Bloomberg/Phil Weymouth


Bahrain Clear joins BENEFIT’s EFTS System

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BENEFIT’s Electronic Fund Transfer System (EFTS) will allow investors, brokers as well as custodians and issuers to pay fees and commissions of all services provided by Bahrain Clear, efficiently and in a secure manner.


Bahrain Clear (BHC) has signed a cooperation agreement with BENEFIT, the leading electronic transactions company, under which Bahrain Clear will join the EFTS, according to local newswire, Bahrain News Agency.

The collaboration will allow EFTS to be available to the public through Fawateer’s service on all e-banking platforms and BENEFIT seeks to provide ancillary services for the financial sector in the Kingdom of Bahrain.

Shaikh Khalifa bin Ebrahim Al Khalifa, the Vice Chairman and Managing Director of Bahrain Clear, said that Bahrain Clear had opted to adopt the EFTS in order to streamline all payments and facilitate the payment process for all investors, brokers and issuers.

BENEFIT offers a wide range of electronic services that support the shift to electronic financial payments and transfers which contributes to serving the business sector, saving time and money, added Abdulwahed AlJanahi, the Chief Executive Officer of BENEFIT.

TAGS : BENEFIT, Bahrain Clear , Bahrain Bourse , EFTS

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