Moody
August 25th, 2005, 08:22 PM
Benefit connects Iran, Bahrain ATMs
Automated Teller Machine (ATM) networks of Bahrain and Iran have been linked, enabling customers of each country to have direct access to their accounts from the other country.
The linkage was activated last Monday following tests, making Bahrain the first country to establish ATM links with Iran. Customers can now use their bank cards, check their account balances and make cash withdrawals from their bank accounts in either country.
"We are proud to see this important new addition to our services," said Benefit Company general manager Abdulwahid Janahi. "This successful project is a tribute to our partners in Iran and to our team.
"We would also like to thank the Bahrain Monetary Agency for their continuous support for this and other projects. "This new service will be a great convenience to the public as it will reduce the need to carry cash when they are travelling to Iran and vice versa.
"They will be able to go to any ATM and withdraw cash as they would do at home." Following the signing of the agreement, the ATM switch operators of the two countries, namely the Benefit Company in Bahrain and Iran's Informatics Services Corporation (ISC), began work on implementing the project.
"Our team at Benefit has carried out a number of tests to ensure a high speed, safe, secure and cost effective connection that ensures the smooth transfer of payments across borders," said Janahi.
"As well as connecting Bahrain and Iran, this initiative gives other GCC countries a window of opportunity to expand their service to Iran through the Benefit switch in the future," he added.
"Benefit is already connected to the ATM Switches in the other GCC countries and in addition the ATM cardholders in Bahrain also have the facility to withdraw cash from ATMs in Jordan, Lebanon and Egypt."
Central Bank of Iran Payment Systems Department director Mehran Sharifi said this was a major milestone in the development of banking services between both countries. "We have very close ties with Bahrain and its banking system," he said.
The Bahrain-Iran ATM link uses a satellite link, in a highly secure environment. This is the latest communications technology, rather than land lines
Automated Teller Machine (ATM) networks of Bahrain and Iran have been linked, enabling customers of each country to have direct access to their accounts from the other country.
The linkage was activated last Monday following tests, making Bahrain the first country to establish ATM links with Iran. Customers can now use their bank cards, check their account balances and make cash withdrawals from their bank accounts in either country.
"We are proud to see this important new addition to our services," said Benefit Company general manager Abdulwahid Janahi. "This successful project is a tribute to our partners in Iran and to our team.
"We would also like to thank the Bahrain Monetary Agency for their continuous support for this and other projects. "This new service will be a great convenience to the public as it will reduce the need to carry cash when they are travelling to Iran and vice versa.
"They will be able to go to any ATM and withdraw cash as they would do at home." Following the signing of the agreement, the ATM switch operators of the two countries, namely the Benefit Company in Bahrain and Iran's Informatics Services Corporation (ISC), began work on implementing the project.
"Our team at Benefit has carried out a number of tests to ensure a high speed, safe, secure and cost effective connection that ensures the smooth transfer of payments across borders," said Janahi.
"As well as connecting Bahrain and Iran, this initiative gives other GCC countries a window of opportunity to expand their service to Iran through the Benefit switch in the future," he added.
"Benefit is already connected to the ATM Switches in the other GCC countries and in addition the ATM cardholders in Bahrain also have the facility to withdraw cash from ATMs in Jordan, Lebanon and Egypt."
Central Bank of Iran Payment Systems Department director Mehran Sharifi said this was a major milestone in the development of banking services between both countries. "We have very close ties with Bahrain and its banking system," he said.
The Bahrain-Iran ATM link uses a satellite link, in a highly secure environment. This is the latest communications technology, rather than land lines