NBO Introduces Direct Debit E-Mandate, Transforming Recurring Payments in Oman - Middle East Business News and Information
13 May 2025, Muscat –
The National Bank of Oman (NBO) has launched its Direct Debit E-Mandate, a reliable digital solution that simplifies recurring transactions for businesses and individuals. Developed as part of the Central Bank of Oman's (CBO) digital payment efforts, this innovative service provides customers with greater flexibility, effortless management and control over their payments through a user-friendly digital platform.
The Direct Debit E-Mandate enables customers to schedule regular payments, eliminating the need for manual processing or cheque-based transactions. Available through NBO's Corporate Internet Banking (for Businesses) and the NBO App (for Individuals), this service allows seamless and scheduled payments, improving efficiency and reliability.
Mohammed Yahya Al Jabri, Assistant General Manager – Head of Global Transaction Banking at NBO, commented, 'The launch of the Direct Debit E-Mandate represents a major advancement in Oman's financial ecosystem. By offering businesses and individuals a reliable digital solution to manage payments, we are driving efficiency, reducing administrative burdens and improving user convenience.'
The Direct Debit E-Mandate offers secure digital approval, allowing customers to create, approve, modify or cancel mandates through NBO's digital banking platforms. Payments are processed automatically, allowing seamless and scheduled payments without the need for manual follow-ups.
From his end, Dr. Ali Al Shekaili, Assistant General Manager – Head of Digital & E-Channels at NBO, added, 'This initiative aligns with our commitment to digital innovation. Customers can now create and manage their payment mandates securely and effortlessly through our digital banking platforms, reinforcing NBO's position as a leader in financial technology.'
Moreover, users are promptly notified of mandate creation, modifications and payments, ensuring transparency and control over their financial activities. The service supports various payment frequencies, including daily, weekly, monthly and yearly transactions, making it suitable for loan repayments, subscription services, utility bills and business transactions. Customers also have the flexibility to modify or revoke their mandates digitally at any time, ensuring full control over their financial commitments.
As Oman continues its journey toward a fully digital financial ecosystem, NBO remains committed to introducing cutting-edge solutions that enhance banking experiences for corporate and retail customers.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mid East Info
26-05-2025
- Mid East Info
Muzn Islamic Banking Strengthens Support for Oman's Housing Vision through Developer Partnerships - Middle East Business News and Information
26 May 2025, Muscat: NBO Muzn Islamic Banking has announced the signing of two Memoranda of Understanding (MOUs) with Sohar Real Estate Development LLC to support the Hai Majd Project and Zain Property Development LLC to support Husn Al Zain Project. The agreements enable Muzn Islamic Banking to provide Shari'a-compliant home financing solutions to eligible customers purchasing properties developed under the Sorouh Initiative for Integrated Residential Neighbourhoods. Formalised by officials from the Ministry of Housing and Urban Planning, the National Bank of Oman (NBO), and the respective developers; the agreements were signed by Abdullah Zahran Al Hinai, Chief Executive Officer of NBO, Mahmood Al Mandhari, CEO of Sohar Real Estate Development LLC, and Mish'al Al Raisi, Managing Director of Zain Property Development LLC. Commenting on the agreements, Salima Obaid Issa Al-Marzoqi, Assistant General Manager and Chief Islamic Banking Officer at NBO, stated, 'These partnerships mark a significant milestone in our efforts to deliver accessible, Shari'a-compliant housing solutions. Muzn Islamic Banking is committed to empower individuals and families across Oman with ethical financing options that align with their values. Through our collaboration with trusted developers and MOHUP, we are proud to support the government's vision of sustainable urban communities.' The Sorouh Initiative, spearheaded by the Ministry of Housing and Urban Planning, aims to provide integrated residential communities across Oman through partnerships with the private sector. Muzn Islamic Banking's role in this initiative underscores its ongoing support for national development priorities and its focus on delivering innovative Islamic financial products and services.
Mid East Info
13-05-2025
- Mid East Info
NBO Introduces Direct Debit E-Mandate, Transforming Recurring Payments in Oman - Middle East Business News and Information
13 May 2025, Muscat – The National Bank of Oman (NBO) has launched its Direct Debit E-Mandate, a reliable digital solution that simplifies recurring transactions for businesses and individuals. Developed as part of the Central Bank of Oman's (CBO) digital payment efforts, this innovative service provides customers with greater flexibility, effortless management and control over their payments through a user-friendly digital platform. The Direct Debit E-Mandate enables customers to schedule regular payments, eliminating the need for manual processing or cheque-based transactions. Available through NBO's Corporate Internet Banking (for Businesses) and the NBO App (for Individuals), this service allows seamless and scheduled payments, improving efficiency and reliability. Mohammed Yahya Al Jabri, Assistant General Manager – Head of Global Transaction Banking at NBO, commented, 'The launch of the Direct Debit E-Mandate represents a major advancement in Oman's financial ecosystem. By offering businesses and individuals a reliable digital solution to manage payments, we are driving efficiency, reducing administrative burdens and improving user convenience.' The Direct Debit E-Mandate offers secure digital approval, allowing customers to create, approve, modify or cancel mandates through NBO's digital banking platforms. Payments are processed automatically, allowing seamless and scheduled payments without the need for manual follow-ups. From his end, Dr. Ali Al Shekaili, Assistant General Manager – Head of Digital & E-Channels at NBO, added, 'This initiative aligns with our commitment to digital innovation. Customers can now create and manage their payment mandates securely and effortlessly through our digital banking platforms, reinforcing NBO's position as a leader in financial technology.' Moreover, users are promptly notified of mandate creation, modifications and payments, ensuring transparency and control over their financial activities. The service supports various payment frequencies, including daily, weekly, monthly and yearly transactions, making it suitable for loan repayments, subscription services, utility bills and business transactions. Customers also have the flexibility to modify or revoke their mandates digitally at any time, ensuring full control over their financial commitments. As Oman continues its journey toward a fully digital financial ecosystem, NBO remains committed to introducing cutting-edge solutions that enhance banking experiences for corporate and retail customers.
Mid East Info
06-05-2025
- Mid East Info
NBO Celebrates Digital Innovation and Collaboration at the Digital Partnership Awards - Middle East Business News and Information
6 May 2025, Muscat – The National Bank of Oman (NBO) hosted its inaugural Digital Partnership Awards Ceremony at its Head Office in Muscat, an exclusive event celebrating innovation, collaboration, and the outstanding contributions of public and private sector partners. The ceremony recognised strategic partnerships that are driving Oman's digital transformation and accelerating NBO's vision of delivering seamless, customer-centric digital banking experiences. By leveraging these alliances, NBO continues to enhance its platforms, simplify customer journeys, and adopt innovative technologies that promote financial inclusion, aligned with the ambitions of Oman Vision 2040. Key themes of the event included the importance of cross-sector collaboration, the power of digital innovation in improving customer experiences, and the collective role in shaping a future-ready digital ecosystem. Award categories included Best Digital Payment Acquirer Excellence and Best Digital Payment Processor, among others, honoring impactful efforts that have elevated Oman's digital infrastructure. This initiative reaffirms NBO's commitment to partnering with government and industry leaders to build a smart, connected, and digitally empowered national economy.
