The Arab Monetary Fund (AMF) is pleased to announce its partnership with
Swift at the occasion of the Buna’s 14 th Online Market Participant User Group
(MPUG) Workshop that took place on Tuesday October 20, 2020, where
executives and experts from both organizations held discussions around the
latest industry trends taking place in the Arab region.
The workshop also covered the key strategic area of collaboration between Buna and Swift across
developing the Buna instant payment system and streamlining the Buna
participants KYC onboarding process as well as Buna’s adoption of
standardized Swift message formats and compatibility with SWIFT gpi.
Together, both Buna and Swift have joined forces and are currently building on
their strengths to better serve the financial community and to address the
challenges facing the Arab region.
Such partnership is in fact another testimony
when it comes to both organization commitment towards serving the wider
financial ecosystem and streamlining cross-border payments.
On this occasion, His Excellency Dr. Abdulrahman A. Al Hamidy, Director
General Chairman of the Board of Executive Directors of the Arab Monetary
Fund, emphasized on the strategic significance of such partnership for the
wider regional and global financial community.
He also expressed his appreciation for the increased traction and attention received from the regional
and global financial institutions when it comes to the series of Market
Participant User Group workshop. Finally, his Excellency reiterated his sincere
gratitude to the Governors of the Central Banks and Arab monetary institutions
for their continuous efforts and support in ensuring the success of Buna.
