Abu Dhabi – Mubasher: Sharjah Islamic Bank (SIB) has entered into a new partnership with Network International to provide the bank’s UAE-based customers with advanced digital financial services, such as point-of-sale (POS), card acceptance, and payment processing, according to a press release.
The collaboration with Network International will allow Sharjah Islamic Bank to leverage integrated multi-channel payment solutions. This step will boost the lender’s efforts toward digital transformation and innovation while offering an enhanced suite of advanced payment networks besides digital products and services.
Card payments will be available through different channels like POS terminals in retail outlets, commercial establishments, tourism facilities, and government entities.
Furthermore, the partnership will enable online shopping, government payments through an e-payment gateway, Pay By Link, unified commerce, and Soft POS solutions.
Head of Retail Banking at Sharjah Islamic Bank, Nabil Abou Alwan, said: “This strategic partnership marks a significant milestone in enhancing the suite of corporate banking products we offer.”
The partnership agreement was signed at Sharjah Islamic Bank’s headquarters in the Sharjah emirate in the presence of dignitaries including the bank’s CEO, Mohamed Abdalla and Deputy CEO, Ahmed Saad.
Commenting on this collaboration, Group CEO of Network International, Nandan Mer, added: “We are thrilled to partner with Sharjah Islamic Bank to offer multi-channel payment acceptance solutions tailored to meet the needs of the bank’s customers, including SMEs, corporates, and government institutions.”
Mer concluded: “Through this collaboration, we aim to provide secure and seamless services that enhance operational efficiency and improve customer experience with over three decades of expertise in building advanced digital payment infrastructures.”
It is worth noting that in the first nine months (9M) of 2024, Sharjah Islamic Bank recorded AED 902.52 million worth of net profits attributable to the shareholders in addition to total operating income of AED 1.61 billion.
In January 2024, Network International unveiled the appointment of Jamal Al Nassai as the Group Managing Director for Merchant Services in the MENA region to focus on strategic planning and execution as well as business development across MENA.
