Benefits of AFAQ:

• Unified operational rules and regulations
• Low service fees
• Instant transfers
• Reduced financial and operational risks
• Efficient liquidity and settlement management

• Kuwait Finance House customers can benefit from AFAQ to send international transfers to participating banks in the GCC via KFHOnline.

For more information on AFAQ, please visit the page to view the list of participating and eligible banks, click here.

* Currently, financial transfers are available for Bahrain, Saudi Arabia, Oman, and Kuwait (Qatar coming soon).

What are the main objectives of AFAQ?

• To establish and develop a robust infrastructure for Gulf payments., and provide advanced, attractive financial payment services in a secure, stable, and low-cost environment.
• To offer a system that links payment and settlement networks across GCC countries for instant financial transfers and settlements.
• To collaborate with the banking sector and financial institutions, provide research and proposals in the field of payment systems, and respond to evolving payment service requirements in the GCC.

Who benefits from AFAQ services?

• Individuals (citizens and residents of GCC countries)
• Retail businesses
• Corporates and wholesale partners

What type of network does AFAQ use?

• AFAQ operates via a private network that connects all participating banks. This network ensures secure money transfers between members.

Does AFAQ use the SWIFT system?

• No, AFAQ uses a dedicated private network and a closed technical infrastructure.

What network infrastructure does AFAQ rely on?

• AFAQ operates via an MPLS-VPN private network.

Which standards does AFAQ follow?

• AFAQ follows ISO 20022 standards.

What types of payment messages does AFAQ support?

• Customer payments
• Financial institution payments