Towards Unified Gulf Payments

Promising horizons to establish and develop an integrated and shared infrastructure for Gulf payments

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Recent News

A Glance at The CEO of Gulf Payments Speech in the Meeting of the FSB Regional Consultative Group for the Middle East and North Africa (RCG MENA)

Recent News

The Central Bank of the United Arab Emirates joins the Gulf Payments System “AFAQ”

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about
01 About Gulf Payments

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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02 Our Services

AFAQ System

Derived from the Arabic term for horizon, AFAQ stands for (Arabian Gulf System for Financial Automated Quick Payment Transfers), 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.

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AFAQ cross currency service

Offering transfer services between local currency (from the originating country) to local currency (the receiving country).

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partners
03 Our partners

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
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