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.
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