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وكالة الأنباء القطرية
Qatar Central Bank joins Afaq Gulf System
The Qatar Central Bank announced its participation in the Gulf Payments System "Afaq," operated by Gulf Payments Company, with the aim of enhancing financial and monetary connectivity among the Gulf Cooperation Council (GCC) countries. This inclusion involves three Qatari commercial banks: Bank Duhail, Qatar International Islamic Bank, and Duhail Bank, bringing the total number of participating banks from GCC countries to 74. This step is significant in developing the Gulf Payments Platform, as it improves the efficiency, speed, and security of cross-border payments and financial transfers. It also supports collaborative efforts to boost trade and investment exchanges among Gulf nations. The scope of commercial bank participation is expected to expand as services are further developed, contributing to the creation of a more integrated and efficient payment ecosystem in the region.
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