The Central Finance Department of Sharjah and Mashreq Celebrate Their Strategic Partnership in Developing Digital Solutions
In a significant advancement that reflects unprecedented successes in digital transformation, the Central Finance Department of Sharjah and Mashreq celebrated over 15 years of their strategic partnership, which has contributed to the development of digital solutions and the provision of innovative services in the field of government payments. This initiative represents the next step in enhancing efficiency and improving governmental services, solidifying the position of the Sharjah government in this vital area.
Fruitful Partnership Reviewing Achievements
During a joint meeting attended by Sheikh Rashid bin Saqr Al Qasimi, Director of the Central Finance Department of Sharjah, and Huda Al Yasi, Director of the Financial System Administration, the positive impact of this strategic partnership was highlighted. The attendees showcased initiatives and results achieved through the fruitful collaboration between the two parties, including a government payment system that has revolutionized financial operations and facilitated government transactions.
Emphasis on Continuous Innovation
Sheikh Rashid bin Saqr Al Qasimi stated, “We consider this strategic partnership a successful model of cooperation between the government and banking sectors. It has helped us develop innovative solutions that meet the aspirations of the Sharjah government, enabling us to provide advanced digital services that align with our digital transformation goals.” He also noted that collaboration with Mashreq Bank will continue to deliver smarter and more flexible financial solutions, enhancing the efficiency of government services.
Record Achievements and Ongoing Development
The practical results of the partnership have proven to be highly effective, with the number of transactions executed through point-of-sale systems reaching 52 million, in addition to over 10 million transactions conducted through digital wallets. Statistics indicate that the success rate of these operations exceeded 99%, reflecting the reliability of the digital financial system and its importance in delivering exceptional services to clients.
In this context, Vibhur Mahindra, CEO of NewPay, stated, “We take pride in our partnership with the Central Finance Department of Sharjah. This initiative has facilitated the implementation of numerous advanced technologies that have enhanced the payment experience and made government collection processes more efficient.” He emphasized the importance of continuous innovation as a fundamental element in keeping pace with future aspirations in this field.
Toward New Horizons in Digital Transformation
The partnership between the Central Finance Department of Sharjah and Mashreq continues to develop payment systems in line with governmental needs and to keep up with global developments in digital finance. This partnership represents an investment in the future, aiming to achieve innovative goals that enhance the efficiency of government operations and elevate the level of services provided to the public.
The fruitful collaboration between the Central Finance Department of Sharjah and Mashreq in developing digital solutions is not just a step forward; it is a confirmation of the commitment to achieving an advanced digital financial future that aligns with the vision of the Sharjah government in digital transformation and innovation.