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Economy News _ Baghdad

The Central Bank of Iraq participated, on Tuesday, in the meetings of the Board of Directors of the Arab Monetary Fund, and the Board of Directors of the Arab Trade Finance Program, separately.

A central bank statement received by Al-Eqtisad News stated that during the meeting with the member states of the Arab Monetary Fund’s board of directors, the bank discussed issues supporting joint Arab action, most notably the “Arab Payments and Clearing System“ built ”and its importance in facilitating inter-Arab payments and financial transfers.

The statement added that the meetings of the Board of Directors of the Arab Trade Finance Program included discussions on mechanisms to re-prioritize funding for the national agencies organizing the program and in a manner that helps mitigate the effects of the Corona pandemic on Arab trade.

 
 
Number of observations 81   Date of addendum 09/29/2020
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Al-Malouma / Baghdad ..
The Central Bank of Iraq participated separately in the meetings of the Board of Directors of the Arab Monetary Fund and the Board of Directors of the Arab Trade Finance Program.
A statement by the bank that received / the information / stated that “the bank discussed with the member states of the Arab Monetary Fund’s board of directors issues that support joint Arab action, most notably“ the Arab payments and clearing system “built” and its importance in facilitating inter-Arab payments and financial transfers.
The statement added, "The meetings of the Board of Directors of the Arab Trade Financing Program included discussions on mechanisms to re-prioritize funding for the national agencies organizing the program in a manner that helps mitigate the effects of the Corona pandemic on Arab trade." End / 25

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 September 29, 2020
He called for intensifying efforts ... The Central Bank participates in two Arab meetings

 



The Central Bank of Iraq participated separately in the meetings of the Board of Directors of the Arab Monetary Fund and the Board of Directors of the Arab Trade Financing Program.
Where the bank discussed with members of the Fund Board states of the Arab Monetary topics to support the joint Arab action , most notably the payments system of the Arab and clearing " structures "and its importance in facilitating payments and financial transfers of inter - Arab."
 
While the meetings of the Board of Directors of the Arab Trade Financing Program included discussions on mechanisms for re-arranging funding priorities for the national agencies organizing the program, in a manner that helps mitigate the effects of the Corona pandemic on Arab trade.
 
The Central Bank of Iraq
information Office 
2020/9/29
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The Iraqi Central Committee discusses the Arab payments and clearing system to suppor t cross-border transfers

The Iraqi Central Committee discusses the Arab payments and clearing system to support cross-border transfers
Central Bank of Iraq - Basra Branch
 29 September 2020 03:43 PM

Mubasher: The Central Bank of Iraq participated separately in the meetings of the Board of Directors of the Arab Monetary Fund and the Board of Directors of the Arab Trade Financing Program.

The bank discussed, according to a statement issued today, Tuesday, with the member states of the Arab Monetary Fund’s board of directors, issues that support joint Arab action, most notably the "Arab Payments and Clearing System" Buna "; and its importance in facilitating inter-Arab payments and financial transfers.

The Iraqi Central Bank explained that the meetings of the Board of Directors of the Arab Trade Financing Program included discussions on mechanisms to re-prioritize funding for the national agencies organizing the program, and in a manner that helps mitigate the effects of the Corona pandemic on Arab trade.

In February 2020, the Arab Monetary Fund revealed the launch of the "Bani" payments platform , in cooperation with central and commercial banks and global and regional financial institutions.

Bani is a multi-currency payment platform that provides clearing and settlement services in Arab and international currencies that meet eligibility requirements for clearing and settling inter-Arab financial transactions, as well as financial transactions between Arab countries and the main trading partners of Arab countries. 

The platform aims to enable financial and banking institutions in the Arab region, including central and commercial banks, to send and receive intermittent payments throughout the Arab region and abroad in a safe and reliable manner, at an appropriate cost and high efficiency. 

The platform offers participants modern payment solutions that comply with international standards, principles and international compliance requirements. The launch of the platform constitutes an important step towards enhancing economic and financial integration opportunities in the Arab region and supporting investment links with the trading partners of Arab countries in various continents. 

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September 29, 2020
 
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And brother of Baghdad

The Central Bank of Iraq participated separately in the meetings of the Board of Directors of the Arab Monetary Fund and the Board of Directors of the Arab Trade Financing Program.

As this bank discussed with the member states of the Board of Directors of the Arab Monetary Fund issues that support joint Arab action, most notably the "Arab Payments and Clearing System" Buna "and its importance in facilitating inter-Arab payments and financial transfers.

While the meetings of the Board of Directors of the Arab Trade Financing Program included discussions on mechanisms for re-arranging funding priorities for the national agencies organizing the program, in a manner that helps mitigate the effects of the Corona pandemic on Arab trade.

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  • 4 weeks later...

A strategic partnership to develop innovative payments services

 
The Arab Monetary Fund announced a partnership contract between the "Buna" platform for Arab payments and "Swift" on the sidelines of the joint workshop between 
The two institutions.
A fund statement followed by Al-Sabah stated that the workshop held a high-level panel discussion between experts from the "Bunaa" Arab Payments platform and the "Swift" Association, in which it dealt with the latest developments in the field of cross-border payment settlement systems, and the strategic plans and projects to implement them, in order to improve payment services. And infrastructure development in the Arab region and the world in the face of challenges 
the list.
The current cooperation to establish the instant payments system in the BUNA platform through the SWIFT network was highlighted, in addition to aspects of enhancing compliance frameworks for anti-money laundering and terrorist financing operations through the participation of the Bani platform in the “Swift” system of “know your customer” rules. e. The Central Bank of Iraq had announced, earlier, its participation in the "Buna" platform for Arab payments in a workshop for banks operating in Iraq, after the launch of the platform by the Arab Monetary Fund.
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16 minutes ago, yota691 said:

A strategic partnership to develop innovative payments services

 
The Arab Monetary Fund announced a partnership contract between the "Buna" platform for Arab payments and "Swift" on the sidelines of the joint workshop between 
The two institutions.
A fund statement followed by Al-Sabah stated that the workshop held a high-level panel discussion between experts from the "Bunaa" Arab Payments platform and the "Swift" Association, in which it dealt with the latest developments in the field of cross-border payment settlement systems, and the strategic plans and projects to implement them, in order to improve payment services. And infrastructure development in the Arab region and the world in the face of challenges 
the list.
The current cooperation to establish the instant payments system in the BUNA platform through the SWIFT network was highlighted, in addition to aspects of enhancing compliance frameworks for anti-money laundering and terrorist financing operations through the participation of the Bani platform in the “Swift” system of “know your customer” rules. e. The Central Bank of Iraq had announced, earlier, its participation in the "Buna" platform for Arab payments in a workshop for banks operating in Iraq, after the launch of the platform by the Arab Monetary Fund.


 

CBIRIQBA XXX - SWIFT Code (BIC) - CENTRAL BANK OF IRAQ in BAGHDAD - IRAQ

Swift Code CBIRIQBA is the unique bank identifier for CENTRAL BANK OF IRAQ's head office branch located in BAGHDAD - IRAQ and it's used to verify financial transactions such as a bank wire transfers (international wire transfers). Check the CBIRIQBAXXX SWIFT / BIC code details below.

The bic / swift code provides information about the bank and branch where the money should be transferred. Being able to check information about the code will provide you with the proper information necessary to make or receive payments. Some banks and their associated branches benefit from an address listing which provides you with the means to match swift codes with financial institution office address.

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THE ARAB MONETARY FUND ANNOUNCES ITS PARTNERSHIP WITH SWIFT AT THE OCCASION OF BUNA’S 14TH VIRTUAL MARKET PARTICIPANT USER GROUP WORKSHOP: SHAPING THE PAYMENTS LANDSCAPE IN THE ARAB REGION

 22-10-2020

 

The Arab Monetary Fund (AMF) is pleased to announce its partnership with Swift at the occasion of the Buna’s 14th 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.

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