Qatar Central Bank (QCB) has launched a new real-time gross settlement system (QTGS). The new reform of the QCB is a precursor to the goals of further simplifying and developing payment systems in Qatar and keeping up with new technologies.

The real-time gross settlement system plays an important role in Qatar’s banking sector. This is because it is the core banking system where financial transactions between banks are directly processed and settled. The new system has been implemented by the QCB to upgrade the country’s payment and financial transfer system and promote the country’s financial security.

The system aims to improve the efficiency and speed of money transfer management between banks in Qatar, increase operational efficiency and make the banking system even easier. The system ensures enhanced security and transparency at all stages of settlement and facilitates instant settlement of transactions between banks.

The real-time gross settlement system enhances the strength of the financial system, manages liquidity and risks in banks, and enhances the confidence of dealers and shareholders in the banking and financial sectors.