Bahrain and India Connect Instant Payment Systems

The Central Bank of Bahrain (CBB) announced the signing of a landmark cooperation agreement between Benefit Company and NPCI International Payments Limited (NIPL), the international arm of the National Payments Corporation of India (NPCI). The partnership aims to connect the instant payment systems of the Kingdom of Bahrain and the Republic of India, under the supervision of both the CBB and the Reserve Bank of India (RBI).

The signing ceremony took place at the CBB headquarters, with the agreement formalized by Mr. Abdulwahed Janahi, Chief Executive Officer of Benefit, and Mr. Ritesh Shukla, Chief Executive Officer of NIPL. The event was attended by Ms. Hessa Abdullah Al Sada, Executive Director of Banking Operations and Financial Stability at the CBB, and Mr. Ganveer Singh, Director General and Head of the Payment and Settlement Systems Department at the RBI.

Under the agreement, Bahrain’s Electronic Funds Transfer System (EFTS), operated by Benefit through its Fawri+ service, will be connected to India’s Unified Payments Interface (UPI) platform. This integration will enable residents and businesses to conduct secure, real-time money transfers and payments between the two nations, creating a seamless and efficient cross-border payment experience.

This initiative marks a significant milestone in the Central Bank of Bahrain’s strategic efforts to advance digital payment solutions, strengthen financial connectivity, and align with global innovations in the fintech sector. The move is expected to enhance Bahrain’s economic competitiveness and reinforce its position as a regional leader in financial technology.