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Sharjah Islamic Bank, India's ICICI ink deal on remittances

Sharjah Islamic Bank, India's ICICI ink deal on remittances

Sharjah Islamic Bank has announced the strengthening of its partnership with ICICI Bank to facilitate remittances to India. The collaboration will provide SIB the chance to offer instant remittances to its customers through the digital channels 24x7.

Ahmed Saad, deputy CEO of SIB, along with Vikash Sharma, General Manager, Regional Head - Middle East & Africa of ICICI, signed a memorandum of understanding at the Sharjah Islamic Bank office, in the presence of officials from both sides.

"We are delighted to partner with one of the leading banking institutions in India. By doing so our aim is to identify new trends and develop services that can help us cater to all the diverse needs of our customers. Such partnerships will have positive results on the bank and its partners inside and outside the country," said Ahmed Saad.

Vikash Sharma said, "By partnering with Sharjah Islamic Bank, one of the leading banks in the emirate, we will be able to reach out to our NRI (non-resident Indian) customers who have invested their trust in us and made us one of the leading institutions for several years now."

This partnership allows customers to transfer money to India without any additional fees. This can be done by simply adding the beneficiary on the SIB online and mobile banking application that will allow remitting money to India at the same time safely and securely.