QIIB announced that it has joined the AFAQ Payments System, becoming one of the first commercial banks from Qatar to join the system, providing a secure and reliable means for its customers to execute financial transfers in local currencies across the GCC countries.

Joining AFAQ marks an important step towards facilitating the financial services offered to customers, reflecting QIIB commitment to keeping pace with developments in the payments sector, and aligning with its strategy to develop its digital infrastructure and expand the scope of its services regionally.

AFAQ is a regional payments system operated by the Gulf Payments Company, which is owned by the GCC central banks. The system links the payment systems of the GCC countries, enabling financial transfers in local currencies instantly, within a secure and stable environment.

For more information, please visit GPC’s website: https://www.gulf-payments.com/