Bahrain Islamic Bank Swiftly Ready to Launch Open Banking Services
Bahrain Islamic Bank (BisB) announced the launch of open banking services starting from 1st of July 2019. This is the result of the Central Bank of Bahrain (CBB) and its directive to integrate all retail banks in the Kingdom with FinTech companies. The open banking services features two types of services. The Account Information Service grants customers access to their bank account data from different banks through a single unified platform. The second service entails transfers between different accounts through a single application. According to BisB CEO Hassan Jarrar, Open Banking is a game changer, offering new online payment channels without the need for credit cards or debit cards.
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