Central Banking

Bahraini central bank launches ‘almost real-time’ payments

Central Bank of Bahrain

The Electronic Fund Transfer System (EFTS) in Bahrain delivers an "almost real-time" payments service, according to the country's central bank, which officially launched the system on December 13.

The EFTS, incorporating three different services, actually went live on November 5. It is designed to connect all retail banks with each other and "major billers" in the country, and will run 24 hours a day, seven days a week, 365 days a year.

The first service, Fawri+, allows individuals or entities

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