ila Bank revolutionises cross-border payments, joins BUNA

TDT | Manama                                                     

The Daily Tribune – www.newsofbahrain.com

Get ready for faster, cheaper, and more seamless cross-border transfers! ila Bank, Bahrain’s leading digital mobile-only bank, has joined forces with BUNA, the Arab world’s cutting-edge payment system, marking a groundbreaking moment for the region’s digital banking landscape.

This landmark partnership positions ila Bank as a frontrunner in the digital banking realm, empowering its customers with secure and efficient cross-border multicurrency transactions.

No more hefty fees or frustrating delays – sending and receiving funds across borders just got a whole lot smoother.

Paving the Way for a Frictionless Future

BUNA boasts a robust network of participants across the Arab world, allowing ila Bank customers to initially transfer funds in AED, with plans to expand to even more currencies in the near future.

This aligns perfectly with ila’s commitment to delivering an unparalleled banking experience, constantly innovating to meet the evolving needs of its customers.

“We’re thrilled to join BUNA and add even more value to our cross-currency transfer offerings,” says Nada Tarada, Head of Business & Customer at ila Bank.

“With our unique multi-currency accounts, we’re excited to provide our customers with a fast, transparent, and cost-effective way to send and receive money across borders.”

Boosting Regional Growth, International Trade

The impact of this collaboration extends far beyond individual transactions.

As Tarada emphasizes, initiatives like BUNA play a crucial role in driving economic progress throughout the region.

“By streamlining payments in both Arab and international currencies, this partnership will significantly contribute to the growth and development of the regional economy,” she states.

Mehdi Manaa, Chief Executive Officer of BUNA, echoes this sentiment, highlighting the partnership’s potential to revolutionize cross-border payments.

“We’re delighted to welcome ila Bank to our network,” he says.

“Together, we’re making international trade and investment within the Arab region and beyond more efficient and secure.”

A Catalyst for Change

BUNA’s mission goes beyond individual transactions. Established under the guidance of the Arab Monetary Fund, it aims to foster economic and financial integration between Arab countries, ultimately expanding trade and investment activities globally.

By supporting Arab transactions in trade, investment, and financial transfers across a range of currencies, BUNA is paving the way for a more interconnected and prosperous Arab world.

New Era of Digital Banking

With ila Bank joining BUNA’s network, the future of cross-border payments in Bahrain and beyond looks brighter than ever.

This collaboration marks a significant step towards a more seamless, efficient, and inclusive financial landscape, one where borders become less of a barrier and global connections flourish.

So, buckle up, Bahrain – the era of frictionless cross-border payments has arrived!