Tribune News Network
Doha
In a significant move to enhance the banking experience in Qatar, Commercial Bank has announced its support for the "Fawran” initiative on its Corporate Internet Banking (CIB) portal.
This initiative aligns with the Qatar Central Bank’s (QCB) third financial sector strategy aimed at advancing the country’s payment system infrastructure. "Fawran” is designed as an instant local payment solution that promises to revolutionize the banking experience for businesses. It offers several key features, including instant payments that dramatically reduce processing times, round-the-clock accessibility for transactions, and a simplified beneficiary setup that streamlines the payment process.
Highlighting the bank’s commitment to supporting initiatives put forth by the Qatar Central Bank, Commercial Bank Group CEO Joseph Abraham noted that the launch of "Fawran” reflects this dedication and is a vital part of the QCB’s long-term strategic vision, which focuses on delivering faster, more accessible, and customer-centric banking solutions.
Fahad Badar, EGM and chief wholesale and international banking officer, also emphasised the bank’s focus on enhancing the banking experience through innovative solutions. He remarked that the bank aims to ensure that customers have access to services that are both efficient and seamlessly integrated into their financial journeys.
As a leader in the financial sector, Commercial Bank is committed to adopting technology-driven solutions. The introduction of Fawran exemplifies the bank’s agility and forward-thinking approach, positioning it to set new benchmarks in the industry that cater to current needs while anticipating future opportunities.
In conclusion, Commercial Bank’s integration of the Fawran initiative into its Corporate Internet Banking Portal represents a substantial enhancement of the banking experience for businesses in Qatar.
By providing instant, accessible, and user-friendly payment solutions, the bank not only supports the objectives of the Qatar Central Bank but also reinforces its commitment to innovation and customer-focused service. This initiative is a clear indication of the bank’s dedication to leading the financial landscape in Qatar.