Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Oman- Bank Nizwa introduces in-house electronic cheque clearing solutions  Join our daily free Newsletter

MENAFN - Muscat Daily - 10/04/2014
No. of Ratings : 0
Add to Mixx!

(MENAFN - Muscat Daily) Bank Nizwa, Oman's leading Islamic bank, has become the first bank in the sultanate to implement an electronic cheque clearing solution which enables the bank to clear cheques drawn in Bank Nizwa between all of its branches without any hassle.

The bank has partnered with leading technology company ProgressSoft Corporation to offer speedier cheque clearing to its customers through imaging technology which reduces the time required for payment of cheques. The technology, known as PSECC PromptOnUs, enables Bank Nizwa customers to enjoy instant cheque collection and deposit as they receive image based deposit slips and can easily track their cheque transactions online.

Dr Jamil el Jaroudi, Bank Nizwa, CEO, said, With the success of introducing this new service to our Core Banking System, we are confident of adding to the technology to increase the benefits to our customers. We eagerly anticipate innovative platforms such as Corporate Remote Cheque deposit and capture on our ATM network and very soon our customers will be even able to clear their cheques via our online banking system.'

Dr Yousef Janahi, head of IT, Bank Nizwa, said, At Bank Nizwa we believe that technology is the way forward for an easy banking experience. Through this technology our customers can enjoy an easier way to make payments and be assured of having their cheques cleared faster. We continuously assess the market to see what technological advancements are available to make our customer's experience richer.

The Prompt OnUs product ticks all the boxes and our entire team here is very excited to see it in action.' The technology reduces the associated costs of transit and delays in processing and also ensures that the collection and realisation of cheques is seamless.

It is a worthy addition to the banks high end technology which includes instant cheque readers, instant card readers, instant issuance of master card and its Civil Identity Card reader, all of which highlight the bank's commitment to the success of next generation banking procedures which will make banking easier and safer for its customers.


Muscat Daily

  MENA News Headlines
 Nov 26 2015 - Turkey- G20 Communiqu: 34The fight against terrorism is a major priority34The Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Following the two-day summit in Antalya Turkey G-20 leaders released a communiqué calling for greater coordination and information to counter terrorist ...

 Nov 26 2015 - Muslims on 39the front line39 against terror: NATOThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) NATO Secretary General Jens Stoltenberg has said it is Muslims who are on “the front line” in the fight against terrorism and extremism. ...

 Nov 26 2015 - Western Balkans 39key to fighting extremism39The Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) The western Balkans is “key” to stemming extremism and terrorism the president of the European Council said Wednesday. Speaking at a summit to ...

 Nov 26 2015 - Turkey- Syrian Turkmen facing 39critical39 period in battleThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Fighting between Syrian Turkmen forces and regime troops is “critical" the leader of the Turkmen opposition said Wednesday. Russian airpower is ...

 Nov 26 2015 - ISIS kills its Austrian 39poster girl39 after she attempts to flee SyriaThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) An Austrian teenager who fled to Raqqa Syria in order to join the Islamic fundamentalist terror organization Islamic State was beaten to death after ...

 Nov 26 2015 - Kuwait Spain discuss scientific cooperationKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT Nov 26 (KUNA) -- Kuwait Institute for Scientific Research (KISR) and Spanish Nuclear Safety Council (CSN) discussed means of scientific cooperation and ...

 Nov 26 2015 - Kuwait- KNPC upgrades operations at Al Ahmadi refineryKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT Nov 26 (KUNA) -- Kuwait National Petroleum Corporation (KNPC) announced on Thursday upgrading its Fluid Catalytic Cracking Unit at Al-Ahmadi Refinery so as ...

 Nov 26 2015 - Deputy FM: Kuwait interested in tightening airport security in coordination with BritainKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) KUWAIT Nov 26 (KUNA) -- Deputy Foreign Minister Khaled Al-Jarallah said on Thursday Kuwaiti security authorities are keen to work with the British side for ...

 Nov 26 2015 - Al Tayer affirms DEWA's commitment to support UAE national identityEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) DUBAI 26th November 2015 (WAM) -- Saeed Mohammed Al Tayer MD and CEO of Dubai Electricity and Water Authority DEWA has affirmed DEWA's commitment to ...

 Nov 26 2015 - UAE- YFEL Led Solar Energy Project with Masdar Collaboration Comes Online to Help Power Rashid Abdullah Omran HospitalEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) ABU DHABI 26th November 2015 (WAM)--Masdar has completed a 543 KWp photovoltaic (PV) solar power project that is to deliver renewable energy to the Rashid ...




Click to Apply


Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help