The Central Bank of the UAE has joined the Gulf Payment System (Afaq), operated by the Gulf Payment Company, which is owned by the central banks of the GCC countries. The UAE bank stated in a statement: "This step aligns with its strategic goals to shape the future of financial technology and digital transformation in the UAE, by supporting projects and initiatives focused on innovation and payment systems to provide secure and instant payment platforms, and enhance integration with the regional payment framework."
Title: UAE Central Bank Joins Gulf Payment System
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