AlB-Bahrain inks agreement with Eazy Financial Services

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