Doha, Qatar: AlRayan Bank, in partnership with ProgressSoft, is pleased to announce its successful integration with Qatar Central Bank’s (QCB) new Real-Time Gross Settlement system (QA-RTGS).

The successful integration aligns with the bank’s commitment to fully complying with QCB’s latest regulatory requirements and adopting the latest technologies to deliver faster, more secure, and more reliable banking services for its clients, while fully supporting QCB’s visionary initiatives to strengthen Qatar’s financial ecosystem.

The integration was achieved through the implementation of ProgressSoft’s Payments Hub RTGS Module, facilitating the settlement of high-value interbank transactions in real time, and providing a secure, efficient, and scalable solution capable of managing growing transaction volumes with zero disruption to its banking services.

Mr. Fahad bin Abdullah Al Khalifa, Group CEO of AlRayan Bank stated: “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 is fortified with robust security standards, including ISO 20022, to safeguard transactional data and enable secure high-value payment capabilities. It also enhances customer service efficiency and the ability to meet the evolving needs of the market in a reliable and scalable approach.

“We are honored to collaborate with AlRayan Bank on the successful integration with QA-RTGS,” said Amjad Zawyani, ProgressSoft Qatar’s Country Manager. “This achievement highlights our shared commitment to innovation and excellence in advancing Qatar’s financial infrastructure.”

Together, AlRayan Bank and ProgressSoft remain committed to supporting Qatar’s ongoing financial transformation, setting new standards for efficiency, security, and reliability in the banking sector.

About AlRayan Bank

Masraf Al Rayan QPSC (AlRayan Bank) stands as a leading Islamic financial institution originating from Qatar with a global reach that extends to the United Kingdom, France, and the United Arab Emirates. Managing assets of circa QAR 165 billion, the bank is renowned for its comprehensive suite of solutions that are compliant with Islamic Sharia law, overseen by specialized regulatory bodies.

The bank's services include corporate banking, SME banking, personal and private banking, asset management, financial consulting, and treasury and institutional services. AlRayan Bank has set benchmarks in sustainable Islamic financing, launching Qatar’s first green deposit and the inaugural program for sustainable Islamic finance, thereby supporting the country's transition towards environmental sustainability.

Proud of its extensive network, AlRayan Bank operates 13 branches and 103 ATMs strategically placed across Qatar's key locations, including commercial centers, traditional markets, and business districts. The bank continues to provide exceptional banking services around the clock through its advanced digital platforms and mobile app, enhancing the modern and comprehensive banking experience for its clients.

About ProgressSoft Corporation

ProgressSoft Corporation is a leading provider of real-time payment and financial solutions tailored to the needs of the financial sector.

Founded in 1989, ProgressSoft’s commitment to innovation, quality, and customer satisfaction has earned it a loyal customer base of more than 370 banks, central banks, payment service providers and financial institutions in 25 countries.

ProgressSoft offers a suite of payment and financial solutions that cater to the evolving needs of financial institutions. These solutions include instant payments, payments hub, digital banking, electronic know your customer and electronic check solutions. This is in addition to buy now pay later, electronic bill payments and presentment, and automated clearing house among others.

Today, ProgressSoft is a globally trusted and reliable partner for automating and enhancing the efficiency of payment, clearing, settlement and financial systems, with its solutions recognized for their excellence in innovation and efficiency.

For more information visit www.progressoft.com