In a new step to improve its financial services and expand its regional scope, Weyay Bank announces the launch of the “AFAQ” service, which is a qualitative leap in the field of bank transfers between the countries of the Gulf Cooperation Council. “AFAQ”, by connecting the payment systems of the Gulf countries, enables financial transfers in the local currency of these countries faster and at a lower cost compared to the traditional methods normally used in transfers.
“AFAQ” is a regional payment system provided by the Gulf Payments Company which aims to facilitate financial transfers in the local currencies of the Gulf countries instantly and at low rates with a high level of privacy and information security. Customers can make transfers to any of the participating Gulf banks “AFAQ” effectively without having to worry about currency fluctuations or transfer delays.
Amal Al-Duwaisan, Head of Weyay Bank, said: “We always strive to provide banking solutions in the field of digital innovation according to the needs of our customers, which in turn emphasizes Weyay's position as the first digital bank in Kuwait. We are proud to be a participant of the “AFAQ” system, which contributes to improving economic cooperation and the financial integration strategy between the GCC countries as well as providing an immediate transfer service to our customers at competitive prices while n ensure the highest standards of safety.”
Weyay is the first digital bank in Kuwait, providing its customers with a convenient banking experience through an advanced digital platform. With the introduction of “AFAQ”, Weyay Bank continues its commitment to provide banking solutions that keep pace with the evolution of the digital age and contribute to facilitating the lives of its customers by providing fast and efficient services.
“Weyay Bank launches “AFAQ” for instant bank transfers between GCC countries” was originally created and published by International Electronic Paymentsbrand owned by GlobalData.
The information on this website is included in good faith for general information purposes only. It is not intended to be advice on which you should rely, and we make no representation, warranty or guarantee, express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action based on the content on our website.