Under the Patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum - the inauguration of “ARPCSO” (Buna Payments) at the World Governments Summit 2024

Dubai, February 12, 2024: Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Buna (The Arab Regional Payments Clearing and Settlement Organization “ARPCSO”, owned by The Arab Monetary Fund “AMF”) was inaugurated during the World Governments Summit, hosted by the UAE. 

 

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance opened the ceremony which was attended by their excellencies senior officials from the UAE government, Governors of Central Banks from different countries, and senior leaders from the financial sector. Wishes were extended to Buna for a continued success in their mission to support economic development and financial integration in the Arab world and stronger ties with its key trade partners. 

During the session, H.E. Mohamed bin Hadi Al Hussaini, UAE Minister of State for Financial Affairs, welcomed the attendees and thanked the UAE leadership for their support. He stressed that hosting Buna reinforces the UAE’s central role as a catalyst for cooperation between the Arab nations and as a global hub for trade and investments in line with the UAE leadership’s directives.

Monitoring cross-border payment developments: a regional analysis of AMF member countries

This joint policy paper between the AMF and CPMI on “Monitoring cross-border payment developments: a regional analysis of AMF member countries” provides insights on the importance of cross-border payments for the region, evidenced by international remittances. It documents the status of payment system interoperability and extension, as well as legal, regulatory and supervisory aspects in the region at the launch of the cross-border payments programme.

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