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Friday 10 May 2024


Friday 10 May 2024

Central Bank of the UAE and Bank Indonesia sign MoU to promote the use of local currencies for bilateral transactions

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BUNA (Arab Regional Payment System)

The Arab Regional Payment System (Buna) is a centralised multi-currency platform that enables financial institutions (including commercial and central banks) to send and receive cross-border payments across the Arab region and beyond, in Arab and key international currencies.

It was launched by the Arab Monetary Fund to provide clearing and settlement services in Arab and international currencies that meet the eligibility criteria for the clearing and settlement of inter-Arab financial transactions, as well as transactions between Arab countries and their main trading partners.

 

For further details, please refer to: 

 

The Arab Monetary Fund

 

Buna Payment Platform

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Last updated on: Thursday 28 July 2022

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