The Arab Monetary Fund (AMF) is preparing to launch an international immediate payment service, as part of its cooperation with central and commercial banks around the world. The new service is the latest part of its “Beni” platform for Arab payments, with several other services set to launch in the coming period. The AMF held a workshop to review the future vision of the prompt payment service and its business model. The workshop was held to exchange ideas and experiences among the participants. Previous AMF-run workshops have presented innovative ideas for the first time to commercial banks operating in the region. The international immediate payment service is the first of its kind in the Arab world, which contributes to a qualitative shift in the region’s payment method capabilities, especially regarding individual transfers...read more...
SourceDaily News Egypt