De-Dollarization: Cross-Border Payment Platform to Include Currencies from Pakistan, India, and Chin

BUNA, the UAE-based cross-border payment platform, is poised for a significant expansion by integrating currencies from Pakistan, India, China, as well as various African and European nations during 2024-2025. Announced by Fahad Al Turki, chairman of the Arab Regional Payments Clearing and Settlement Organization, at the World Governments Summit in Dubai, this initiative seeks to enhance BUNA’s connectivity with national payment systems globally. This expansion is aimed at fostering financial collaboration across continents, with UAE Minister of State for Financial Affairs, Mohamed bin Hadi Al Hussaini, emphasizing BUNA’s role in promoting investments and the usage of Arab currencies in financial transactions, while also upholding strict compliance against money laundering and terrorism financing.