The Central Bank of Bahrain (CBB) has overseen the signing of a pivotal partnership agreement between Bahrain’s payment network operator, Benefit, and NPCI International Payments (NIPL), the international arm of the National Payments Corporation of India (NPCI).
The landmark collaboration will link Bahrain’s existing Electronic Fund Transfer System (EFTS), specifically the popular Fawri+ service, with India’s highly successful Unified Payments Interface (UPI).
This integration will enable residents in both countries to make instant, secure, and seamless cross-border payments and transfers, significantly strengthening financial integration between the two nations.
The signing ceremony, held at the CBB headquarters, was attended by CBB executive director of central banking and macroprudential oversight Hesa Abdulla Al Sada, and the RBI’s chief general manager-in-charge of payment and settlement systems Gunveer Singh.
Benefit chief executive Abdulwahed Al Janahi and NIPL managing director and chief executive Ritesh Shukla formalised the agreement.
The joint endeavour aligns with the CBB’s strategic mandate to provide advanced payment services, enhance regional and international financial integration, and boost Bahrain’s global economic competitiveness in line with global digital trends.
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