Buna holds its 43rd workshop to demonstrate the relevance of sustainability and ESG policies for FMIs and how Buna responds to these challenges

Abu Dhabi, August 10, 2023: Buna (the cross-border payment system operated by Arab Regional Payments Clearing and Settlement Organization “ARPCSO”, owned by The Arab Monetary Fund “AMF”), will hold its 43rd workshop today, on Thursday August 10th, 2023. On the path paving the way to the COP28, hosted by the United Arab Emirates, the workshop will demonstrate the relevance of sustainability and ESG policies for Financial Market Infrastructures (FMIs) and how Buna responds to these challenges. The workshop will also address the criticality of business continuity in Financial Market Infrastructures and discuss some of the challenges and the strategies in place set to mitigate potential risks in Buna.

As the global financial landscape evolves, Buna recognizes its role in advancing environmental and sustainability stewardship. Buna's newly established sustainability policy reinforces its commitment to building on that transformative journey. The workshop will explore how appropriate environmental, social, and governance policies can encourage sustainable growth and innovation in payment systems to reduce environmental impact, promote financial inclusion, and set new standards for green financial market infrastructures. The workshop will also address the principles put in place to ensure a robust business continuity framework that enhances the stability, efficiency, and integrity of financial markets. It will also discuss Buna’s readiness to ensure the efficiency of its operational system.

The workshop will be attended by over 200 senior officials representing central banks and a wide spectrum of institutions from the financial, banking and payment sectors of the region and other international markets. Experts from the BIS Committee on Payments and Market Infrastructures and the World Bank are also participating.

On this occasion, Mehdi Manaa, Chief Executive Officer of Buna said: “Buna’s business continuity plan is a commitment to maintaining service even in the face of adversity. It supports our dedication to ensuring that every cross-border payment transaction can be executed with confidence.”

Mehdi added: “Our approved ESG policy is aiming at enabling positive change across the cross-border payments landscape. It reflects our belief that growth can be inclusive and innovation, sustainable.”