June 30 , 2022
Abu Dhabi, 30 June 2022: The Arab Regional Payments Clearing and Settlement Organization (ARPCSO), which operates Buna, the cross-border and multi-currency payment published its annual report for the year 2021. The 2021 annual report marks the first year of Buna’s operations. It summarizes the different achievements realized during this eventful year and the progress made in realizing our mission to provide efficient payment solutions that empower Arab economies and promote regional integration.
Commenting on this occasion His Excellency Dr. Abdulrahman A. Al Hamidy, Director General Chairman of the Board of the Arab Monetary Fund, said: “This annual report represents another important milestone that confirms the solid foundation of Buna and reinforces its potential to support growth and development in the Arab region and beyond.”
Mehdi Manaa, Chief Executive Officer of ARPCSO said: “I am pleased to share with our community our annual report for 2021, documenting a first year of operations that has been full of achievements, and which open excellent perspectives for 2022 and the following years to come. We are committed to our mission and to continue meeting the expectation of our participants. I also take this opportunity to thank the Arab Central Banks and their esteemed Governors for their continuous support and the Arab Monetary Fund (AMF) and His Excellency Dr. Abdulrahman A. Al Hamidy, Director General Chairman of the Board of the AMF, for having given to Buna the basis for its success.”
Buna, is a cross-border payment system aiming to enable financial institutions and central banks in the Arab region and beyond to send and receive payments in local currencies as well as key international currencies in a safe, cost-effective, risk-controlled, and transparent environment. Buna offers participants modern payment solutions that comply with international standards and compliance requirements. Buna contributes to exploring and strengthening opportunities for economic and financial integration in the Arab region and supporting investment ties with the global partners. Buna welcomes the inclusion of all banks that meet the criteria and conditions for participation, primarily the standards and procedures of compliance aspects.
