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Gulf Countries Advance Payment Systems
The Governor of the Saudi Central Bank (Sama), Ayman Silari, affirmed that the Gulf Cooperation Council countries have made significant progress in developing their payment infrastructure, expanding digital payments, enhancing interoperability, and building a more efficient and resilient financial system. He pointed out that the Instant Gross Settlement System for the Gulf States (Afaq) represents an important development to strengthen these infrastructures, with future opportunities for exchanging expertise with China in regional payment systems. Silari also emphasized the importance of developing payment arrangements to keep pace with the growth of trade and investments between the Gulf and China, highlighting the need to enhance financial cooperation and share expertise between the two sides.
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