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Established in 2006 as a Community of Reality

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The launch of the “Buna” platform for intra-Arab payments

chouchou
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The launch of the “Buna” platform for intra-Arab payments Empty The launch of the “Buna” platform for intra-Arab payments

Post by chouchou on Mon 04 Jan 2021, 10:35 am

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Editing date: 01/04/2021 12:56 • 82 read times
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The Central Bank of Iraq announced, on Monday, the launch of the ” Buna ” platform for inter-Arab payments.

The bank said in a statement. It is “the actual launch and operation of the Buna platform for inter-Arab payments, which is a platform that provides real-time clearing and settlement services for cross-border financial transfers between Arab countries and in Arab and international currencies.”

He added, “The first movement was carried out through banks between the UAE and the Arab Republic of Egypt, in the currency of the UAE dirham.”

The bank continued, “The Central Bank of Iraq and a number of local banks have already signed an agreement and completed the technical requirements to participate in the project in coordination with the Arab Monetary Fund, and work is underway to adopt the Iraqi dinar in the system for the next stage.”

He pointed out, “The participating banks in the Arab countries will be able to send and receive payments between them in a safe and reliable manner, while this platform will help reduce recourse to global centers of correspondent banks in clearing and settling Arab payments, which will contribute to reducing the time and costs associated with banks and their customers.” “.


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notazbad2000
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The launch of the “Buna” platform for intra-Arab payments Empty Re: The launch of the “Buna” platform for intra-Arab payments

Post by notazbad2000 on Mon 04 Jan 2021, 11:28 am

Is this photo of the Dinar an old stock photo or a recent on?  There are one Dinar notes in it!


TAZ


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TAZ

The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy.
Martin Luther King Jr., Strength to Love, 1963

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Neno
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The launch of the “Buna” platform for intra-Arab payments Empty Re: The launch of the “Buna” platform for intra-Arab payments

Post by Neno on Tue 05 Jan 2021, 9:24 pm

Probably old stock but interesting eye you got there. 🤠

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