Buna holds its 41st virtual workshop
The workshop will explore the status of Central Bank Digital Currencies (CBDCs) current initiatives and their outlook
The workshop will host high-level guest speakers from the Bank of International Settlement (BIS), Banque de France, Banca d’Italia and SWIFT, among others
Abu Dhabi, May 4th, 2023:Buna (the cross-border payment system operated by Arab Regional Payments Clearing and Settlement Organization “ARPCSO”, owned by The Arab Monetary Fund “AMF”), will hold, on Thursday May 4th, the 41st edition of its virtual workshops to explore the status of Central Bank Digital Currencies (CBDCs), current initiatives and their outlook.
Buna aims to bring the latest developments and advancements to this topic and promote innovation and progress in the financial sector. To achieve that, this workshop will host high-level guest speakers representing Bank of International Settlement (BIS), Banque de France, Banca d’Italia, SWIFT, and others, who will provide a comprehensive overview of the topic from practical and strategic perspectives. The objective will be to anticipate potential future developments relating to CBDCs and how the financial industry can prepare for the changing landscape.
The Arab Monetary Fund issues Its annual report for the year 2022
The Fund keeps delivering on the strategy it has adopted to be the closest partner to the Arab countries
The Fund granted three additional loans to Arab countries in 2022 totaling around 120 million Arab dinars, or about 478.5 million dollars, to support emergency funding needs and the implementation of economic and financial reforms
The Arab Monetary Fund (AMF) launched its 2022 annual activity report, which was approved by the Board of Governors of the Arab Monetary Fund after reviewing the Fund's efforts in providing financial and technical support to enhance economic and financial stability and achieve inclusive and sustainable growth in its member countries.
Arab Day for Financial Inclusion - April 25, 2023 Under the overarching theme: “Increasing Financial Inclusion to Support the Efforts to Address the Climate Change Repercussions”
The total issuance of green bonds and sukuk related to sustainable activities amounted to $5.5 billion in 2022 in the Arab countries
The percentage of adults in the Arab region accessing formal financial services is 48 percent for males, 31 percent for women, and 32 percent for low-income people
The issue of enhancing access to finance and financial services in the Arab countries is receiving growing attention from the Council of Arab Central Banks and Monetary Authorities’ Governors, in recognition of the potential and significant opportunities that can be achieved by increasing financial inclusion to support inclusive and sustainable economic development, address unemployment challenges and achieve equality. There is no doubt that enhancing financial inclusion plays an important role in supporting the efforts to face the climate change repercussions, by enabling financial sector customers to deal with risks associated with climate changes and enhancing their ability to recover from the climate change effects, which in turn contributes to inclusive and sustainable development, thus leading to soundness and resilience of the financial sector.
Buna Launches its Instant Payment Service (IPS)
The new IPS service, which is available 24/7/365, processes cross-border payments in a matter of seconds in multi-currency and in a cost-effective way.
Buna’s IPS benefits businesses through efficient cash management and cost reduction by leveraging a pricing model that incentivizes such use cases with very competitive fees.
Abu Dhabi, April 17, 2023: Buna (the cross-border payment system operated by Arab Regional Payments Clearing and Settlement Organization “ARPCSO”, owned by The Arab Monetary Fund “AMF”), announces the launch of its Instant Payment Service (IPS). This anticipated service is now live and ready to onboard participants seeking payments that are instant and available 24/7/365, in a cost-effective way.