Sharjah Islamic Bank signs agreement with Sharjah Social Services Department
- United Arab Emirates: Saturday, October 16 - 2010 at 10:45
- PRESS RELEASE
Sharjah Islamic Bank (SIB) has signed a joint agreement of cooperation with the Sharjah Social Services Department (SSSD) to issue bank cards for beneficiaries of the department's services, allowing them to receive their monthly payments via the Sharjah Islamic Bank's ATMs instead of in cash from the department's offices.
The agreement, which is a part of both parties' efforts and endeavors to further improve the quality of services rendered to the public, aims to enable beneficiaries of the SSSD to receive their payments via ATM's or e-payment systems in retail outlets. This is in line with global payment methods, which rely heavily on e-banking instead of direct cash transactions as it helps save time and energy while maintaining privacy.
Speaking on the occasion, Yousef said: "Our agreement with the Sharjah Social Services Department will enable beneficiaries of the department's services to receive their monthly payments without effort, and will also help us to introduce the bank's other services and products to this market. It forms part of our responsibility to government departments and authorities."
From her side, Al Marri said: "We have selected Sharjah Islamic Bank due to their track record of high quality services and facilities, as well as their achievements in corporate social responsibility. We are confident that this step will serve the interests of our beneficiaries as it will help them save energy and time as they will have access to 23 branches and more than 100 ATMs located in residential districts and other vital areas across the UAE."
Since its successful transition from conventional to Islamic banking in 2002, Sharjah Islamic Bank has offered a variety of Shari'a-compliant products that cater to the needs of individuals, companies, institutions, as well as investment and international banking services. As a result of well considered strategies and careful planning based on risk management and cost control, SIB has seen unprecedented growth. The bank currently has 23 branches located across the UAE, in addition to more than 100 ATM and deposit machines installed in residential districts and other vital areas such as shopping malls and entertainment centers.
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