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FINANCIAL NEWS
Bahrain’s elect fund transfer hits USD1.84bn
01 Dec 2016
(MENAFN) The total value of transactions settled through the elect fund transfer system (EFTS) has reached USD1.84bn after a year from launch.
Furthermore, the fund was launched in co-op with the BENEFIT Co., EFTS facilitates fund transfers among local banks through different elect devices.
Additionally, the EFTS allows retail bank customers to transfer funds, throughout the day, from their bank accounts to recipients” accounts in any other bank amid Fawri service.
Meanwhile, the Fawri service will allow fund transfers such as payment of salaries to a single or multiple recipients, within the same bank business day or future date.
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