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.”

Abu Dhabi, 16 June 2022: The Arab Monetary Fund (AMF) holds today, Thursday, June 16, 2022, a workshop to share the views of the participant banks that are the most active in using Buna (the cross-border payment system owned by the AMF) for their cross-border payments.

In a context where Buna is witnessing not only an increase of the number of participants, but also an increase of the number of currencies each participant uses, as well as a general increase of volumes and values of settled transactions, the workshop will gather high-level guest speakers representing First Abu Dhabi Bank (FAB), Bank Muscat, and Bank of Africa. to They will share with the audience their concrete experience and practical knowledge resulting from using Buna’s cross-border and multicurrency payment services.

In line with its continuous efforts to support the decision-making process in the Arab countries, the Arab Monetary Fund (AMF) has released a study titled " Public Debt in The Arab World: Asymmetric Effects on Economic Growth".