Buna system aims to be the payment infrastructure of the Arab world and beyond to transform the financial landscape in the Arab region, empower Arab economies, facilitate greater financial inclusion, strengthen regional integration, promote regional currencies, and grow trade relationships.
Buna system streamlines cross-border payments by reducing costs and increasing access, speed, efficiency, and transparency.
Since it’s launch in 2020, Buna onboarded 6 major currencies (AED, SAR, JOD, EGP, USD, and EUR), these currencies represent more than 80% – 90 % of the intra Arab cross-border payments flows.
Buna is currently in the process of onboarding approx. 180 banks from different markets, 60 banks have already signed the participation agreement and more than half of them are operational.
Buna is processing cross-border payments within seconds, giving end users (consumers and entities) the ability to transact cross-border in a similar fashion to domestic payments.
Buna charges a flat fee regardless of transaction amount, which means end users will have the ability to transact with higher amounts and higher frequency of sending money without incurring incremental costs.

https://buna.co/

• Egypt
• United Arab Emirates

• The poor
• Migrants
• Other target beneficiary group(s) (Governments, NGOs, Small-Medium Businesses, Financial Institutions, Central Banks, Corporates)

Buna system is operating according to the global best practices including the Principles for Financial Market Infrastructures (PFMIs) issued by the Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO). The system utilizes open-standard technology, standard ISO-based messaging, and have well-documented processes.

This enables the system to serve any region or country around the world regardless of currency or payment use case, whether centrally and remotely by utilizing the same setup, or by creating replicas of the system in other regions / countries.

Buna system streamlines cross-border payments by reducing costs and increasing access, speed, efficiency, and transparency.
These factors play a key role in supporting economic growth and sustainability by boosting the money flows between countries, whether for consumer, business or public sector use including governments and NGOs, leading to a positive socio-economic impact and greater financial inclusion especially for the more vulnerable communities.

Buna system streamlines cross-border payments by reducing costs and increasing access, speed, efficiency, and transparency. This provides end users with better financial services at lower costs, especially in the space of consumer remittance and SME payments, leading to a positive socio-economic impact and greater financial inclusion.