News

Bahrain, Iran to link ATM networks

May 17, 2004

MANAMA, Bahrain - ATM networks in Bahrain and Iran are to be linked, enabling customers to have direct access to their accounts from the two countries.

According to a Gulf Daily News report, an agreement to establish ATM links between the two countries was recently finalized at the Bahrain Monetary Agency (BMA). It was signed by BMA banking services director Shaikh Salman bin Ahmed Al Khalifa and Bank Markazi Jomhouri Islami Iran payment systems department director Mehran Sharifi.

Bahrain is the first country to establish ATM links with Iran. The move will enable Bahrain residents to use their ATM cards in Iran to make cash withdrawals and to check their account balances. Iranian citizens will, similarly, be able to use their bank cards in Bahrain.

"We are delighted to sign this agreement, which will have a significant impact on enhancing the strong business and tourism ties between our countries," said BMA banking operations executive director Waleed Rashdan. "The linkage with Bahrain will also facilitate the establishment of ATM linkages between Iran and other GCC (Gulf Cooperative Council) countries, through Bahrain."