Welcome to GCCNET

The GCCNET is a single ATM network linking all the GCC National Switches. It offers numerous features, kept with standards of similar International Networks.A notable aspect is the availability of this ATM switching facility at a reasonable fee. Further, it decreased the margin of exchange rates between the GCC currencies, account settlement between the member countries are conducted in those countries' own currency, without the need for opening a non-GCC currency account.

UAE SWITCH "United Arab Emirates"

The UAESWITCH operates as a cost center within the Central Bank of the UAE. It came into operation on 13/07/1996. It connects 39 banks operating in the UAE and is also connected to the ATM networks of all other GCC countries. The Oman network is also connected to the Qatar network through UAESWITCH.

Inter-bank settlement is performed by the UAESWITCH. Settlement is carried out daily on a net basis, and all inter-bank disputes are co-ordinated by UAESWITCH.

UAESWITCH provides cash withdrawal and balance enquiry services through some 990 ATMs in the UAE, in addition to all ATMs of other GCC Networks. It operates at an average rate of 45,000 transactions per day.

It is proposed that the UAESWITCH will also establish a national POS infrastructure. This is currently under development.