Jordan Islamic Bank is the first Jordanian Islamic bank joins to the” Bunna " platform for Arab payments

Jordan Islamic Bank announced that it has joined the "Bunna" platform for Arab payments, affiliated with the Arab Regional Payments Clearing and Settlement organization, owned by the Arab Monetary Fund, to be the first Jordanian Islamic bank to join the platform and launch the clearing and settlement service in Arab and international currencies, The first stage will be in UAE Dirhams, after the bank has met all the criteria and conditions for participation in the platform, foremost of which are the standards and procedures for compliance aspects. Buna platform is an integrated system specialized in providing clearing and settlement services for payments in Arab and international currencies. It is the first regional payment platform in the Arab region, based in UAE, that encourages the use of Arab currencies in clearing and settling cross-border financial and investment transactions, and aims to empower financial and banking institutions in the Arab region and abroad, including central and commercial banks, to send and receive inter-payments throughout the Arab region and abroad in a safe and reliable manner, at an appropriate cost and with high efficiency. On this occasion, CEO/General Manager of Jordan Islamic Bank, Dr. Hussein Said, said that our bank's joining the "Bunna" platform came in response to the Central Bank of Jordan's invitation to Jordanian banks to participate in the platform and benefit from the added and pivotal value provided by the "Bunna" platform for the banking sector and Arab economies. He praised the efforts made by the Central Bank of Jordan to advance the services of the Jordanian banking sector, as well as appreciating the distinguished role of the "Bunna" platform in supporting the growth and development of the Arab financial sector and the use of Arab currencies in clearing or settling payments. Dr. Hussein Said also stressed the Jordan Islamic Bank's constant endeavor to be the first in enhancing its digital banking services and providing modern payment solutions to its customers in accordance with international standards, principles and requirements of compliance and supports the bank's strategy and plans that keep pace with the orientation of the global banking market, and comply with the provisions and principles of Islamic Sharia. At this stage, payments and remittances will be settled through the “Bunna” platform in Emirati dirhams, so that the rest of the Arab currencies included in the platform will be expanded in the future as settlement currencies, including the Jordanian dinar, the Egyptian pound, the Saudi riyal, and international currencies (US dollar and euro Currency). Expressing his hope that Jordan Islamic Bank will meet the expectations of all its customers, achieve their aspirations, enhance their confidence in dealing with it, and provide more services and products that meet their needs. For his part, Mr. Mahdi Manea, CEO of "Bunna" platform for Arab payments, said: "We welcome the joining of Jordan Islamic Bank as a financial institution participating in the Buna system for Arab payments, and it is the first Islamic bank from Jordan to join the list of banks participating in Buna. Buna Arab Payments Platform offers its secure and efficient cross-border payment services to various financial institutions, including Islamic banks. We look forward to cooperating with Jordan Islamic Bank and the Jordanian banking sector to continue promoting cross-border payments in Arab and international currencies and responding to the financial requirements of individuals and companies in the Hashemite Kingdom of Jordan. On this occasion, I would like to thank the Central Bank of Jordan for its support to the Buna platform.”