Muscat, Oman – 30th November 2021: ila Bank, one of the leading digital banks in Oman, has officially joined BUNA, the region’s first cross-border payment system.
BUNA is a state-of-the-art platform that connects financial institutions across the Arab world, facilitating seamless cross-border transactions between member banks. By joining BUNA, ila Bank will gain access to a robust infrastructure that allows for efficient and secure cross-currency transactions.
With its cutting-edge digital banking services, ila Bank has quickly gained popularity among customers, offering convenient and innovative solutions for their financial needs. By integrating with BUNA, ila Bank aims to further enhance its capabilities and provide its customers with access to a broader range of cross-border payment services.
As a member of BUNA, ila Bank will be able to leverage the platform’s advanced features, including real-time settlements, reduced transaction costs, and enhanced transparency. This partnership will enable ila Bank to offer its customers faster, more affordable, and more reliable cross-border transactions, making it an attractive choice for individuals and businesses involved in international trade.
“We are delighted to join BUNA and contribute to the advancement of cross-border payments in the Arab world,” said Sarah Al Abri, CEO of ila Bank. “This collaboration aligns perfectly with our commitment to providing our customers with innovative and efficient banking solutions. With BUNA’s cutting-edge technology, we will be able to simplify and expedite cross-currency transactions, further meeting the evolving needs of our customers.”
BUNA has rapidly gained recognition in the Arab financial landscape since its launch in November 2020. It aims to strengthen economic ties between Arab countries by streamlining cross-border payments and fostering collaboration between financial institutions across the region.
This partnership between ila Bank and BUNA is a significant step towards revolutionizing cross-currency transactions in Oman and the wider Arab world. It not only demonstrates the continuous drive for innovation in the banking sector but also showcases the growing importance and potential of digital banking solutions for seamless international transactions.
With ila Bank’s addition to the BUNA ecosystem, customers in Oman and beyond can look forward to a more efficient, secure, and interconnected cross-currency payment landscape. This collaboration marks an exciting milestone in the banking industry and sets the stage for further advancements in cross-border financial services.
For more information about BUNA, please visit their official website: www.buna.om