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Arab Monetary Fund adds Saudi Riyal as settlement currency in ‘Buna’ The Saudi Riyal is the third Arab settlement currency to join Buna’s payment platform The Saudi Central Bank and the Arab Monetary Fund (AMF) announced on Thursday the inclusion of the Saudi Riyal as a settlement currency in Buna, the regional cross-border payment system owned by the AMF. The National Commercial Bank (NCB) has been assigned as a settlement bank for the Saudi currency. NCB has been awarded this role, as by the terms of the agreement signed with Buna and has completed all the required technical tests and...

Saudi riyal added to regional cross-border payment platform Becomes third Arab settlement currency to join Buna’s payment platform after UAE dirham and Egyptian pound December 24, 2020 Arab Monetary Fund (AMF). ABU DHABI — The Saudi Central Bank and the Arab Monetary Fund (AMF) announced on Thursday the inclusion of the Saudi riyal as a settlement currency in Buna, the regional cross-border payment system owned by the AMF. The National Commercial Bank (NCB) has been assigned as a settlement bank for the Saudi cur...