Oman Arab Bank signs MoU with Majan University College for e-payment gateway

Oman Arab Bank (OAB) has recently signed a Memorandum of Understanding ( MoU) with Majan University College (MUC) for the implementation of an e-Payment Gateway System.

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The new gateway will facilitate the introduction of online payments via the college’s website and mobile app. It will also see the introduction of new payment kiosks at the college premises. In addition, the University College signed with OAB for an easy payment plan agreement which allows OAB credit card holders to avail a 0 percent interest installment plan for up to 12 months. This offer will be available for undergraduate students on specified days during the registration period every semester.

Both MoU’s were signed on Wednesday, July 10, 2019, at the OAB headquarters in Ghubra. Representing MUC at the event was Dr. Maha Kobeil, Dean of Majan University College, Rashid Amir Mohamed Al Musalhi, the Vice Chairman of the Board of Directors, and Amr Ebeid, the Financial Controller of Majan University College, while OAB was represented by Fahd Amjad, GM of the Retail Banking Group. Also in attendance were members of senior management and staff from the Bank and the College.

Commenting on the signing of the MoU, Fahd Amjad, said, “This partnership with Majan University College marks yet another milestone in the growth of our e-payment gateway business. The signing of this agreement is also in line with our objective of establishing synergies and partnerships that will advance the country’s shift towards a completely digital future – a key pillar of our operational strategy.”

The OAB e-payment gateway has been developed with the very latest technology and to the highest standards of security. This is to ensure its conformity with the demands of both local and global regulators and security control standards, including the Payment Card Industry Data Security Standard (PCI DSS). It has been designed to help streamline payments made to merchants, allowing them to benefit from reduced administrative costs and time to follow up and collect recurrent payments from customers.  This, in turn, guarantees a consistent cash flow.

“We are glad to have partnered with OAB for the implementation of their established e-payment gateway at our college. Their gateway has a proven track record of reliability and speed that, when coupled with the introduction of the new payment kiosks and the gateway’s direct integration into our website and mobile app, will provide added convenience for our customers. It will also ensure that the entire process is much faster and more cost efficient for us,” added Dr. Maha Kobeil.

“We are quickly establishing ourselves as a key player within the education sector with our e-payment gateway having already been implemented at Buraimi College and Sohar University. We have also signed an MoU for the implementation of our gateway at the Ministry of Education, which is expected to go live soon,” concluded Fahd Amjad.

Majan University College was established in 1995 as the first private sector college in Oman, and has continued to be at the forefront of higher education in the Sultanate ever since. In December 2017, MUC achieved full institutional accreditation from the Oman Academic Accreditation Authority (OAAA), maintaining its reputation as a trailblazer by being the first higher education institution in the country to do so. MUC is located on a single campus in Darsait which is home to a multi-cultural academic community with more than a hundred staff from various countries and a student population of over 3,500. MUC is an accredited college of the University of Bedfordshire, UK, and operates under the supervision of the Ministry of Higher Education, Oman.

Oman Arab Bank has a rich and proud history as one of the first financial institutions to be established in the Sultanate. Today, the bank operates a nationwide network of 65 branches and representative offices with 152 ATMs spread across Oman. OAB provides a complete range of financial products and services for personal banking, corporate banking, and investment clients.

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