Bahrain Financing Company (BFC), the oldest money transfer and foreign exchange group in the Kingdom, has announced the launch of the 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, said a BFC statement.

Commenting on the launch, 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 is a world-class service that is convenient, instant and great value-for-money and also 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,' he remarked.

According to him, the 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, said Nonoo.

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.

Interested customers can register online (www.bfcsmartmoney.com) or visit any BFC shop in Bahrain, the BFC said in its statement.

They can complete the registration process by showing their valid dentification. Once the registration is done, BFC will forward the login details to the customer’s email, activating the Smart Money services instantly, the statement added.

For the registration, BFC has set up a dedicated 'Smart Money' stand at its Bahrain City Centre branch, featuring an informational demo to take interested customers through the online registration process.-TradeArabia News Service