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The Arab Monetary Fund has signed a cooperation agreement with the Global Bank “GB Morgan”, whereby the bank will provide settlement of payments in US dollars through the “Bunaa” Arab Payments platform, affiliated to the Regional Corporation for Arab Payments Clearing and Settlement owned by the Fund.
According to a publication of the Arab Monetary Fund, followed by Al-Eqtisad News, the inclusion of the US dollar as a settlement currency on the “Bunaa” platform for Arab payments in the list of settlement currencies listed on the platform, in cooperation with the bank, represents an additional achievement in Bana’s journey to be the payment platform. selected in the various Arab markets in the region.
” We will strengthen cooperation, the value provided by the platform” built “and the availability of advanced services for the clearing and settlement of payments, thereby contributing to support the development of trade opportunities and investment inter – Arab and linking with the Co – trading partners of the Arab countries.”
He noted This cooperation “provides added value to all eligible banks operating in the Arab countries and abroad to participate in the” Buna “platform. For Arab payments, because the platform provides these banks with the ability to make transfers in US dollars in a safe, reliable and efficient manner.
It should be noted that it was previously announced that settlement of payments in Iraqi dinar, Emirati dirham, Saudi riyal and Egyptian pound was provided through the “Buna”
platform for Arab payments.
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