CBO participates in Gulf Payments Company board meeting

Riyadh: The Gulf Payments Company (GPC) Board of Directors held its 11th meeting today in Riyadh, the Kingdom of Saudi Arabia (KSA).

The meeting was attended by Tahir Salim Al Amri, the Executive President of the Central Bank of Oman (CBO) and Gulf Payments Company Deputy Director.

The meeting discussed the agenda items, the decision-implementation follow-up report, an update of the articles of association of the Gulf Payments Company and the activities of the Auditing and Review Committee.

The meeting also reviewed AFAQ Payment System, which aims at providing RTGS between GCC central banks, supporting transactions using GCC local currencies, facilitating clearing and financial settlement processes, enhancing merging requirements between financial markets and ensuring speedy, unified and robust monetary transfers to strengthen financial stability in the GCC states.