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Arab Monetary Fund: The United Arab Emirates dirham is among the currencies that account for 90% of payments between Arab countries

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The Director General and Chairman of the Board of Directors of the Arab Monetary Fund, Dr. Abdul Rahman Al-Hamidi, revealed that 6 currencies account for 90% of payments between Arab countries, including the UAE dirham, the Saudi riyal, the la Egyptian pound, the Jordanian dinar, in addition to the US dollar and the euro.

Abdul Rahman Al-Humaidi said that “Bunni” is the first global regional platform to promote inter-Arab payments in the fields of Arab investment, trade and financial transfers, noting that “Bunni” aims to promote Arab integration by using arab coins. in the field of intercalated payments.

He explained that the platform is moving forward to achieve all the purposes for which it was established and that the governors of the central banks of the Arab countries wished to achieve through it, noting that “Buni” is in contact with Arab and international business partners. . , where an agreement was signed with the Indian side in light of the work to open new markets, such as African markets, where the African Payments System will soon be signed to join the platform.

integrated strategy
He explained that Bani has an integrated strategy to link Arab financial markets, noting that the recent accession of the financial payment system of the Hashemite Kingdom of Jordan to the platform enhances the activation of the use of the Jordanian dinar in inter-Arab financial transactions. .

The Buna platform constitutes an integrated system specialized in providing clearing and settlement services for payments in Arab and international currencies, and aims to enable financial and banking institutions in the Arab region and beyond, including central and commercial banks, to send and safely receive Payments throughout the Arab region and abroad Reliable, affordable and highly efficient.

Buna also provides participants with modern payment solutions that meet international standards and principles and international compliance requirements. Buna contributes to enhancing opportunities for economic and financial integration in the Arab region and supports investment linkages with trading partners on various continents.

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