Thursday, July 16, 2020 – 4:15 PM
Abu Dhabi, July 16 / WAM / The Arab Monetary Fund, in cooperation with the Saudi Arabian Monetary Agency, organized today a workshop to enroll banks operating in the Kingdom of Saudi Arabia in the “Beni” platform for Arab payments of the Regional Establishment for Clearing and Settlement of Arab Payments with the participation of senior officials from all banks and financial institutions in The kingdom.
The workshop discussed the process of attaching banks operating in the Kingdom of Saudi Arabia to the “structures” platform and the proposed work plan, and also touched on the technical requirements and the steps required to ensure their easy connection to the platform.
The workshop included a presentation by the Saudi Arabian Monetary Agency on the most important advantages of the platform in developing payment services in the region and the services provided to Saudi banks in enhancing its role in supporting investments, inter-trade and economic ties with the Kingdom’s trading partners.
The “Beni” platform for Arab payments provides distinguished services to Saudi banks to accelerate clearing and settlement of cross-border payments and reduce their costs, in light of the role that Saudi Arabia plays in economic, investment and financial activity in the Arab region.
The workshop comes after the announcement of the inclusion of the Saudi riyal in the “structures” platform as one of the Arab currencies that will be used to settle financial transactions, while the workshop is the ninth of a series of workshops dedicated to attaching banks in every Arab country.
WAM / Ahmed Al-Nuaimi / Awad Al-Mukhtar / Zakaria Mohieldin