Finablr Re-Branded WizzFinancial to Acquire Bahrain Financing Company

Finablr Re-Branded WizzFinancial to Acquire Bahrain Financing Company

BFC Bahrain is a leading money transfer and currency exchange company in Bahrain. The acquisition creates a regional powerhouse with licences to operate in over 30 countries.


 

BFC Group’s Managing Director and CEO Ebrahim Ezra Nonoo will join WizzFinancial and lead its international money transfer business with activity in 170 countries. The deal creates one of the largest remittance services and currency exchange groups in the Mena region and the operator with a direct presence in all six GCC countries.


 

BFC Group specialises in global money transfers, foreign exchange and wholesale currency services and has a network of 120 retail branches throughout Bahrain, Kuwait, and India. BFC Bahrain was founded in 1917 and has been active in the remittance market since the 1970s with 50 strategically located branches across the Kingdom of Bahrain. The companies are respectively licensed by the Central Bank of Bahrain, Central Bank of Kuwait and the Reserve Bank of India, and specialise in money transfers, Retail FX, Payment Services and Wholesale Currency Services.


 

Prism Group AG, together with its partner Royal Strategic Partners, recently acquired the Finablr group of companies. As part of the acquisition, Finablr was rebranded as WizzFinancial. The group includes over 5,000 employees, relationships with 140