News

Buna holds its 36th virtual workshop to share latest achievements and new milestones

The workshop will host leading banks from United Arab Emirates and Kingdom of Saudi Arabia that will share their experiences of Buna

More than 200 senior officials will attend the workshop, representing central banks and a wide spectrum of regional and global financial institutions

Abu Dhabi, 15th September 2022: Buna (the cross-border payment system operated by Arab Regional Payments Clearing and Settlement Organization “ARPCSO”, owned by The Arab Monetary Fund “AMF”), holds today a workshop to share latest achievements and new milestones with its large community.

The agenda of the workshop comprises a panel of senior-level speakers from Abu Dhabi Commercial Bank (ADCB) and Arab National Bank (ANB) who will share their practical experiences in utilizing Buna system. The workshop will also cover different other topics to update the Buna community on the progress achieved on key technological and regulatory matters as well as the evolution of the participation and payments activity in Buna.

Arab Monetary Fund releases a study on “Towards a Circular Economy in The Arab Region: Development of Transformation Measurement Index”

The study aims to build an index to measure the circular economy (CE).

Globally, a circular economy (CE) is being promoted as a policy to achieve economic, environmental, and social sustainability. A significant reason for this is the increasing recognition of CE indices as effective tools in preventing resource waste and reducing negative environmental impacts. The aim of this study, therefore, is to establish a regional index based on CE indicators that can be used to measure countries' transition toward circular economies implementation.

Buna and Standard Chartered celebrate euro real-time payments in Buna

The inclusion of the Euro in Buna will strengthen economic ties between the Arab World and Europe, as well as other international trade partners  

Buna (the payment system operated by Arab Regional Payments Clearing and Settlement Organization “ARPCSO”, owned by The Arab Monetary Fund “AMF”) and Standard Chartered held a ceremony today in the AMF premises to announce the live operation of euro cross-border payments in Buna.

The service is now activated by multiple participant banks from various Arab countries, with more participation expected in the upcoming weeks to benefit from the real-time settlement feature of euro payments taking place in Buna across borders in compliance with global best practices and international standards.

The Arab Monetary Fund released a study on: “An Analysis of Symmetric and Asymmetric Information in the Volatility Structure of Real Exchange Rates”

As a result of the symmetric analysis, the findings indicate that volatility structures of the real exchange rate markets' return under study are symmetrically informative.

An understanding of the volatility structure of foreign exchange rates is fundamental to assessing investment risks in the forex market. This study, therefore, analyzes the symmetric and asymmetric information in the volatility structure of selected Arab exchange rate markets.

The study applied the EGARCH model for analyzing the volatility structure of selected currencies using the daily data of rate of return of real exchange rates over the period from January 3, 2017, to June 2, 2022. These currencies are the Saudi Riyal, Kuwait Dinar, Bahrain Dinar, Egyptian Pound, Algerian Dinar, Tunisian Dinar, and Moroccan Dirham.

The Arab Monetary Fund Releases The Seventeenth Edition of the Arab Economic Outlook Report Including Macroeconomic Forecasts for Arab Economies for 2022 and 2023

  • According to the Arab Monetary Fund, the expected economic growth rate for the Arab countries will rise to 5.4 percent in 2022 due to rising oil prices, the increase in production in Arab oil-exporting countries, and the continuation of reforms that promote growth.

 

In line with its continuous efforts to support the decision-making process in Arab countries, the Arab Monetary Fund (AMF) has released the Seventeenth Edition of the Arab Economic Outlook Report, including growth and inflation forecasts for Arab economies for 2022 and 2023.

The report indicated that the global economy is experiencing challenges related to the global supply chains and high commodity prices, which raise concerns about global food security. As a result, international institutions have reduced their forecasts for global economic growth issued in January 2022.

Buna holds its 35th virtual workshop to share cross-functional updates related to Technology, Operations, and Compliance

The workshop will shed light on key capabilities and live experiences that are of interest to Buna’s banking community  

More than 200 senior officials will attend the workshop, representing central banks and a wide spectrum of regional and global financial institutions

Abu Dhabi, 11th August 2022: Buna, the cross-border payment system owned by the AMF, holds today a workshop to shed light on several key capabilities and live experiences that are of interest to Buna’s banking community, namely an overview on its Application Programming Interface (API), Buna’s plans for extending its operating window, and various compliance aspects including sharing live experiences and findings.

The workshop will host more than 200 senior officials representing central banks, along with various institutions from the financial, banking, and payment sectors in the region and beyond.

Arab Monetary Fund (AMF) extends its engagement to promote the scale of responsible digital payments across its member countries

  The Arab Monetary Fund, a regional financial organization, joins the United Nations-Better Than Cash Alliance to accelerate financial inclusion in the region

 

The Arab Monetary Fund (AMF) will increase the use of responsible digital payments in its programs and operations to boost financial inclusion, transparency and efficiency. The AMF will continue to prioritize youth, women and small businesses in its efforts on payment digitization, helping advance the Sustainable Development Goals.

 

H.E. Dr. Abdulrahman A. Al Hamidy, Director General Chairman of the Board of the Arab Monetary Fund, said: “Making responsible payment digitization a reality across our member countries will help bring many more citizens, particularly youth, women and small businesses, in the financial system, in a way that serves their needs. By doing that, Arab nations will foster sustainable growth, create employment opportunities, reduce inequality and maintain financial stability”.  

Buna publishes its first annual report

The 2021 annual report marks the first year of operations

Abu Dhabi, 30 June 2022: The Arab Regional Payments Clearing and Settlement Organization (ARPCSO), which operates Buna, the cross-border and multi-currency payment published its annual report for the year 2021. The 2021 annual report marks the first year of Buna’s operations. It summarizes the different achievements realized during this eventful year and the progress made in realizing our mission to provide efficient payment solutions that empower Arab economies and promote regional integration.       

 Commenting on this occasion His Excellency Dr. Abdulrahman A. Al Hamidy, Director General Chairman of the Board of the Arab Monetary Fund, said: “This annual report represents another important milestone that confirms the solid foundation of Buna and reinforces its potential to support growth and development in the Arab region and beyond.”

The Arab Monetary Fund (AMF) holds a virtual workshop to share the experience of Buna’s most active participants

The workshop is hosting high-level speakers from First Abu Dhabi Bank (FAB), Bank Muscat, and Bank of Africa

More than 200 senior officials will attend the workshop, representing central banks and a wide spectrum of regional and global financial institutions

Abu Dhabi, 16 June 2022: The Arab Monetary Fund (AMF) holds today, Thursday, June 16, 2022, a workshop to share the views of the participant banks that are the most active in using Buna (the cross-border payment system owned by the AMF) for their cross-border payments.

In a context where Buna is witnessing not only an increase of the number of participants, but also an increase of the number of currencies each participant uses, as well as a general increase of volumes and values of settled transactions, the workshop will gather high-level guest speakers representing First Abu Dhabi Bank (FAB), Bank Muscat, and Bank of Africa. to They will share with the audience their concrete experience and practical knowledge resulting from using Buna’s cross-border and multicurrency payment services.

Arab Monetary Fund Releases a Study on “Public Debt in The Arab World: Asymmetric Effects on Economic Growth”

The Study refers to the Asymmetric relationship between public debt and economic growth in the short and long run and confirms the change in the size and the direction of the relationship over time

In line with its continuous efforts to support the decision-making process in the Arab countries, the Arab Monetary Fund (AMF) has released a study titled " Public Debt in The Arab World: Asymmetric Effects on Economic Growth".