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​Bank Muscat and Ooreedoo sign MoU for digitalisation of payments

MUSCAT, 5 January 2020 

Bank Muscat, the flagship financial services provider in the Sultanate, and leading telecom services provider Ooreedoo have signed a Memorandum of Understanding (MoU) to digitalise Ooreedoo’s payments and reconciliation. The MoU was signed by Abdul Razzaq Abdul Wahid Al Balushi, Chief Financial Officer, Ooreedoo, and Tariq Atiq, DGM - Transaction & Public Sector Banking, Bank Muscat recently.

Abdul Razzaq Abdul Wahid Al Balushi, Chief Financial Officer, Ooreedoo, said: “This agreement will facilitate exchange of knowledge between both parties and enhance the service level provided to our customers. The new solutions will greatly enhance our daily operations leading to business efficiencies and scalability. We are proud to partner with Bank Muscat to pioneer new digital initiatives.”

Tariq Atiq, DGM - Transaction & Public Sector Banking, Bank Muscat, said: “Digital solutions are playing a bigger role in the development of the economy today and will soon become the only way ahead. More and more corporates are boosting their internal efficiencies by using our various digital solutions. We are very happy to welcome Ooreedoo onboard our digital solutions, which will facilitate greater operating efficiencies and customer satisfaction for them.”

The various digital solutions from Bank Muscat can be used by large corporates to make online payments and information can flow to the bank for processing. Large corporates can use Bank Muscat’s digital solutions to build an efficient and robust payment and reconciliation system. Bank Muscat also offers a number of tailor-made solutions such as Remote Deposit Capture (RDC) and Direct Debit Solution to its corporate customers.

The bank provides expert advice to corporates and institutional partners on structuring an automated and efficient accounts-receivables process and help them make a smooth transition towards efficient technology-focused processes. As a trusted banking partner, Bank Muscat remains committed to supporting institutions to make a smooth transition towards efficient technology-focused processes.

Over the years, Ooredoo has consistently been at the forefront of supporting businesses in Oman, serving customers across a multitude of sectors. The company’s tailored business solutions are shaped to encourage organisations to “Be Digital”, help them achieve sustainable growth and contribute to the Sultanate’s development.