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SFD and Shurooq sign an MoU for electronic payment gateway

The Sharjah Finance Department (SFD) and the Sharjah Investment and Development Authority (Shurooq) signed a memorandum of understanding (MoU) where the Sharjah Finance Department will provide an electronic payment gateway (Tahseel) for (Shurooq), which will contribute to enhancing its investment, commercial, and tourism role in the emirate, in line with the strategic vision of digital transformation set out by the Sharjah government.

Waleed Al Sayegh, director general of SFD said, "The MoU comes within the framework of developing prospects for cooperation between the Sharjah Finance Department and the Sharjah Investment and Development Authority. Under the directives and vision of His Highness Sheikh Dr Sultan bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, the SFD is keen to provide support for other departments and institutions within Sharjah. We extend this support through the development of joint financial programs and systems, which will advance the process of achieving sustainable economic development."

Marwan bin Jassim Al Sarkal, executive chairman of Shurooq said, "Efficient and safe financial services form the backbone of businesses and investments in every economic sector. This MoU is, therefore, timed perfectly to add to the appeal of doing business in Sharjah and accelerate the pace of growth and diversification in the Emirate. Simultaneously, this partnership will push the Emirate's agenda of digital transformation and the creation of a comprehensive digital ecosystem with the inclusion of a range of financial services."

According to the agreement, the two parties will work together and hold regular meetings to coordinate work and joint efforts and share knowledge and ideas. The Sharjah Finance Department will assist in identifying the financial and support programmes and systems owned by the government and the electronic systems that Shurooq needs to develop certain procedures.