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Sharjah Finance Department Signs Agreement with the Sharjah Islamic Bank

Sharjah Finance Department

 

The Sharjah Finance Department (SFD) recently signed a cooperation agreement with Sharjah Islamic Bank (SIB) to provide an automatic cashback service for the balance of digital wallets, to strengthen the partnership between the two parties and as a continuation of providing quality smart services to speed up procedures and facilitate the customers.

The cooperation agreement was signed at the SFD’s headquarters by Aisha Abdullah Al Hosani, Director of Business Support Services Department at the SFD, and Waleed Al Amoudi, Head of Digital Banking at SIB in the presence of Huda Al Yasi, Director of Financial Systems Department, and Arwa Al Owais, Director of Accounts Department, in addition to a number of senior employees from both parties.

The new digital wallet agreement includes the automatic retrieval of the balance of one’s digital wallet with the smart receipt system, that is to say, a collection to the approved bank account of the client of the government of Sharjah. Future plans will be initiated with the Sharjah Islamic Bank in processing the deposit refunds for government agencies, as well as in processing cash refunds.

 

 

Enhancing the Efficiency of the Financial System of the Government of Sharjah.

Arwa Al Owais stated that, "The launch of this new service enhances the efficiency of the government of Sharjah’s financial system, and makes it easier for individual and institutional customers to obtain new services such as an automatic cashback service in an easy and innovative way which is available around the clock and is included in the policy The department seeks to achieve global financial leadership by developing innovative technologies to achieve financial stability and sustainability.

She added that the SFD, through this partnership with the Sharjah Islamic Bank, is looking to increase the competitive advantages of the smart delivery system which reduces effort and time for dealers, avoids human errors and multiple cash payment problems, while providing faster access to transaction fee payment services and automatic cash refunds. All of these services include the adherence to the highest standards of safety.

 

Providing Facilities According to the Latest Available Technology.

When questioned, Waleed Al Amoudi, Head of Digital Banking at SIB, stated that, "The Sharjah Islamic Bank always seeks to strengthen its partnerships with local and federal government agencies, including the Sharjah Finance Department, with the aim of facilitating customers by providing greater flexibility in payment and cash refund mechanisms. ".

He added that such partnerships contribute to enhancing the digital trend, which is achieved through cooperation between the government and banking sectors and that the Sharjah Islamic Bank works to include the highest standards of technological innovation in the field of digital banking.

The continuous cooperation between the Sharjah Islamic Bank and the Sharjah Finance Department works to increase customer satisfaction and facilitate them by providing flexibility in automated payment and refund processes while enhancing smart options. Through this, customers are given a greater access to digital banking services around the clock, seven days a week, with a commitment to continuously developing services, keeping in pace with the highest international standards.

 

The Digital wallet

It is worth noting that the "digital wallet" allows users to pay utility bills by linking the Tahseel application platform of the SFD to the electronic payment gateway of Sharjah Islamic Bank. Thus, this mechanism enables customers and users of Tahseel, to transfer to and from their current savings accounts with Sharjah Islamic Bank and other Banks in the UAE.

The Sharjah Finance Department is working to achieve a number of strategic objectives that lie in managing, developing and providing cash liquidity, developing a performance budget system, implementing integrated and effective financial policies, building a global model in public finance, enabling smart transformation, and implementing seven-star services. In addition they aim to strengthen the internal control system, empower national human resources, develop a culture of excellence and innovation and manage institutional performance.