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EFTS introduced in Bahrain

The Central Bank of Bahrain, in cooperation with the Benefit Company, has officially launched the electronic fund transfer system (EFTS) in Bahrain. The service, which was officially debuted in November is a highly anticipated combination of services aimed at improving the efficiency and usability of different financial processes. The central bank, Benefit and retail banks have worked tirelessly over the past months to provide a revolutionary system to individuals, public sector, private sector and government entities that will compete on a global level. The system interconnects all retail banks in Bahrain with each other and major billers in the kingdom in order to enhance the efficiency of fund transfers and bill payments. The system will enable banks, individuals, corporations, and government sectors to benefit from the renovated accessibility and ease of retail banking.

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