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The Arab Monetary Fund's BUNA platform is revolutionizing cross-border payments by expanding its currency network to include those from Pakistan, India, China, and various African and European countries by 2024-2025, as announced at the World Governments Summit in Dubai. This strategic move aims to enhance financial collaboration across continents, promoting the use of Arab currencies in transactions and supporting economic cooperation with strong compliance against money laundering and terrorism financing. By connecting BUNA with national payment systems worldwide and aiming to include additional currencies, this initiative is set to decrease reliance on the US dollar, marking a significant step towards financial diversification and de-dollarization for the Arab Monetary Fund and its participating countries.
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