Manama, July 28 -- National Bank of Bahrain (NBB) today announced the signing of an MOU with BENEFIT Company to offer a market leading Direct Debit Solution to its Business Customers.

The service offers a host of value added features to streamline and enhance the collection process. Business customers are currently dependent on their payors on the timing and mode of payment (cheques/cash/transfers, etc.), often creating delays and reconciliation challenges. Through Direct Debit tools, business customers can now obtain control of when they want to pull funds from their payor accounts as per mutual agreement. This ensures faster collection as well as eliminating reconciliation requirements.

"We are delighted to have this partnership that ...