Buna offers a wide range of products and services that cater to various current and potential needs of its participants and their end-users. Buna’s offering includes multi-currency cross-border interbank payments, commercial payments, consumer remittances, instant payments, trade finance solutions, securities settlement, and ATM/ POS processing service.
Credit transfers constitute the majority of intra-Arab payment volumes
Buna aims to facilitate business activities across the Arab region and beyond
Interbank payments, comprising a small portion of volumes but a large portion of cross-border payment values in the Arab region, will also be covered by Buna, in line with areas of focus of comparable systems
Despite a global drive to reduce remittance costs, Arab remittances market remains highly fragmented
Buna can play a central role in lowering costs and streamlining remittances services through either batch mode or even cost-efficient individual payments
Enables instant payments with end-to-end tracking and monitoring of payments and in line with best practices and messaging frameworks
Acts as a hub between the Arab region and key trade partners
Focus on fostering trade and financial integration with the world
Leverage major corridors to promote financial inclusion
Enables foreign exchange settlement of transactions (FX)
Links with other systems for the PvP settlement of foreign exchange transactions with one of the currencies
Enables the real time settlement of the payment leg to securities and debt instruments
Reduces or even eliminates the principal risk in the settlement of such products
Centralized platform
Guarantees the payment to the beneficiary by obligating the payment once all conditions are met
Connect regional and global networks to clear and settle card payments.
