Banking & Finance
Emirati Dirham included in Buna payment platform

The Emirati Dirham (AED) has been included in the soon to be launched Buna, a multi-currency payment platform affiliated with the Arab Monetary Fund.
The Emirati Dirham’s inclusion follows that of the Jordanian Dinar and the Saudi Riyal, along with the US Dollar and Euro among other initial currencies to be included on the payment platform.
The platform allows for clearance and settlements of cross-border payments in eligible Arab and international currencies across the Arab region and beyond, with links to major trade partners.
It also enhances compliance screening capabilities, in line with industry standards and in compliance with international sanctions and Anti-Money Laundering and Countering Financing of Terrorism, AML/CFT, requirements, as well as all relevant international standards and requirements. Additionally, the platform applies all currency-specific sanctions required by the relevant authorities of the potential currencies. Commercial banks who meet participation eligibility criteria, which include rigorous compliance requirements, will be able to participate in the platform.
-
Automotive2 months ago
South Korea Plans to Support Auto Sector with US$2B Following US Tariffs
-
News2 months ago
Oman Oil Prices Witness Drop Amid Shifting Global Trade Dynamics
-
News2 months ago
Aligning HR Strategies with Oman Vision 2040: A Roadmap for Organisational Growth – OER Business Summit 2025
-
OER Magazines1 month ago
OER, April 25
-
Alamaliktistaad Magazines1 month ago
Al-Iktisaad, April 25
-
Renewables2 weeks ago
Jindal Renewables and OQ Alternative Energy Sign Joint Development Agreement to Advance Integrated Renewable Power Projects in Oman
-
Banking & Finance2 months ago
Bank Nizwa Signs MoU with Ministry of Endowments and Religious Affairs to Enhance Endowment Management & Islamic Finance Frameworks
-
Banking & Finance2 months ago
Sohar International Bank SAOG Announces Intention to Merge with Ahli Bank SAOG