BFC Forex and Financial Services Pvt Ltd (BFC Forex) was established in 2005 and is part of BFC Group Holdings W.L.L (BFC Group), the parent company to Bahrain Financing Company (BFC) in Bahrain, Bahrain Exchange Company (BEC) in Kuwait, BFC Exchange Ltd in the United Kingdom and BFC Exchange Malaysia Sdn. Bhd.
BFC Forex is part of BFC Group which was established in January 2009, after the Islamic Financial Services Group – Bank Alkhair B.S.C © successfully acquired a controlling stake in Bahrain Exchange Company (BEC) in Kuwait, Bahrain Financing Company (BFC) in Bahrain, and BFC Exchange Limited (formerly known as EzRemit Limited) in the United Kingdom.
Since the acquisition, BFC Group has expanded its retail operations launching BFC Forex & Financial Services PVT Ltd (BFC Forex) in India and BFC Exchange Malaysia Sdn.Bhd. (BFC Exchange) in Malaysia.
BFC Group maintains a network of over 130 strategically located branches throughout Bahrain, Kuwait, Malaysia, the UK and India and is present in over 30 countries. Through its own money transfer product ‘EzRemit' it has more than 46,000 agent locations worldwide and has an extensive global reach of over 200 countries and territories through its partnerships with MoneyGram, Western Union, Ria and Xpress Money.
BFC Group maintains its leadership by continually evolving to meet market demands. Providing safe, reliable and convenient services within the money transfer and foreign currency exchange market to all its customers.
BFC Group is a Shariah-Compliant group of companies.
We are licensed as a Full Fledged Money Changer (FFMC) granted by the Reserve Bank of India (RBI) and specialise in buying and selling foreign currency to individual and corporate customers; as well as wholesale customers such as authorised FFMC’s, AD II’s, and Banks.
Within BFC Forex we have the capability to export surplus foreign currency notes to overseas banks facilitated through our branch in Cochin; as well as this we are approved by the RBI from time to time to import foreign currency notes to cover shortfalls due to high demands during peak seasons.
Under the Money Transfer Service Scheme (MTSS), BFC Forex is also authorised to receive cross-border money transfers into India and is the Principal Agent for EzRemit Money Transfer and a sub-agent for MoneyGram and Xpress Money.
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Our Values, Vision & Mission
Our core Values, Vision & Mission reflect our commitment to our customers by ensuring that they receive a service which is reliable, safe and convenient every time.
We are passionate about understanding our customers and responding in a manner that meets their needs.
Knowing that we are part of a family who look out for one another.
We are open, honest, accountable and operate in everyone’s best interest.
We work together to create a culture of respect and appreciation for all.
We work hard looking for ways to improve our operations through creativity and innovation.
Building a professional multi-cultural team, to connect with our customers.
To be the prominent money service company that fully engages with our customers, keeping money flowing across borders.
Providing trusted money services in the most caring and efficient way making a positive difference in the lives of our customers.