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.

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