The Arab Monetary Fund (AMF) announces a Memorandum of Understanding with the African Export-Import Bank to support the expansion of economic and financial ties between the Arab region and Africa

This MoU reinforces Buna’s role as a bridge and a driver for growth of trade and investments between the Arab countries and Africa

Abu Dhabi 21 April 2022: The Arab Monetary Fund (AMF) and the African Export-Import Bank (Afreximbank) announced today the signing of a Memorandum of Understanding (MoU) that sets the foundation for cooperation and interoperability between Buna, the cross-border and multi-currency payment system owned by the AMF, and the Pan-African Payment and Settlement System (PAPSS), owned by Afreximbank.  

Arab Monetary Fund Releases The Sixteenth Edition of the Arab Economic Outlook Report Including Macroeconomic Forecasts for Arab Economies for 2022 and 2023

Arab economies are expected to grow by 5.0 percent in 2022, supported by the increase in oil production and its prices in international markets and the continuation of stimulus packages to support economic recovery

In line with its continuous efforts to support the decision-making process in Arab countries, the Arab Monetary Fund (AMF) has released the Sixteenth Edition of the Arab Economic Outlook Report, including macroeconomic forecasts for Arab economies for 2022 and 2023.

The Arab Monetary Fund (AMF) holds a virtual workshop to elaborate on the start of the euro operations in Buna and share recent updates on Buna’s Instant Payment and interoperability plans with PAPSS

The workshop is hosting high-level speakers from the European Central Bank, the Central bank of Egypt, Standard Chartered, and PAPSS

More than 200 senior officials will attend the workshop, representing central banks and a wide spectrum of regional and global financial institutions

Abu Dhabi, 14 April 2022: The Arab Monetary Fund (AMF) holds today, Thursday, April 14, 2022, a workshop to elaborate on Buna’s (the cross-border payment system owned by the AMF) preparations to start the provision of cross-border payments services in euro.  

At the occasion of announcing the imminent start of the euro operations in Buna, the workshop will host a guest speaker from Standard Chartered Bank to talk about their role as the settlement bank for the euro in Buna and detail the process of executing payments in this international currency through Buna. Additionally, a high-level representative of the European Central Bank will share his views on the value that Buna brings to the Arab region, by enabling a seamless, safe, and efficient usage of the euro in cross-border payments.

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