Central Banking

Bahrain to revamp payment system

The Central Bank of Bahrain (CBB), formerly the Bahrain Monetary Agency (BMA), is in the process of revamping the national payment system, Trade Arabia reported.

The Real Time Gross Settlement (RTGS) system will also take in retail fund transfers on behalf of banks' customers, it said. The CBB will also implement Securities Settlement System (SSS), which will facilitate real-time, online settlement of all Government securities transactions.

"The implementation of the RTGS and SSS systems will b

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