Qatar Central Bank to launch instant payment service 'Fawran' in March.
Event Location
Qatar, Qatar
Start Time
29 February 2024, 12:00 AM
End Time
31 March 2024, 12:00 AM
Qatar Central Bank (QCB) has called on the local banks to adjust their status as part of its preparations to launch the instant payment service (Fawran) in March 2024. The service is within the QCB's pioneering and innovative initiatives in the fields of payment and digital transformation in Qatar.
It is in alignment with the 3rd Qatar Financial Sector Strategy (FSS) and a complement to the QCB's efforts aimed at upgrading the payment infrastructure systems and keeping up with the latest developments in electronic payment and funds transfer systems.
Fawran features:
Instantly send and receive funds
Simplify transactions by using alternative identifiers, such as your mobile phone number, in place of an IBAN
Access the service 24/7, without interruption
Qatar central bank news
