Sharjah’s Invest Bank unveils multi-currency settlement service via Buna platform

By Shilpa Annie Joseph, Desk Reporter
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Invest Bank
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Sharjah-based leading financial institution Invest Bank has launched the multi-currency payment service through the Buna platform as part of its commitment to provide innovative means to improve customer experience.

Buna, The Arab Regional Payments Clearing and Settlement Organization, is a centralized cross-border payment system owned by the Arab Monetary Fund.

The step also intends to enhance its role in developing the regional cross-border payments sector.

Ahmad Mohamed Abu Eideh, Chief Executive Officer of Invest Bank, commented that, “We are pleased to work with the Arab Monetary Fund on this initiative, as we at Invest Bank are always seeking to confirm our commitment to the United Arab Emirates by promoting such initiatives, which have a great role in stimulating economic and financial growth in the Arab region.”

For his part, Mr. Mehdi Manaa, Chief Executive Officer of the Buna Arab Payments Platform, said that, “We are pleased to welcome Invest Bank in Buna’s network of participants. We look forward to continuing the collaboration with Invest bank to develop innovative payment solutions for corporates and individuals based on Buna’s services to process fast and safe cross-border payments in multi-currencies.”

“On this occasion, I would also like to thank the Central Bank of the United Arab Emirates for its sponsorship and continuous support to Buna,” Mr. Manaa further added.

Invest Bank

Invest Bank was established in 1975 as a public shareholding company, in the Emirate of Sharjah and its shares are publicly traded on the Abu Dhabi Securities Exchange (ADX). Since its inception, the Bank has made significant advances and has contributed to the economic development of Sharjah and the wider UAE.

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