Muzn Islamic Banking launches the Shari'ah-compliant Direct Debit E-Mandate
Available on Muzn Islamic Banking's Corporate Internet Banking services and the Muzn Islamic Banking app, the new digital solution complements the nationwide digital transformation efforts by providing a reliable and efficient way to manage high volumes of transactions without delays.
Commenting on the launch, Salima Obaid Al Marzoqi, Assistant General Manager and Chief Islamic Banking Officer at NBO, said, "At Muzn Islamic Banking, we recognise that customers seek solutions that align with their values, not just digital services. The Direct Debit E-Mandate reflects our commitment to build a future-ready, Shari'ah-compliant banking ecosystem that meets the evolving needs of both individuals and businesses. It also offers operational efficiency, transparency and trust within a secure, user-centric platform."
The Direct Debit E-Mandate enables customers to schedule automated payments directly from their bank accounts, reducing manual processing and administrative costs. This fully digital service helps to ensure cash flow stability, avoid payment delays and have greater control over financial commitments.
It also allows customers to create, approve, modify or cancel payment mandates while receiving real-time notifications for all mandate activity and payment transactions, ensuring full transparency and oversight.
Supporting various payment frequencies (daily, weekly, monthly, and yearly), this solution is ideal for managing a wide range of recurring payments, including utility bills, loan repayments, business subscriptions, and vendor payments.
For more information, please visit www.muzn.om
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