Buna Welcomes CPMI’s Publication on Harmonized ISO 20022 Data Requirements for Cross-Border Payments

Buna has been natively ISO 20022 compliant and welcomes this additional level of harmonization that will support its interlinking initiatives and smoother cross-border payment 

Abu Dhabi, October 27, 2023: Buna, the cross-border payment system operated by Arab Regional Payments Clearing and Settlement Organization “ARPCSO”, which is owned by the Arab Monetary Fund, welcomes the recent publication of the report by the Committee on Payments and Market Infrastructures (CPMI) regarding harmonized ISO 20022 data requirements for cross-border payments that will facilitate global collaboration to enhance cross-border payments. 

The Arab Monetary Fund publishes an economic study about: “Fiscal sustainability: An empirical analysis for Arab countries”

The fiscal sustainability of Arab countries has been significantly challenged by the COVID-19 pandemic.

A uni-directional causal relationship exists where government revenue leads to expenditure, affirming the revenue–spend hypothesis.

The Arab Monetary Fund published a study on "Fiscal sustainability in Arab countries". The study aims to shed light on the relationship between government revenue and government expenditure. The study analyses fiscal sustainability and the causal link between government revenue and expenditure for the period from 1990 to 2021 in a sample of Arab countries.

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