Invest Bank, Buna roll out multi-currency settlement in UAE

Monday 27 June 2022 15:17 CET | News

UAE-based Invest Bank has rolled out a multi-currency payment service following a partnership with the Buna platform, according to Gulf Today.


The partnership also allows Invest Bank to seek to improve its role in developing the regional cross-border payments sector. Buna, The Arab Regional Payments Clearing and Settlement Organisation, is a centralised 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.

Invest Bank was established in 1975 as a public shareholding company, in the Emirate of Sharjah and its shares are publicly traded on the Abu Dhabi Securities Exchange (ADX). Since its inception, the Bank has made significant advances and has contributed to the economic development of Sharjah and the wider UAE.

The Bank has built a solid reputation and strong relationships with its loyal corporate and retail clients and continues to be their trusted bank of choice.

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Keywords: partnership, settlement, banks, online banking
Categories: Banking & Fintech
Companies: Buna, Invest Bank
Countries: United Arab Emirates
This article is part of category

Banking & Fintech



Invest Bank

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