Kuwait Finance House (KFH) announced that its AFAQ service has seen strong demand. The service, which is available on KFHOnline, enables customers to instantly transfer funds from their accounts to participating GCC banks. This reflects the significance of the service and the efficiency of the digital solutions offered by the Bank. It also highlights the capacity of these offerings to meet customers' aspirations for cross-border services that are secure, fast, and accessible 24/7.

By using AFAQ service through KFHOnline, customers can instantly transfer funds for a flat fee of KD 2 per transaction, regardless of the transfer amount, without additional charges from the beneficiary bank. Moreover, this service allows customers to make transfers with ease through clear, simple steps and the highest security standards.

The new service offered by KFH aligns with the Central Bank of Kuwait's vision to enhance GCC currency transactions and expedite money transfers. It also supports instant money transfer among customers in the GCC countries.

To benefit from the service, KFHOnline users can navigate to the financial transfers page on the app and choose the “Other Banks Transfers Status” option. They can then select a previously added beneficiary and click the “transfer through AFAQ” option. This option will only be activated if the beneficiary is on the list of the GCC banks participating in the service.

The success of this service and the strong demand for it affirm KFH’s leading role in banking and digital innovation. This initiative demonstrates its dedication to enhancing customer experience and advancing the international bank transfer service to a new level of speed, accuracy, and security. By utilizing the fastest technical means and quick payment solutions that meet the highest quality standards, KFH is boosting financial and trade exchanges, as well as cooperation across the GCC nations.