Towards Unified Gulf Payments
Promising horizons to establish and develop an integrated and shared infrastructure for Gulf payments
Recent News
H.E. Ahmed bin Jaafar bin Salim Al-Musalmi as Chairman of the Board of Gulf Payments Company
Recent News
National Bank of Kuwait (NBK) Introduces “AFAQ” Payment System on its Mobile Banking
Recent News
H.E the CEO of the Central Bank of Oman and Chairman of the Board of Directors of the Gulf Payments Company meets with the company’s employees at its headquarters in Riyadh
We aim to achieve advanced stages of economic and financial integration among the GCC countries
The Gulf Payments Company was founded in accordance with the GCC Supreme Council resolution and aims to build and develop a system that connects payment systems in the GCC countries.
Know MoreKey Milestones
May 2020
The company’s establishment in accordance with the GCC Supreme Council decision and completion of the establishment phases
December 2020
Launch of the "AFAQ" payments system and the onboarding of the GCC central banks
April 2021
Commencement of the onboarding of commercial banks and financial institutions
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.
AFAQ cross currency service
Offering transfer services between local currency (from the originating country) to local currency (the receiving country).
Know MoreAFAQ in Numbers
Number of participating banks
Value of transactions since the system's launch
(In Saudi Riyals)
Number of transactions since the system's launch
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
