CashTrans forms a strategic alliance with SIB

Sharjah 24: CashTrans, a prominent provider of integrated cash management services and a subsidiary of Al Ansari Financial Services, has revealed a strategic partnership with Sharjah Islamic Bank (SIB). The partnership seeks to deliver a comprehensive range of integrated cash management services, improving the bank’s operational efficiency and financial service systems.

Security and efficient cash flow management

This collaboration demonstrates the dedication of both parties to enhance cash management processes, elevate security standards, and guarantee effective cash flow management for the advantage of Sharjah Islamic Bank and its clientele. Under the terms of the agreement, CashTrans will deliver secure and tailored cash-in-transit (CIT) solutions, specifically crafted to align with the bank's operational needs. The services will emphasise safety, speed, and efficiency by leveraging CashTrans's sophisticated logistics network, experienced personnel, and an extensive fleet of armoured vehicles.

Thorough cash management services

The partnership encompasses a comprehensive array of services, including secure cash transportation and effective cash processing. The integrated cash centre at CashTrans will facilitate these services, managing currency processing and offering secure vaults for banknotes on behalf of Sharjah Islamic Bank.

Executive perspectives on the partnership

Hakam Abu-Zarour, Chief Operating Officer at Sharjah Islamic Bank (SIB), stated, “At the bank, we aim to enhance the cash cycle by ensuring smooth daily cash transportation while maintaining the utmost standards of security and reliability.” Our collaboration with CashTrans enables us to maximise cash flow across our branches, minimise losses and risks, and strengthen deposit monitoring.

Mohammed Haroon, Director of Operations at CashTrans, stated, “This strategic partnership reflects the common vision of CashTrans and Sharjah Islamic Bank to provide seamless, high-quality cash management solutions that meet the highest industry standards.” We take pride in assisting the bank with the enhancement of its cash management operations.

Promoting progress in financial services

CashTrans and Sharjah Islamic Bank are joining forces to enhance their leadership roles in the banking and financial services industry while also promoting the use of innovative solutions to address the changing needs of both individual and corporate clients.