fbpx
Trading

Invest Bank launches multi-currency payment service via Buna platform

Invest Bank launches multi-currency payment service via Buna platform

By Leandra Monteiro

Today

  • Arab Monetary Fund
  • Arab Payments Platform
  • Buna

Sharjah-based Invest Bank announced the launch of a multi-currency payment service via the Buna platform as part of its commitment to providing means to improve customer experience. The step also aims to enhance its role in developing the regional cross-border payments sector.

Buna, The Arab Regional Payments Clearing and Settlement Organization, is a centralized cross-border payment system owned by the Arab Monetary Fund. The Buna platform is an integrated system that provides clearing and settlement services for payments in multiple currencies in the Arab region. The Settlement of payments is done instantly for transfers to beneficiary banks participating in the platform.

Ahmad Mohamed Abu Eideh, Chief Executive Officer of Invest Bank commented, “We are pleased to work with the Arab Monetary Fund on this initiative, as we at Invest Bank are always seeking to confirm our commitment to the United Arab Emirates by promoting such initiatives, which have a great role in stimulating economic and financial growth. in the Arab region. “

Mehdi Manaa, Chief Executive Officer of the Buna Arab Payments Platform added, “We are pleased to welcome Invest Bank in Buna’s network of participants. We look forward to continuing the Collaboration with Invest bank to develop innovative payment solutions for corporations and individuals based on Buna’s services to process fast and safe cross-border payments in multi-currencies. At this occasion, I would also like to thank the Central Bank of the United Arab Emirates for its sponsorship and continuous support to Buna. ”

Previous Article

Alviere closes financing from Silicon Valley Bank to fuel growth in Europe and Latin America

Read More

IBSi Daily News Analysis

P2P lending, Neobanks

June 24, 2022

Arab Monetary Fund

Alternative investments like P2P lending are attracting FinTechs

Read More

IBSi FinTech Journal

  • Most Trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage

Subscribe Now

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button
KQ Education Group