QCB expands instant payment options with ‘FAWRAN’ service for corporates

In a move to improve instant payment services and expand retail payment options in Qatar, the Qatar Central Bank (QCB) has introduced the “FAWRAN” service. This service enables corporate entities to register in the “FAWRAN” system using corporate identifiers like establishment ID, commercial registration, and commercial licence.This new service is part of QCB’s efforts to provide efficient and real-time payment solutions for businesses in the country, supporting the advancement of the financial infrastructure. The banks participating in the service are Qatar International Islamic Bank, Commercial Bank, Masraf Al Rayan, Doha Bank, Dukhan Bank and Ahli Bank.