Bahrain's payment system a success
"For the business community, time is money, and utilisation of the RTGS system can make a profound impact on how they do business and how they manage their cash flows," said Ahmed Buhijji, the central bank director responsible for banking services. "The central bank is committed to ensuring the advancement of Bahrain as an international financial centre, in general, and the efficient functioning of the country's financial markets, in particular."
The RTGS, an online, real-time system allows funds to be transferred instantly. Previously this took between two to four days. The system can process inter-bank and customer requests.
The system has processed BD4.6 billion ($12.2 billion) worth of payments so far.
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