Weyay Bank launches “AFAQ” for instant bank transfers between GCC countries
In a new step to enhance 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 Gulf Cooperation Council countries. “AFAQ”, by linking the payment systems of the Gulf countries, enables financial transfers in the local currencies of these countries to be made faster and at lower cost compared to the traditional methods usually used in transfers.
“AFAQ” is a regional payment system provided by the Gulf Payments Company that 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 Gulf banks that are “AFAQ” participants effectively without having to worry about currency fluctuations or delays in transfers.
Amal Al-Duwaisan, Head of Weyay Bank, said: “We always strive to provide banking solutions in the field of digital innovation in line with our customers’ needs, which in turn emphasises on Weyay’s position as the first digital bank in Kuwait. We are proud to be a participant of the "AFAQ" system, which contributes to enhancing economic cooperation and the monetary integration strategy between the GCC countries as well as to providing an instant transfer service to our customers at competitive prices while ensuring the highest standards of security.”
Weyay is the first digital bank in Kuwait, providing a convenient banking experience to its customers through an advanced digital platform. With the introduction of “AFAQ”, Weyay Bank continues its commitment to providing 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 Electronic Payments International, a GlobalData owned brand.
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