Book traversal links for 2.2. Purpose
2.2. Purpose
No: 42068309 | Date(g): 5/5/2021 | Date(h): 24/9/1442 | Status: In-Force |
Effective from 2021-05-05 - May 04 2021
To view other versions open the versions tab on the right
With the aim of Facilitating cross-border payments in the region, providing essential infrastructure to enable the on-going integration of financial markets across the GCC region, utilizing the advantages of real- time gross settlement, Encouraging closer financial and economic integration between the GCC countries; SAMA has implemented a Specific Model in which functions of the Domestic RTGS system for both Sending & Receiving cross-border payments will be performed at the AFAQ Service ‘s Central Component hosted technically by the Gulf Payments Company (GPC); While controlled, supervised & operated by SAMA according to the operating Rules.