Sheikh Maktoum launches Arab payment platform

Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Prime Minister of the UAE, Minister of Finance and Deputy Ruler of Dubai, announced on Monday the launch of the Buna Payments Platform to facilitate the clearing and settling of Arab payments.

Taking to social media platform X, Sheikh Maktoum said the innovative platform delivers advanced payment solutions that meet the highest global standards of compliance.

He wrote that the platform underscores the critical role of payment systems in bolstering the Arab economy's infrastructure and is pivotal in promoting financial inclusion. Additionally, it enhances efforts towards economic and financial integration within the Arab region.

The UAE continues to support efforts to consolidate financial infrastructure systems across the Arab world, driving comprehensive development and shaping the future of the region, he added.

We launched today the Buna Payments Platform to facilitate the clearing and settling of Arab payments. This innovative platform delivers advanced payment solutions that meet the highest global standards of compliance.

The platform underscores the critical role of payment systems… pic.twitter.com/LP3BardfuP

— Maktoum Bin Mohammed (@MaktoumMohammed) February 12, 2024