Emirates NBD – Egypt has partnered with the Arab payment system Buna to facilitate payments and transfers across the Middle East region.
The partnership that was launched in the UAE is extending to Egypt to advance digitisation.
The collaboration with Buna is expected to provide Emirates NBD – Egypt’s customers with a seamless, efficient and secure way to make payments and transfers within the Arab world, reinforcing the bank’s position as one of the most innovative banks in the region.
“The alliance with Buna further strengthens our payments strategy, offering our clients a real-time, seamless, secure, and cost-effective digital experience in the payment domain,” Amr ElShafei, CEO and Managing Director of Emirates NBD – Egypt said, adding that the bank plans to fully leverage the capabilities of the platform and the opportunities that the collaboration with the Central Bank of Egypt will create.
Buna’s cross-border payment platform provides seamless clearing and settlement services in multiple currencies across the Arab region and is aimed at encouraging greater economic integration through increased trade and investment opportunities.
Mehdi Manaa, CEO of Buna, said, “We are pleased to welcome Emirates NBD – Egypt to Buna’s network of participants. This association reinforces our efforts to enrich trade relations in the Arab world and increases the value added to the participants and their clients.” Buna is operated by the ARPCSO, a subsidiary of the Arab Monetary Fund.
Emirates NBD – Egypt, is fully owned by Dubai-based Emirates NBD Group and is a major contributor to the banking industry on an international and global scale. The is one of the biggest regional financial institutions operating in the North African country with a network of 68 branches spread and 340 ATMs.
