BBK Cash Management accelerates payments for American Express

05 May 2010

Manama, Bahrain: BBK, Bahrain’s pioneer in retail and commercial banking, and American Express Middle East & North Africa (AEME), leader in premium payment solutions, recently announced a new partnership.  BBK will be providing Cash Management services which enables AEME to initiate more streamlined and faster payments to merchants accepting American Express Cards using BBK’s Point of Sale terminals at all locations throughout the Kingdom of Bahrain. In addition, BBK and non-BBK customers can now settle American Express bill payments over-the-counter in all BBK’s Financial Malls and branch locations in Bahrain.

This partly demonstrates BBK’s comprehensive Cash Management suite of services. Innovative domestic and international payments and receivables services are available for efficiently managing the corporate financial supply chain.

Sh. Rashed Al Khalifa, GM – Business Group, BBK said, “Providing innovative solutions like this increases efficiencies and enhances transparency for corporations streamlining their cash management operations. BBK Transactional Banking is dedicated to providing innovative Cash Management and Trade services to our corporate customers. This latest partnership is a testament of our commitment to helping customers better manage their working capital.”

Mr. Mazin Khoury, Chief Operating Officer, American Express Middle East & North Africa said. “This initiative is one of a number of strategic agreements aimed at enhancing the American Express service experience for our Cardmembers and merchant partners. With a wide presence across the country, BBK branches will be an ideal and time-efficient channel for our customers.”

This latest partnership is the result of a team of highly qualified on-the-ground Cash Management subject matter experts who designed, developed and activated an end-to-end solution structure alongside the financial team of experts within American Express.

Mr. Rashad Akbari, Acting AGM-Transaction Banking, BBK added: “BBK Transaction Banking focuses on meeting and exceeding our customers’ needs. Our customers turn to us when they rely on a partner for accurate transaction processing, accelerating reductions in internal treasury operating costs and accessing financial insight to events driving their supply chain. We offer solutions for improving Cash Management practices, facilitating Trade and structuring project finance for businesses.”

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