BAHRAIN has become the first GCC country to allow the non-financial institutions to carry out money transfer businesses by utilising the post offices across the Kingdom, writes Mehmood Rafique.
This was announced at a Press conference addressed by Jamal Hijres, AGM Retail Banking, Shaikh Bader bin Khalifa Al Khalifa, Director of Postal Services, Hatem Suliman, business development manager Western Union, FSI, Duabi and Dr Khalid Abdullah, AGM business development division.
The BBK-Western Union Money Transfer service will be available by March 1. The BBK, as sub-agent of the Western Union, has extended its certification to the four designated post offices each in Manama, Muharraq, Isa Town and Budaiya to offer the money transfer services.
The new money transfer service is a result of concerted efforts of BBK and the Western Union to enhance the client base by using the post offices in Bahrain. This is the first-of-its-kind initiative that means that customers can now receive money in minutes via a network of over 190,000 agent locations across the 195 countries and territories worldwide.
Shaikh Bader Al Khalifa said that the new service was a result of the directives of the Minister of Transportation, Shaikh Ali bin Khalifa Al Khalifa. "Shaikh Ali is very keen to see the best possible services at all levels and the BBK-Western Union service is just one example of various services and products to be made available in future. We look forward to have such more initiatives in order to make the services even better," Shaikh Bader added.
"We have been in discussions for over two years and now the dream has become reality as the Bahrain Monetary Agency (BMA) has agreed to grant a licence to launch the new money transfer service. The BBK-Western Union Service will target the Asian, South Asian, Philippines and other major expatriate communities in Bahrain.
Jamal Hijres said that BBK would continue to offer the innovative services for its clients. "The BBK has always stood true to its belief in providing customers with the best service. This is closely translated in the bank's relationship with Western Union," he said.
Dr Khalid Abdullah said that the BBK would remain committed to offer the best possible services to its client-base.
Hatem Suliman said that Western Union was greatly indebted to the BBK and the BMA for their co-operation and assistance in this project.
Bahrain Tribune 2005
