Under Secretary of the Central Informatic Organisation (CIO) Ahmed Ateyattela Al-Khalifa and the Benefit Company have signed a Memorandum of Understanding (MoU) to facilitate the launching of the E-Purse within the National Smart Card in Bahrain during 2004.
With its launch, residents of the Kingdom will become one of the world most advanced technological populations. The Smart Card will carry combined data from the present Central Population Register (CPR) card, drivers license and passport and ID details. It will also include information related to the cardholders’ health records, banking details, education file and fingerprints.
Card holders will be able to use the new Smart Card for a wide range of financial transactions such as bill payments, money transfer, balance inquiry and cash withdrawals. Distribution of the Smart Cards will begin in 2004 and they will be used in conjunction with the current documentation until fully integrated.
Only one other country in the World is currently using this technology but it is anticipated that soon it will become a global system, thus easing further the future of business and personal transactions.
The Benefit Company was established in 1997 as a joint venture between seventeen of Bahrains commercial banks. Benefit is licensed by the Bahrain Monetary Agency (BMA) to offer ancillary services in the financial sector and is widely known for managing the national ATM switching system.
This system has since been expanded to encompass GCC-wide, cross-border ATM sharing under the GCCNET arrangement as well as the switching of local debit card transactions at point of sale counters, AMEX cash withdrawal transactions, and Bill Payment Services. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
