Muscat, 6 December 2008: BankMuscat, the leading financial institution in the Sultanate of Oman, has signed an agreement with the Ministry of Regional Municipalities and Water Resources (MRMWR), offering card payment facility for all fee transactions at regional municipalities spread across the country. The agreement marks a major milestone for MRMWR, paving the way for an effective and secure platform for electronic card payment transactions.
A host of fee-based services are rendered by the regional municipalities, including approvals and permits related to residential and commercial sectors. With the introduction of the card acquiring service, bank cards, carrying Visa and MasterCard, can be used at MRMWR counters as mode of payment.
“The implementation by the Ministry of card payment facility for fees payable for municipal services at all the regional municipalities will enable both citizens and establishments to pay fees electronically through the use of bank cards instead of cash. This facility will further streamline the work of the regional municipalities and will help in the speedy execution of transactions besides offering the Ministry an opportunity to look into the possibility of extending fee collection hours” HE Hamed Al Ghuraibi, Under-Secretary at MRMWR, said.
Commenting on the agreement, AbdulRazak Ali Issa, Chief Executive, said: "BankMuscat is proud to be the first card acquiring bank offering electronic payment facility for MRMWR transactions. The initiative marks yet another step by the Bank to consolidate its dominant position in launching innovative technology products and services which spell convenience to customers. The card acquiring service reflects the Bank's commitment to work closely with government agencies in improving the financial infrastructure in the country."
The Chief Executive added: “Ever since BankMuscat commenced its card acquiring operations in 2002, many milestones have been achieved with the support of partners and customers. Presently, BankMuscat is the largest acquirer and issuer of cards in Oman, owing to the strong support from partners, customers and the goodwill of people.”
In step with eOman, the Sultanate’s e-Governance initiative launched by the Information Technology Authority (ITA), BankMuscat has been in the forefront, facilitating electronic payments. Notably, BankMuscat is the first card-acquiring bank to support ITA’s electronic payment for goods and services offered by the government. eOman leverages information communication technology (ICT) for economic and social gain to enrich the lives of the people of Oman. The objectives of e-Oman include integrating government departments to provide better and more efficient electronic public services and building a secure foundation for e-Commerce transactions.
Establishing a strong network of government and commercial entities, BankMuscat has deployed over 3100 point of sales (POS) card acquiring terminals across the country to support the initiative of electronic payment in the country and continues to expand rapidly.
Firmly positioned to attract over one million customers by 2010, BankMuscat serves the largest banking family in Oman with superior products and services that make a difference in every stage of life.