Qatar Islamic Bank Introduces Host-to-Host Payment Management System Enabling Fully Automated Transactions

Qatar Islamic Bank (QIB) announced the launch of its online payment management solution for large corporate clients, with the fully automated service allowing for greater ease, safety and speed of transactions.

A statement released by QIB indicated that it’s the first Islamic bank to fully enable automated transactions supported by enterprise resource planning (ERP) systems. The system, which operates using a host-to-host framework encrypts all data in transit.

Tarek Fawzi, QIB’s Wholesale Banking Group General Manager, noted that the new system was appropriate for payments of all sizes. QIB added that the solution is suitable for large corporates with the need to process large volumes of payments on a regular basis as it will eliminate any chance of huma...