Business leaders call to scrap fragmented payments to boost UK-Gulf trade

LONDON: Fragmented payment systems and divergent regulations are preventing the UK and GCC from unlocking the full potential of cross-border trade, business leaders said at the UK-GCC Strategic Dialogue. Calling for closer cooperation between regulators to develop common standards and make payments between Britain and GCC countries faster and easier, KNET CEO Esam Alkheshnam said even straightforward transactions faced obstacles. He cited differences in the permitted purposes of instant payme

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