New deal with BFC and BEC aim to make money transfers easier for GCC customers
Dubai: Al Ansari Financial Services PJSC has expanded its regional cross-border payments network through new partnerships between its subsidiaries in Bahrain and Kuwait and global money transfer company Western Union.
The agreements with Bahrain Financing Company (BFC) in Bahrain and Bahrain Exchange Company W.L.L. (BEC) in Kuwait will give customers wider access to Western Union's international money transfer services, covering more than 200 countries and territories.
In Bahrain, customers will be able to use Western Union services through BFC's network of 54 branches across the country. In Kuwait, BEC customers can access the service through 53 branches, including outlets at Kuwait International Airport.
The expansion comes as demand for international payment services continues to grow across the GCC, driven by increased movement of people, expanding business links and the importance of remittances for individuals, families and companies.
Through the partnerships, customers will benefit from faster transactions, improved digital services and easier access to secure international transfers through established local financial brands.
Mohammad Bitar, Deputy Group Chief Executive Officer of Al Ansari Financial Services, said the partnerships support the group's regional growth plans by strengthening the services offered by its subsidiaries.
"By combining the trusted local presence of BFC and BEC with Western Union's extensive global network, we are enhancing our remittance services while providing customers with greater convenience, accessibility and choice when transferring money internationally," he said.
Nicolas Levi, Regional Vice President and Head of Middle East, Pakistan and Afghanistan at Western Union, said the expanded cooperation would help customers send money internationally through reliable and convenient channels.
"By combining Western Union's global money transfer network with the strong local presence of BFC and BEC, we are making it easier for customers to connect with their families across the world," he said.
The latest partnerships are part of Al Ansari Financial Services' wider strategy to strengthen its regional financial services platform and improve access to international payment solutions across GCC markets.
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