News
The Role of “AFAQ” in Improving Cross-Border Payments in the GCC
05-10-2025
The Committee on Payments and Market Infrastructures (CPMI), in its publication “Can Multilateral Platforms Improve Cross-Border Payments?” (July 2022), stated:
“For decades, cross-border payments were the forgotten corner of the world’s financial plumbing. But in 2020, the G20 countries decided, as a global priority, that these payment systems should be improved, acknowledging that people and economies worldwide stand to benefit from faster, cheaper, more transparent and more inclusive cross-border payment services. Multilateral regional payment platforms (Cross-Border) have been considered a viable option to support this direction.”
In the article published in The Central Bank Payments News, Ali Alhomidan, the CEO of Gulf Payments Company, highlights the role of the Gulf Payments system “AFAQ” in supporting this approach and efficiently contributing to the enhancement of regional payment systems while providing advanced and cost-effective services.
To view the full article:
https://cbpn.currencyresearch.com/blog/2025/09/26/the-role-of-afaq-in-improving-cross-border-payments-in-the-gcc
