Towards Unified Gulf Payments
Promising horizons to establish and develop an integrated and shared infrastructure for Gulf payments
Recent News
Central Bank of Kuwait Announces Joining of the Second Group of Banks to GCC Cross-border Payment System (AFAQ)
Recent News
Gulf Payments Company Holds a Virtual Webinar Titled “AFAQ Cross-Border Service between GCC Countries”
We aim to achieve advanced stages of economic and financial integration among the GCC countries
GCC based company founded in accordance to the GCC Council resolution. The company aims to establish and develop a system that connects all payment systems in the GCC countries and serve as the cornerstone for regional payments and settlements systems in the GCC region.
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AFAQ System
A regional payments system, allowing the same-day execution and settlement of financial transactions in GCC local currencies, with low fees and supported by a safe and stable ecosystem.
AFAQ cross currency service
Offering transfer services between local currency (from the originating country) to local currency (the receiving country).
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AFAQ USD service
Offering transfers between the sender’s country in the single currency and the beneficiary country in the same currency.
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GCC Participants Banks in AFAQ System
In cooperation with the GCC Central Banks, we build a joint payments system within a strategic program and in accordance with internationally recognized best practices and standards.
AFAQ Participants
