Jordanian dinar fourth currency to join Buna Arab payments platform

Jordanian dinar fourth currency to join Buna Arab payments platform
Jordan’s dinar joins the Saudi riyal, Emirati dirham, US dollar and euro in the Buna payments system. (Reuters)
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Updated 06 July 2021

Jordanian dinar fourth currency to join Buna Arab payments platform

Jordanian dinar fourth currency to join Buna Arab payments platform
  • Central Bank of Jordan, Arab Monetary Fund complete inclusion
  • Buna is centralized cross-border payments system

RIYADH: The Central Bank of Jordan and the Arab Monetary Fund have completed the inclusion of the Jordanian dinar as a settlement currency in the Buna platform for Arab payments, Asharq reported.

Jordan’s dinar is the fourth currency to be included in the payment system, joining the Emirati dirham, Saudi riyal, US dollar and euro.

Buna is a centralized cross-border payment system affiliated with the Regional Institution for Clearing and Settlement of Arab Payments, owned by the AMF.

The platform enables regional financial institutions to send and receive cross-border payments across the Arab region and beyond in Arab currencies, as well as key international currencies, in an efficient, cost-effective, risk-controlled, and transparent environment.