Sep 15 2011 |
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KFH-Bahrain introduces IBAN to all customer accounts
Kuwait Finance House - Bahrain (KFH-Bahrain) recently announced that it has implemented the International Bank Account Number (IBAN) system to all customer accounts, which is the internationally accepted ISO standard numbering system to identify Bank accounts. Using the IBAN will result in enhanced efficiency and security of both local and international electronic payments, including telegraphic transfers and standing orders.
KFH-Bahrain customers can now identify their IBAN for each of their accounts by either viewing their account statement on KFH-Bahrain 's E-Banking portal, their September's posted statement of account or by visiting their nearest KFH-Bahrain branch. In order to complete any local or international electronic transactions, customers will be required to use their account's IBAN when making a transaction. Additionally, the customer will need to ensure that their IBAN is used by the sender when they receive electronic payments, both locally and internationally.
Mr. Khalid Rafea, Executive Manager and Head of Banking Group at KFH-Bahrain explained, " KFH-Bahrain is constantly striving to enhance our customers banking experience by providing faster, efficient and more secure services. Customers making a payment transaction will now be required to use their personal IBAN and obtain the IBAN of the recipient in order to conduct electronic payment". He emphasised that the IBAN system is in compliance with the instructions issued by the Central Bank of Bahrain and is in line with the Bahrain Economic Vision 2030.
-Ends-
About Kuwait Finance House - Bahrain
Kuwait Finance House, Bahrain is a leading provider of Islamic commercial and investment banking services. Established in 2002 as a wholly owned subsidiary of Kuwait Finance House (Kuwait) -- an industry leader for more than 30 years --
KFH-Bahrain
specialises in developing and bringing to market the highest quality shari'a compliant banking and investment products and services.
Megan Macleod, Managing Director
WarrenMacleod WLL (PR Consultancy)
Mob: +973 39331823
Fax: +973 77066818
E-mail: megan@wm-me.com
www.wm-me.com
© Press Release 2011
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