Sharjah Islamic Bank (SIB) 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.

His Excellency Ahmed Saad, DCEO of SIB, along with His Excellency Vikash Sharma, General Manager, Regional Head – Middle East & Africa of ICICI signed a Memorandum of Understanding at Sharjah Islamic Bank office, in the presence of Saeed Al Amiri, Head of Investment, Nabil Abou Alwan, Head of Retail Banking, Walid Al Amoudi, Head of digital banking. Representing ICICI Bank were  Raghavendra Shenoy, Assistant General Manager, Head of Retail & Remittance MEA, Anurag Sharma, Head of Remittance MEA, Sourabh Sen, RM – Financial Institutions and Abhay Garg, Senior Manager- Remittances.

“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 (Nonresident Indian) customers who have invested their trust in us and made us one of the leading institutions for several years now.”

ICICI Bank’s strong presence and large NRI customer base will help SIB attract prospective customers and offer new services with latest technology to their clients. 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.

SIB’s partnership with ICICI bank dates back to the late 1980’s, since then both banks have been supportive of each other in terms of international relations for financial engagements.

Sharjah Islamic Bank is constantly seeking to provide innovative and market-leading products and services which are designed to meet the requirements of the retail and corporate customers, through adopting the UAE Vision 2021, which aims to achieve a competitive, knowledge and innovation-based economy.