The move paves the way for Buna to continue expanding its network of participants and currencies, he said.
“Our focus will always be to offer modern payment solutions across the Arab region and beyond, within the highest standards of information security and in compliance with international standards.”
In February, the AMF rolled out Buna, a multi-currency platform that enables financial institutions, including commercial lenders and central banks in the Arab world, to send and receive cross-border payments.
Last week, Saudi Arabia's riyal was included as the third Arab settlement currency in Buna after the UAE dirham and Egyptian pound.
The kingdom's largest lender, National Commercial Bank, was nominated as a settlement bank for the Saudi riyal, the AMF and Saudi Arabian Monetary Authority said in a December 24 statement.