Six out of 10 Leading Banks in Oman Go Live with SunTec’s GCC VAT Solution for Comprehensive and Continuous Compliance with VAT Regulations

Six out of 10 Leading Banks in Oman Go Live with SunTec’s GCC VAT Solution for Comprehensive and Continuous Compliance with VAT Regulations

MUSCAT, Oman–(BUSINESS WIRE/AETOSWire)— India-based SunTec Business Solutions, the world’s #1 relationship-based pricing and billing company, today announced a major milestone in Oman, with six of the 10 local banks in the country going live with SunTec’s GCC VAT Compliance Solution. Oman implemented a nationwide VAT regime on April 16, 2021, in line with the transition to VAT across all GCC countries. Despite a short notice for implementation, SunTec’s client banks in Oman were able to execute full VAT compliance well before the deadline by capitalizing on SunTec’s uniquely designed solution…

Banks and FinTech partnerships to bring about a paradigm shift in the future of banking industry

خبير مصرفي متخصص يحث على تعزيز الشراكات بين البنوك وشركات التكنولوجيا المالية

Banks and FinTech partnerships to bring about a paradigm shift in the future of banking industry UAE banking sector sees rapid growth in digitisation of services, sales channels and partnerships with FinTechs across the region  Digitisation has changed every sector, and the banking industry is no exception, leading several banks to reduce their physical footprint in an effort to bring more customer centric digital platforms to the forefront of their retail offering. This digitisation and transformation journey has led several global and local banks, brokers, insurers, and investment managers to opt…

Discover Announces Alliance with Malaysia’s PayNet to Expand Worldwide Acceptance

Discover Announces Alliance with Malaysia’s PayNet to Expand Worldwide Acceptance

KUALA LUMPUR, Malaysia & RIVERWOODS, Ill.–(BUSINESS WIRE/AETOSWire)– Discover, a leading digital bank and payments company, and Payments Network Malaysia Sdn Bhd (PayNet), the national payments network and shared central infrastructure for payment services in Malaysia, have signed an agreement that will greatly expand acceptance for Discover, Diners Club International and network alliance cardholders in Malaysia. The agreement complements Discover’s strategy of growing acceptance in Asia Pacific to support existing partners in countries such as Singapore, India, China and Japan by potentially opening acceptance at 10,000 ATM locations and more than…

launch of digital experience platform ‘GROHE X’ for its GROHE brand

launch of digital experience platform ‘GROHE X’

LIXIL EMENA celebrates launch of digital experience platform ‘GROHE X’ for its GROHE brand Successful start: Over 12,000 visitors explored GROHE’s brand hub on the first day and almost 4,000 viewers attended the three live events Impactful sustainability engagement: As one of the first sanitary brands, GROHE presented its first Cradle to Cradle Certified® products during the premiere keynote Putting customers at the center: GROHE is increasingly addressing consumer needs with value-adding product innovations and tailored services  ‘Discover what’s next’: With this guiding theme, LIXIL EMENA yesterday successfully launched its…

Saudi banks have thrived rather than survived ; a dynamic outlook for 2021

كي بي إم جي: توقعات باستمرار قوة أداء القطاع المصرفي

KPMG Report: Despite pandemic, Saudi banks have thrived rather than survived; a dynamic outlook for 2021  KPMG’s latest report on the financial sector, Banking Perspectives 2021, records the sector seen moving towards a better year. Backed by government reforms, halt in credit losses (ECL), stable liquidity, stronger CAR, and transformational changes, banks are heralding stable year, as compared to a shaky outlook in the corresponding period last year. KPMG reported that the 11 Tadawul-listed banks stayed resilient at the end of 31 December 2020 reflecting signs of recovery since uncertainties…

Azraq Volunteer Members Remove 137.9KG of Debris From Lulu Island

Azraq Volunteer Members Remove 137.9KG of Debris From Lulu Island

Four of Azraq’s volunteer members, ventured out to Lulu Island in Abu Dhabi yesterday to undertake a clean up from the seabed and around the island itself, removing 137.9kg of debris, mainly plastic water bottles and fishing debris. This initiative was undertaken with its newest partner, The Captain’s Club which provided a boat and captain for the activity. Aside from ocean clean ups, Azraq will utilize the partnership to expand on its coral reef survey program in Abu Dhabi, with an eye on Dubai also. Natalie Banks, Founder of Azraq,…

Ajman Bank’s IT Head Wins CXO Award 2021

رئيسة قسم تكنولوجيا المعلومات في مصرف عجمان تفوز بجائزة CXO لعام 2021

Ajman Bank’s Head of Information Technology Ms. Hajar Al Maazmi has been announced as one of the winners of the prestigious CXO 50 Awards 2021. Hosted by CXO Insight Middle East this year’s award was organised to recognise top 50 IT leaders and industry professionals who have taken the reins during the COVID-19 crisis to shape the new normal. Congratulating Ms Al Maazmi, Mr. Mohamed Amiri, CEO of Ajman Bank, stated, “The CXO Award is designed to honor innovative and forward-thinking IT leaders whose actions have had an impact on…

The Qatar General Tax Authority and Invenio

launch integrated digital tax administration system on SAP S/4HANA® Aims to increase taxpayer compliance and transform the tax landscape, in the State of Qatar Dubai, United Arab Emirates, 21st Feb 2021 – The General Tax Authority (GTA) and implementation partner Invenio Business Solutions successfully launched a state-of-the-art​ digital tax administration system, in the State of Qatar. The new system has transformed the tax administration lifecycle, digitalising existing services and making them 100% contactless. Over 58,000 taxpayers have already registered on the comprehensive new system, which supports multiple revenue types and offers access…

Northern Trust Enhances Solutions for Middle East Clients with Sunday to Friday Investment Performance Valuations

Northern Trust Enhances Solutions for Middle East Clients with Sunday to Friday Investment Performance Valuations

ABU DHABI, United Arab Emirates & RIYADH, Saudi Arabia–(BUSINESS WIRE/AETOSWire)-– Northern Trust (Nasdaq: NTRS) today announced it has evolved its Investment Performance reporting services to deliver Sunday to Friday investment returns for clients with Middle East mandates. The latest development from Northern Trust’s Investment Risk and Analytical Services (IRAS) group enables Middle East-specific performance analytics to be reported with greater depth of analytics and timeliness for local markets. The enhancement enables Sunday returns to be calculated for Middle East markets and portfolios – delivering information that is increasingly timely and representative of regional clients’ investment…

NNTC and Smart Engines help to implement Digital User Onboarding at Oman Arab Bank

NNTC and Smart Engines help to implement Digital User Onboarding

Clients’ onboarding time reduction can save banks of the world billions of dollars; AI-driven NNTC’s iFalcon KYC Control module with Smart Engines’ ID document scanning software allows quick, safe and straightforward onboarding in under five minutes.  NNTC, a UAE-based software developer and solutions provider, today announced the successful implementation of its biometric user onboarding module with Smart Engines’s identity documents recognition technology at Oman Arab Bank (OAB), a pioneer in the local banking sector. NNTC’s AI-powered module, iFalcon KYC Control, facilitates swift, frictionless and secure digital customer onboarding. Any Omani…