Qatar Central Bank (QCB) joined the Gulf Payments System “AFAQ”, operated by the Gulf Payments Company (GPC), which is owned by the GCC central banks. Doha Bank, Qatar International Islamic Bank, and Dukhan Bank have also joined “AFAQ” as the first commercial banks from Qatar to participate in the system, bringing the total number of participating banks across the GCC to 74 banks to date. Financial transfers between QCB and the participating GCC banks have successfully commenced. With QCB joining “AFAQ”, all GCC central banks are now participating in the system. The onboarding of the remaining commercial banks is being carried out in successive phases in line with the agreed programme.
