AlB-Bahrain inks agreement with Eazy Financial Services

Source24×7 News
SectorFinancial Markets

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 more...