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RIYADH: The Saudi British Bank, known as SABB, has joined the ‘Buna’ payment system which specializes in providing clearing and settlement services in multiple currencies across the Arab region. Operated by the Arab Regional Payments Clearing and Settlement Organization, a subsidiary of the Arab Monetary Fund, the system was launched in 2020 to foster wider international trade

Saudi British Bank (SABB) has joined Buna, the Arab payment system operated by Arab Regional Payments Clearing and Settlement Organization, a subsidiary of the Arab Monetary Fund (AMF).

The settlement of payments is done instantly for transfers to beneficiary banks participating in the platform.