QIIB first Qatari Islamic bank to launch ‘SWIFT gpi’ payment system
March 08 2020 08:07 PM
QIIB head office in Doha
QIIB head office in Doha

QIIB has launched the ‘SWIFT gpi’ payment system, thus becoming the first Islamic bank in Qatar to use the system.
‘SWIFT gpi’, which is one of the latest global systems in the field, provides high-tech features and the possibility to track internal and external payments in real time until their completion.
The Swift gpi system also provides “transparency and speed” allowing customers to know the foreign currency exchange rates and all fees related to their transfers, which can be completed with more speed and accuracy.

Mohamed Khair Barhoumah

Moreover, the system provides “great flexibility” to the customer concerned who can now follow his / her money transfers with all details such as time, date, place, country and commission, with acknowledgment of receipt in the recipient’s account.
One of the most important features of the SWIFT gpi system is that it allows many payments to be made in a matter of seconds and more than half to be made within 30 minutes while all transfers, without exception, to be made within maximum 24 hours, providing transparent information that allows customers to follow every step.
On QIIB launch of the SWIFT gpi system Mohamed Khair Barhoumah, chief operations officer said, "At QIIB, we are proud to be the first to use the best technological solutions that provide high-quality banking experiences throughout the various stages of the work. We put our customers’ interest on top of our priorities. That is why we seek to develop our various work mechanisms and systems in order to meet our customers’ aspirations".
He said, "The new system provides a high level of transparency and performance that allows payments to be done in multiple currencies and various countries in a smooth and fast manner without the need for complicated tracking procedures, whether in the source country or the destination country".
"Experiences from using the SWIFT gpi system in many countries proved that it is a reliable and transparent system and that it meets all the standards required by the modern banking industry in terms of quality, efficiency, enrichment of customers’ experience and safeguard their interests in the best possible way ".
"The SWIFT gpi system is a qualitative value addition to the payment services that we provide to our individual and corporate customers. We have previously received many awards that recognise the quality of our work in the payments field and the professionalism of our staff. Therefore the use of the new system will allow us to provide another level of quality to our customers,” Barhoumah added.

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