The Arab Monetary Fund (AMF) signs a Memorandum of Understanding with The Jordan Payments and Clearing Company (JoPACC) to facilitate instant payments between Jordan and the rest of the world
Buna is progressing with its plans to be a strategic hub that links national instant payment solutions from the Arab region and beyond
The MoU targets to identify innovative payment solutions that lead to interoperability between Buna IPS and JOPACC CliQ
Abu Dhabi 17 March 2022: In a ceremony hosted by the Arab Monetary Fund at its headquarter in Abu Dhabi, UAE, Ms. Maha Bahou, CEO of The Jordan Payments and Clearing Company (JoPACC), a payment system operator owned by the Central Bank of Jordan and all commercial banks in Jordan, and Mr. Mehdi Manaa, CEO of Buna, the cross-border and multi-currency payment system owned by the Arab Monetary Fund (AMF), signed today a Memorandum of Understanding (MoU) putting in place a framework of cooperation between Buna and JoPACC.
Under the terms of this MoU, Buna and JoPACC target to achieve interoperability between their instant payment services, Buna “IPS” and JoPACC’s "CliQ”, by providing innovative solutions that allow their participants to send and receive cross-border payments instantly in accordance with the highest compliance standards.
The connectivity between Buna’s IPS and JoPACC, emphasizes Buna's role as a strategic hub that links national instant payment solutions and creates another payment rail targeting to support various use cases, including digital remittances and e-commerce.