December 28, 2020
Abu Dhabi, 28 December 2020
The Arab Monetary Fund (AMF) announced today that Buna (the regional cross-border payment system owned by the AMF) is currently in full operation and settling cross-borders payment transactions in multiple currencies.
This milestone comes as an accomplishment of Buna success to properly finalize the different key phases of its focused strategy and business plan to create the payment platform of choice across the Arab region and beyond. Beginning with the launch of its technical platform back in February 2020 and followed by building and growing its diversified network of participant banks and settlement currencies, this new step marks the completion of the phased go live approach of Buna.