Oman: Central Bank Joins Gulf Payments System “Aafaq”

Oman News developments

Oman: Central Bank Joins Gulf Payments System “Aafaq”

Al-Bayan, 2 June 2024: Oman’s Central Bank has announced that it is joining the Gulf Payments System ‘Afaq’.

Afaq is operated by the Gulf Payments Company owned by the central banks of the GCC countries for cross-border transfers in local Gulf currencies.

This comes within the framework of the bank’s efforts towards developing cross-border payment systems and adopting the latest technologies in this field in a way that improves efficiency and speed and contributes to reducing costs.

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Tanya Jain