KUWAIT: 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. The launch of this service in the Weyay app reflects its ongoing commitment to providing innovative banking solutions that meet the needs of customers, especially in the Gulf region, and enhances its position as a pioneering digital bank in providing digital banking services that are characterized by saving time, effort, and flexibility.
Amal Al-Duwaisan, Head of Weyay Bank, mentioned, "We always strive to provide banking solutions in the field of digital innovation in line with our customers’ needs, which in turn emphasizes on Weyay’s position as the first digital bank in Kuwait.” She also added, "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.”
"AFAQ” is set to transform how users engage with digital payments. Weyay Bank, through the new "AFAQ” service, not only does meet the evolving needs of its customers, but it also shapes the future of cross-border payments within the GCC. All information about the digital services and features provided by Weyay Bank can be found on its website www.weyaybank.com or in the Weyay app that can be downloaded from the App Store or Google Play Store.
Weyay is the first digital bank in Kuwait, providing an innovative and 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 contributes to facilitating the lives of its customers by providing fast and efficient services.