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Arab Monetary Fund showcasing Buna’s abilities

Holds virtual workshop to enhance and support the growth of the global payment industry

Abu DhabiArab Monetary Fund, AMF, hold on Thursday, December 10, 2020, an online workshop titled “Buna compared to other payment systems from around the globe: What makes Buna a key player.”


Arab Monetary Fund

The workshop sessions focused on positioning Buna – the cross-border payment system owned by the AMF – against the current global landscape and future trends of payment systems, shedding light on Buna’s business model and the added value it brings to the regional and international payment industry.

The Arab Monetary Fundvirtuals event was attended by more than 200 senior officials representing Arab and international central banks and a wide spectrum of regional and international institutions from the financial, banking, and payment sectors.

The workshop agenda covered various key topics and trends related to the cross-border payment industry around the globe, including compliance practices and the G20 guidelines to enhance cross-border payments.

High-level speakers from international organisations and other experts from the banking and financial sector shared their views on the leading role that Buna is capable to play to unlock value and positively contribute to the growth of the payment industry at a regional and global level.

A spokesperson from the World Bank confirmed that the Buna platform represents a model that reflects the main directions of the G20 guidelines in the field of cross-border payments, highlighting the platform strong and clear commitment to the global compliance principles and the role Buna can play in promoting compliance standards across the Arab region.

At this occasion, Mehdi Manaa, Chief Executive Officer of Buna said: “We foresee Buna role not only as a driver to the cross-border payment business in the region but as a key contributor to the development of this sector at a global level. We are keen to deliver a new, agile and innovative business model capable to answer to the current and future needs of the wider financial and banking community, in a safe, cost-effective and efficient manner.”

“Buna solutions and services come in line with the G20 drawn roadmap for a reliable and transparent cross-border global payment services. We underline the continuous support we are receiving from the governors of the Arab central banks and the different global organisations, during our journey to build a centralised, solid and safe multicurrency payment system that complies with international standards and compliance requirements.” Added Mehdi.

Statements from the speakers and panellists at this workshop served as another unique opportunity to re-emphasise on the key aspects of Buna’s offering, and the highly secured and risk-controlled system that it puts in place.

Buna’s efforts to exercise high-level compliance standards and its focus on protecting the data and business information of its growing network of participants was highly recognised during the different interventions at the workshop.-WAM

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