Rupiah, Yuan to join the UAE Buna payment system
PHOTO: FILE BEIJING: UAE-based cross-border payments system Buna is set to expand to include currencies from Pakistan, China, India and several African and European countries by 2024-25. The system is already connected to 108 live banks in 14 countries, with an additional 105 banks installed on the platform. Currently, six currencies, including four from the Arab region, namely UAE dirham, Saudi Arabian riyal, Egyptian pound and Jordanian dinar, as well as the US dollar and the European single currency Euro, are part of the platform, which is being processed the cost of transferring funds in real time – efficiently. “The
