnership for the wider regional and global financial community. He also expressed his appreciation for the increased traction and attention received from the regional and global financial institutions when it comes to the series of Market Participant User Group workshop. Finally, his Excellency reiterated his sincere gratitude to the Governors of the Central Banks and Arab monetary institutions for their continuous efforts and support in ensuring the success of Buna.

 

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