AlRayan Bank has successfully integrated with the Qatar Central Bank’s new Real-Time Gross Settlement system (QA-RTGS) through a partnership with ProgressSoft. This integration is part of the bank’s strategy to comply with regulatory requirements and leverage advanced technologies for enhanced banking services.
The integration involved implementing ProgressSoft’s Payments Hub RTGS Module, which allows real-time settlement of high-value interbank transactions. The solution is designed to handle increasing transaction volumes without disrupting services, aligning with Qatar Central Bank’s initiatives to strengthen the country’s financial ecosystem.
Fahad bin Abdullah Al Khalifa, Group CEO of AlRayan Bank, emphasized the bank’s commitment to technology and innovation: “By embracing advanced technologies and aligning with Qatar Central Bank’s innovative initiatives, we continue to enhance the efficiency, security, and reliability of our services. This achievement underscores our commitment to supporting Qatar’s financial ecosystem and empowering our clients with seamless, real-time banking experiences.”
The implementation includes robust security standards such as ISO 20022 for secure transaction data handling and improved customer service efficiency. Amjad Zawyani, ProgressSoft Qatar’s Country Manager, expressed pride in their collaboration: “We are honored to collaborate with AlRayan Bank on the successful integration with QA-RTGS. This achievement highlights our shared commitment to innovation and excellence in advancing Qatar’s financial infrastructure.”
Both AlRayan Bank and ProgressSoft aim to support Qatar’s financial transformation by setting new benchmarks in banking sector efficiency, security, and reliability.
