Central Banking

Arab regional payment system set for 2020 launch


Work on a cross-border payment platform within the Arab region has been accelerated to ensure it can be up and running by 2020, said Abdulrahman Al Hamidy, director general chairman of the Arab Monetary Fund, at the end of March.

Speaking at an event in Abu Dhabi, United Arab Emirates (UAE), Al Hamidy said the platform would replace the current system, which is heavily reliant on costly correspondent banks.

The new payment platform “is a low-cost, fast, simple and safe solution that addresses

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: