January 27, 2023


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An initiative to pay the salaries of retirees residing in 3 Arab countries through the “Bani” platform Gulf newspaper

Abu Dhabi: «Gulf»
The Central Bank of Iraq, Jordan and Egypt and the “Bunna” platform – the payment system operated by the Regional Corporation for Clearing and Settlement of Arab Payments, owned by the Arab Monetary Fund – announced a joint Arab initiative to launch a service to pay the salaries of retirees residing in Arab countries using the “Bunna” platform. The first phase includes the Republic of Iraq, the Hashemite Kingdom of Jordan and the Arab Republic of Egypt, where the new service will enable Iraqi retirees residing in the Hashemite Kingdom of Jordan and the Arab Republic of Egypt to receive their monthly salaries more quickly and with higher efficiency, by opening a bank account for every Iraqi retiree who wishes to benefit from this Service in any of the banks participating in the initiative that have completed the technical readiness requirements to join the Bani platform.
Salary transfers will start at the end of each month with the participation of active banks in each of the Iraqi, Jordanian and Egyptian markets that have completed the activation of the Jordanian dinar and the Egyptian pound on the Bani platform, and retirees can follow the news issued by the various banks to obtain more relevant information.
And in light of the joining of more banks to the platform after completing the activation of the Jordanian dinar and the Egyptian pound, work will be done later on activating the initiative in coordination with Arab central banks in other countries. With the aim of improving the experience of retirees at the level of the Arab world, and opening new horizons to improve the efficiency of payments in various uses such as allowances for scholarship students, allowances for health care recipients, transfers of diplomatic missions and other government payments initiatives, to reach the desired goal of creating the platform represented in strengthening efforts in the field of Arab work The subscriber and the activation of inter-Arab payments using Arab currencies.
Mustafa Ghaleb Makhaif, Governor of the Central Bank of Iraq, said, “We are always keen to provide the best financial services to citizens. This initiative also comes within the framework of our continuous efforts to employ financial technology and provide the banking sector with the best modern and safe solutions in the payments sector and financial inclusion.
For his part, Dr. Adel Al-Sharkas, Governor of the Central Bank of Jordan, said, “Our support for this initiative is a continuation of encouraging the Central Bank of Jordan to use the “Bani” platform for Arab payments. This also comes as a continuation of the approach in supporting joint Arab initiatives aimed at enhancing economic and social integration in the Arab region, in addition To the pivotal role played by the Central Bank of Jordan in providing safe and efficient payment systems to achieve the electronic transformation of payments locally and regionally.
Hassan Abdullah, Governor of the Central Bank of Egypt, said: “The Central Bank of Egypt is always keen to strengthen economic cooperation with Arab countries, as the new initiative represents a pioneering step in this direction, by providing modern Arab payment solutions that comply with international standards and principles, and the quality and efficiency of financial services.” regional among Arab countries.
For his part, Dr. Abdul Rahman bin Abdullah Al-Hamidi, Chairman of the Board of Directors of the Regional Corporation for Clearing and Settlement of Arab Payments “Bani Platform” said: “Financial inclusion is one of the strategic goals of the Bani platform, which contributes to enhancing this, believing in the importance of this initiative in improving the experience of a large segment of Arab citizens and enhancing Arab economic ties and providing a more efficient experience for implementing cross-border payments enables the Arab banking sector to better serve their customers in various fields of governmental, commercial and personal payments, in accordance with the highest international standards.