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BEC marks 25 years of business
January 29, 2018, 4:34 pm

Bahrain Exchange Company (BEC), one of the oldest leading worldwide money transfer and foreign currency specialist in the region, celebrated on 24 January its 25th year in operation.

BEC, which was established in 1992, is a part of BFC Group Holdings, and began its legacy as Bahrain’s most trusted Money Transfer and Currency Exchange Company. In the 1990’s, with the influx of expatriate workers into the country, it recognised a requirement in the market for reliable remittance services for expatriates to send money back to loved ones in their home countries and became the first company to offer draft and door to door money transfer products to both local and expatriate residents.

Commenting on the occasion,  Mathews Varughese, BEC General Manager said, “BEC has completed yet another milestone in its successful journey. I would like to take this opportunity and thank all the people who have worked hard for the growth of BEC in the past. Also, I would like to emphasize that in the last 25 years we have delivered the services and products that are best in the market with outstanding results. Opportunities don't happen. You create them. There are no secrets to success; it is the result of strategic thinking, hard work and learning from failure. Going by our values we have won the hearts of the mass expatriate community with care, trust and efficiency”.

Since the days of paper drafts and through the evolution of technology, and its focus on innovation, BEC have developed its product offering to accommodate the ever-evolving needs of its customers and today offers a vast array of fast and secure money transfer services, including its own product – EzRemit Money Transfer which allows customers to send money in minutes to over 46,000 agent locations in 50+ countries. Moreover, its global reach is extended to over 200 countries through its partnership with MoneyGram, Xpress Money and Transfast, an international remittance companies.  In addition, BEC is the leading provider of foreign currency exchange in the country, offering over 40 currencies at great rates and at 0% commission.

From its humble beginnings with its first branch in Murgab, the company has grown its network in Kuwait to over 45 branches across the country and through its parent company ‘BFC Group Holdings’, it has brand presence globally through the establishment of its affiliate money transfer and currency exchange company’s in Bahrain, the United Kingdom, India and Malaysia with a combined retail network of over 125 outlets.

At the heart of BEC is its customers and in 2016, it launched a new brand ambassador ‘Bob, the BEC Buddy’ whose role is to guarantee that all BEC customers will receive great rates and customer service with every transaction.  The launch of Bob also represents the company’s vision ‘To be the prominent money service company that fully engages with our customers’ and with its strong heritage and values of Care, Trust and Efficiency, BEC remains strong as a bull and the customers number one choice.

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