UAE central bank joins "Afaq" Gulf payments system

Ben Job

The CBUAE said the move was "in line with its strategic objectives of shaping the future of the UAE's financial technology and digitization journey"

Nayera Abdallah, Reuters News

December 12, 2023

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DUBAI - The Central Bank of the United Arab Emirates (CBUAE) has joined the "AFAQ" Payments System, which is operated by the Gulf Payments Company (GPC) and owned by the GCC Central banks.

In a statement on Tuesday, the CBUAE said the move was "in line with its strategic objectives of shaping the future of the UAE's financial technology and digitization journey".

(Reporting by Nayera Abdallah; Writing by Tala Ramadan)

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