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2/25/25, 9:51 AM Sharjah Islamic Bank Partners with CashTrans for Cutting-Edge Cash Management | Web Release

BUSINESS AND ECONO…
Sharjah Islamic Bank Partners With CashTrans For Cutting-Edge Cash Management

By Editor_wr Last updated Feb 24, 2025

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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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