Arab Payments Week Kicks Off In Abu Dhabi To Foster Financial Sector Innovation

The Arab Payments Week, scheduled from 26th to 28th February 2024 in Abu Dhabi, stands as a pivotal gathering for those at the forefront of the payment systems sector. This event is designed to foster discussions among policymakers, regulators, and practitioners about the advancement of payment systems and the promotion of both local and cross-border payment innovations. With a focus on cooperation opportunities, the conference aims to propel innovation and support the widespread adoption of digital financial services across the Arab region and beyond.

Organized by the Arab Monetary Fund (AMF) and the Arab Regional Payment System (Buna), which offers clearing and settlement services across Arab countries and other regions, this event is set to feature over 40 leading experts in the field. The Arab Payments Week aspires to underscore its critical role in driving economic growth by enhancing integration among Arab economies and bolstering their trade and investment ties with global partners.

The conference will see participation from a diverse group of global financial sector representatives, including central bank leaders, governmental and regulatory bodies, commercial banks, and payment infrastructure systems. This gathering is a testament to the event's significance in facilitating international payments and fostering economic development within the region.

Mehdi Manaa, CEO of Buna, emphasized the importance of this event, stating, "The Arab Payments Week is a major stride towards shaping the future of financial transactions in our region and worldwide. Financial community leaders coming together provides an opportunity to solidify the Arab region's stature as a centre for facilitating international payments. We are pleased with the fact that the Buna platform is leading this initiative, reaffirming our commitment to creating a more efficient and inclusive payment environment."

This initiative by AMF and Buna not only aims to drive innovation within the financial sector but also seeks to encourage dialogue and collaboration among key stakeholders. By doing so, it hopes to shape a future where digital financial services are more broadly adopted, thereby enhancing economic prospects across the Arab region and setting a precedent for global payment practices.

With inputs from WAM