AlB-Bahrain inks agreement with Eazy Financial Services
- Date: 28-Jul-2020
- Source: 24×7 News
- Sector:Financial Markets
- Country:Bahrain
AlB-Bahrain inks agreement with Eazy Financial Services
Manama: Al
Baraka Islamic Bank (AIB-Bahrain), has signed an agent bank agreement whereas AIB-Bahrain
shall operate and acts as a clearing house on behalf of "eazyNet.“
Eazy is an
established Bahraini FinTech Biometric Payment Network Company, for the
provision of Biometric payment settlements that will allow eazyNet to settle
intra Banking switching transactions between eazyNet Member Banks.
Moreover, Al
Baraka Islamic Bank (AIB-Bahrain) has signed earlier back in May 2019 an
agreement by joining "eazyNet“ Biometric Payment Network as a member in eazyNet
to enable their customers facilitating convenient and secured biometric ATM
Cash withdrawals and Biometric POS Transactions.
Through the
Agent Bank Agreement, AIB-Bahrain will process and settle all eazyNet's
financial switch transactions between eazyNet affiliated member banks locally
and cross boarder on daily basis, AIB-Bahrain shall be assigned to operate and
act on behalf of eazyNet to facilitate financial settlements processed by eazyNet
Biometric Financial Switch whereby this Agreement shall give the privilege to
eazyNet to secure and settle amounts in a seamless secured financial manner
between all eazyNet members as currently adapted in the Kingdom of Bahrain and
internationally.
"I am
pleased to announce our new partnership with Easy Financial Services Company in
order to provide this advanced service that will take the Bank to a new stage
in providing electronic financial services not for customers only, but also for
the network's