Kuwait Finance House Malaysia Bhd. has become the first foreign Islamic bank in Malaysia to join the Malaysian Electronic Payment System, known locally as MEPS, an official for the bank tells PaymentsSource.
Malaysian Electronic Payment System Sdn. Bhd. is a payment consortium owned equally by 12 local banks and is the country’s premier ATM network. It has 22 members, including the founding partner banks.
Through the agreement, Kuwait Finance’s accountholders may access the network’s 9,000 ATMs in Malaysia for free, according to the official.
“We have also linked up with the MEPS Interbank Giro Payment System to offer further convenience to our customers,” which will allow accountholders of the bank to transfer funds faster between the 22 MEPS-participating member banks, he says.
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