QNA
Doha
The Qatar Central Bank (QCB) has launched the new Real-Time Gross Settlement System (QA-RTGS), in line with the Third Financial Sector Strategy, and as a continuation of QCB’s ongoing efforts to develop the payment systems infrastructure in the State of Qatar to keep pace with the latest technical developments.
This system is part of the pioneering initiatives that QCB is working on to upgrade the payment and financial transfer system in the country, as it represents a qualitative shift in Qatar’s financial infrastructure, which increases the flexibility and efficiency of the financial system.
The Real-Time Gross Settlement System plays a vital role in Qatar’s banking sector, as it is the core banking system that processes and settles financial transactions between banks directly.
It complies with the latest international messaging standards ISO20022 to enhance technical integration between banks. page 11
