The BCT is preparing to join the inter-Arab settlement system “Buna” and has begun the process of technical-functional integration to the Platform, whose objective is to promote the integration of payment infrastructures in the Arab region and develop inter-Arab trade and financial exchanges.
“Buna” launched by the Arab Monetary Fund in February 2020 is a multi-currency payment platform, which provides clearing and settlement services, in Arab and international currencies.
The issuing institution recalls in a note to banks published Wednesday, any bank participating in the SGMT (System for Transfer of Large Amounts), wishing to register for this purpose and join this system as a direct member or indirectly through another bank, is called beforehand to submit a request to the Central Bank of Tunisia.
Following the examination of this request, the BCT issues, after verification of the eligibility criteria of “Buna”, to the applicant bank, a certificate of membership in the SGMT, to avail itself with the manager of this system, accompanied by the file required by the latter and dealing in particular with legal aspects, governance and internal and financial control.
