BFC introduces Bahrain's first dedicated online remittance service

Press release
Published January 24th, 2011 - 12:08 GMT

Bahrain Financing Company (BFC), the Kingdom’s oldest and most reputed money transfer and foreign exchange group, today announced the launch of Bahrain’s first dedicated online remittance service, Smart Money. Offering the most competitive exchange rates, the service allows customers to securely transfer money online, to anywhere in the world. 

Commenting on the launch of the online remittance service, Mr. Ebrahim Nonoo, Managing Director and CEO of BFC Group Holdings said, “As a trusted source with more than 90 years of experience, we constantly strive to pioneer new financial tools and services for our customers. Smart Money, a world-class service that is convenient, instant and great value-for-money, makes it extremely easy for expats to transfer funds back home. The service offers flexibility of time and place combined with the most competitive rates in comparison to most other banks in Bahrain.” 

“Keeping with the company’s strategy and vision for future growth in the digital arena, we continue to seek new and innovative electronic mechanisms for providing one-stop international payment solutions for our customers. Smart Money is our first step towards e-business implementation in Bahrain and we are confident it will ease the process of remittances for the expatriate population in the Kingdom”, he added. 

BFC’s Smart Money service enables customers to send money safely and securely from their home or workplace while still availing the same great rates offered at retail locations. Wiring money via Smart Money is simple and requires just four easy steps to get started. Payments can be made easily using most locally issued Mastercard and Visa debit cards. 

To benefit from this fast, convenient and cost effective service, customers have to register online ( or visit any BFC shop in Bahrain. They are required to complete the registration process by showing their valid identification. Once the registration process is complete, BFC will forward the login details to the customer’s email, thus activating the Smart Money services instantly. 

To assist customers with the registration process, BFC has set up a dedicated stand for Smart Money at its Bahrain City Centre branch, featuring an informational demo to take interested customers through the online registration process. 

Every care has been taken to ensure that BFC Smart Money is a secure service. Secured by VeriSign, the trusted provider of Internet infrastructure services for the networked world, the service ensures that financial transactions processed through the system are highly secure and customer information is kept confidential at every stage. In addition, the service offers full transactional history of remittances and status updates on all services 24 hours, 7 days a week. 

As the first foreign exchange company established in Bahrain in 1917, BFC specialises in moving money smartly and efficiently with the best rates in the market. With an extensive global reach covering over 100 countries, BFC offers customers unparalleled service, a vast array of innovative retail products and unbeatable exchange rates.

Background Information

BFC Group Holdings

Bahrain Financing Company (BFC) is the leading Money Transfer and Currency Exchange company in the Kingdom of Bahrain. Whether you’re sending money home to your loved ones or going on holiday and need foreign currency, we have your Money Transfer and Currency Exchange needs covered.

Check out our PR service

Signal PressWire is the world’s largest independent Middle East PR distribution service.


Sign up to our newsletter for exclusive updates and enhanced content