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2/25/25, 9:22 AM Sharjah Islamic Bank partners with CashTrans for cutting-edge cash management

CashTrans will deliver secure and customised CIT solutions designed to meet SIB’s operational needs. Image Courtesy: CashTrans
ISLAMIC FINANCE
Sharjah Islamic Bank partners with CashTrans for cutting-edge cash
management

SIB has strategically partnered with CashTrans to support its financial operations with a robust cash management solution
Press Release

February 24, 2025

Dubai, UAE – CashTrans, a leading provider of cash management solutions and a subsidiary of Al Ansari Financial Services PJSC, is proud to
announce its partnership with Sharjah Islamic Bank (SIB) to introduce a range of advanced cash management services aimed at enhancing
operational efficiency and financial service delivery.

This collaboration underscores the commitment of both organisations to streamline cash handling processes, enhance security, and optimise cash
flow management for SIB and its valued customers.

As part of this partnership, CashTrans will deliver secure and customised Cash-in-Transit (CIT) solutions designed to meet SIB’s operational needs.
Through its state-of-the-art logistics network, armoured fleet, and highly trained personnel, CashTrans ensures the safe and timely transportation of
cash, reflecting SIB’s focus on security and reliability.

The partnership encompasses a comprehensive suite of services, including secure CIT operations and efficient cash processing. These offerings will
be supported by CashTrans’ advanced cash centre facility, which will handle currency processing and provide secure banknote vaulting on behalf of
SIB.

Commenting on the partnership, Hakam Abu Zarour, COO at Sharjah Islamic Bank, said: "At SIB, our objective is to streamline the cash cycle
process with seamless transportation of daily cash and to be carried out with the highest security and reliability standards. Our strategic partnership
with CashTrans empowers us to streamline cash flow between our branches, minimize losses, reduce risks and gain better control over cash
deposits.”

“This strategic partnership highlights the shared vision of CashTrans and Sharjah Islamic Bank to deliver seamless, high-quality cash management
solutions while maintaining the highest industry standards,” said Muhammad Haroon, Head of Operations at CashTrans. “We are honoured to
support SIB in enhancing its cash management operations.”

With this collaboration, CashTrans and SIB aim to solidify their positions as leaders in the banking and financial services sector, embracing innovation
to meet the evolving needs of customers and businesses alike.

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