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Six currencies account for 90% of Arab transactions: AMF chief

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Six currencies account for 90 per cent of Arab transactions, which are the Emirati Dirham, the Saudi Riyal, the Egyptian Pound, the Jordanian Dinar, the US Dollar and the Euro, said Dr Abdulrahman bin Abdullah Al Hamidy, director-general and chairman of the Board of Executive Directors of the Arab Monetary Fund (AMF).

Al Hamidy pointed out that the ‘Buna Payment Platform’ is the first regional cross-border and multi-currency payment system that supports Arab transactions in investment, trade and financial transfers, and strengthens Arab integration through the use of Arab currencies in transactions, he told Wam.

The platform is progressing towards achieving its objectives and has forged alliances with Arab and international trade partners, he added, noting that a related agreement was signed with India, and the efforts are on to open new markets in Africa.

The platform has adopted a comprehensive strategy to link Arab financial markets with the Jordanian financial payment system recently joining the platform, which will encourage the use of the Jordanian Dinar in Arab transactions, he added.

The platform is an integrated system designed to provide clearing and settlement services for payments in Arab and international currencies, to enable financial and banking institutions in the Arab region and beyond, including central and commercial banks, to send and receive cross-border payments throughout the region and abroad in a safe, reliable and affordable manner, Al Hamidy further added.

The platform offers users modern payment solutions, in line with international standards and compliance requirements, to strengthen economic and financial integration in the Arab region and reinforce investment ties with commercial partners worldwide, he said in conclusion.

Buna is a cross-border payment system owned by the Arab Monetary Fund, aiming to enable financial institutions and central banks in the Arab region and beyond to send and receive payments in local currencies as well as key international currencies in a safe, cost- effective, risk-controlled, and transparent environment. Buna offers participants modern payment solutions that comply with international standards, principles, and compliance requirements.

Thanks to its cross-border payment system Buna contributes to exploring and strengthening opportunities for economic and financial integration in the Arab region and supporting investment ties with the global trading partners. Buna welcomes the inclusion of all banks that meet the criteria and conditions for participation, primarily the standards and procedures of compliance aspects.

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Soon, flying cars will let you travel from Dubai to Bahrain in just 2 hours by 2027

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A futuristic vision once confined to science fiction is now approaching takeoff in the UAE. By 2027, flying cars may become part of the country’s transportation reality, slashing travel times between key GCC cities and ushering in a new era of mobility.

Imagine gliding from Dubai to Bahrain in just over two hours or reaching Muscat from Abu Dhabi in 2 hours and 20 minutes, without ever stepping foot on an aircraft. This vision is being brought closer to reality by Dutch company PAL-V, which recently showcased its pioneering flying car, the Liberty, at the Sharjah Research Technology and Innovation Park (SRTIP).

The PAL-V Liberty is a sleek, three-wheeled vehicle that seamlessly transforms into a gyroplane in under 10 minutes. With a top airspeed of 180 km/h and a flight range of up to 500 kilometres, the Liberty is designed for both practicality and performance. It is powered by a combustion engine and requires just 200 metres of runway for takeoff, making it suitable for a wide range of environments.

Designed for both road and air use, the Liberty has already received European road certification and recently achieved a significant aviation milestone: a “No Technical Objection” (NTO) certification from the European Union Aviation Safety Agency (EASA). This makes it the first vehicle of its kind to be cleared for both land and air travel within the FlyDrive category.

In a bold move towards integrating flying cars into the region’s transport ecosystem, Dubai-based company Aviterra has placed an order for over 100 Liberty units. The aircraft’s versatility is key to its appeal, it can serve roles ranging from emergency medical response and border surveillance to personal intercity travel.

However, piloting the Liberty will require more than a conventional driver’s licence. Operators must also obtain a gyroplane licence, with PAL-V establishing global training centres through its PAL-V Institute to facilitate certification and pilot readiness.

With the UAE’s continued commitment to innovation and smart mobility, flying cars could soon be a common sight in its skies.

(Source: Travels Dubai)

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Dubai announces free bus rides for churchgoers during Easter weekend: How to use the service

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Dubai’s Roads and Transport Authority (RTA) has announced free bus services for residents and visitors attending Easter celebrations this weekend. From (Good) Friday, April 18, to (Easter) Sunday, April 20, between 8:00 am and 8:00 pm, free shuttle buses will operate between Energy Metro Station and the Church Complexes in Jebel Ali.

For those heading to Easter events in Oud Metha, the RTA recommends using the Dubai Metro to reach Oud Metha Station, followed by a short walk to nearby churches.

This initiative aligns with the UAE leadership’s directives to foster coexistence, tolerance, and harmony within society, reflecting the RTA’s commitment to engaging with Dubai’s diverse communities.

Where to Catch the Free Buses:
The RTA will run free buses between Energy Metro Station and the Church Complexes in Jebel Ali, from 8 am to 8 pm during the three-day period. Whether you’re attending services or visiting family and friends, this makes getting there easier and cost-free.

Heading to Oud Metha?
Visitors attending Easter events at churches in Oud Metha Road can hop off at Oud Metha Metro Station and reach their destination with just a short walk.

For detailed schedules and updates, passengers can refer to the RTA’s official channels or visit their timetable portal.

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UAE plans big boost for Emirati talent, take steps to protect national identity and target harmful content

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The UAE is making big moves to improve its media sector, and it’s putting Emirati talent at the heart of it.
The Federal National Council (FNC) has put forward a set of important recommendations to improve the UAE’s media landscape and better reflect the country’s culture, values, and identity.

During a recent meeting in Abu Dhabi, the FNC discussed ways to enhance the national media’s role in promoting Emirati identity and ensuring high-quality content. The session was attended by key officials, including Minister Abdulrahman Al Owais and Abdulla Al Hamed, Chairman of the National Media Office and the UAE Media Council.

Key Goals: More Emiratis in Media and Stronger Oversight

One of the main focuses was increasing Emirati representation in leadership roles across media organisations, both public and private. The FNC also recommended using experienced Emirati media professionals as mentors and trainers.

Other suggestions included working closely with universities to prepare students for modern media jobs, and updating academic programmes to match the real-world needs of the media industry.

The FNC also called for clearer roles and responsibilities between media outlets, and for stronger leadership from the National Media Office to guide and unify media efforts across the country.

Cultural Accuracy in Media Matters

FNC member Naema Al Sharhan raised concerns about the incorrect use of Emirati symbols, language, and clothing in media. She urged for more respect and accuracy in how the UAE’s culture is portrayed.

In response, Al Hamed confirmed that actions were taken against past violations. A new policy now requires that anyone speaking in the Emirati dialect about national projects must be an Emirati and wear traditional dress.

Fighting Harmful Content and Supporting Good Media

The UAE Media Council revealed it had blocked over 9,000 pieces of harmful media content in 2024 and conducted more than 6,600 inspections to ensure compliance with regulations. It also approved 149 TV shows, films, and plays that align with national values.

To involve the public, a new national platform is being developed where residents can report media violations. The aim is to protect the community from misleading or inappropriate content and promote responsible media.

More Emiratis in Media Jobs

One of the FNC’s main goals is to see more Emiratis in leadership positions across TV, radio, newspapers, and digital platforms. They also want to prepare the next generation of local media professionals by providing training, mentorship, and real-world experience.

Experienced UAE media figures will be brought in as trainers and advisors to guide newcomers and help shape the country’s media future.

The government is actively encouraging young Emiratis to join the media sector. At least 60 nationals have recently graduated through special training programmes, and a committee of 50 experts is helping build a stronger media system for the future.

Efforts are also being made to improve public awareness, especially among the youth, about how the media works and how to use it responsibly.

(Source: Wam)

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