Bank Nizwa, a leading Islamic bank in Oman, has announced the launch of a first of its kind debit card in the sultanate that caters to the specific needs of corporate and SME clients. 

 

In addition, to incorporate end-to-end sustainability in design, these cards are eco-friendly and the welcome kit is made of seed paper, said a statement from Bank Nizwa. 

 

With round-the-clock access to company accounts, smart and customisable services and the highest levels of transparency in operations, the cards are aimed at making transactions more seamless and prompt while reducing the hassles of dealing with cash, it stated. 

 

Cardholders can enjoy multiple benefits such as cash withdrawals and deposits, secure, contactless payments at Point of Sale (POS) machines and e-commerce platforms and accessibility across a diverse network which includes OmanNet and GCCNet as well as Mastercard – International. 

 

Whilst incorporating several innovative features, the cards also firmly adhere to Islamic banking principles, said a top official.

 

On the new cards, Deputy General Manager (Wholesale Banking) Khalid Al Barwani said: "Vigilant and responsive to the evolving demands of the market, Bank Nizwa has been able to identify and address the common challenges encountered by corporates when it comes handling transactions and making payments."

 

"The new eco-friendly corporate debit card will help companies to better control and monitor expenses and gain real-time insights into their accounts. For SMEs and other corporates, transparent and accurate expense management that reduces the chances of errors or frauds is a critical factor that contributes to growth," he stated.

 

Al Barwani said Bank Nizwa understands the unique needs of its corporate customers and is certain that the newly introduced corporate debit cards would be enhancing its business efficiency. 

 

"As a bank that has been revered for providing exceptional corporate banking services, we will continue to focus on providing shari’ah-compliant, customer-centric, and value-added solutions that benefit our clients every step of the way," he added.-TradeArabia News Service