The Central Bank of Oman (CBO) has joined the “AFAQ” Payments System, operated by the Gulf Payments Company (GPC) and owned by the GCC Central Banks.
AFAQ is a regional payments system provided by Gulf Payments Company in cooperation with the Saudi Central Bank to execute financial transactions in GCC local currencies.
Financial transactions were successfully executed between the CBO and the participant GCC banks.
Bank Muscat and Bank Dhofar are considered as the first commercial banks from Oman to join “AFAQ”, bringing the total number of…
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