Bank introduces E-mandate service to streamline direct debit payments in Oman

MUSCAT, Oman (MNTV) — Bank Nizwa, Omani Sultanate’s largest Islamic financial institution, has launched an electronic mandate (E-mandate) service to facilitate direct debit payments, in line with Oman’s drive toward digital transformation.

The service, introduced under the Central Bank of Oman’s regulatory framework, is designed to simplify recurring payments for both retail and corporate clients by automating transactions such as utility bills, rent, subscriptions, and scheduled transfers.

Through the new platform, customers can electronically create, modify, or cancel mandates, as well as set up payments at varying intervals, reducing the need for paper-based procedures and enhancing cash flow management.

Bank officials said the initiative is expected to lower operational costs, minimize reliance on cheques, reduce processing times, and mitigate risks linked to human error. 

For businesses, the system enables automation of payroll, subscription fees, and other routine disbursements.

“The E-mandate service for direct debit reflects our commitment to advancing digital innovation within Islamic banking while offering secure and flexible financial solutions tailored to customer needs,” said Mohammed Iqbal Al Balushi, assistant general manager of operations at Bank Nizwa.

He noted that the launch responds to rising demand for automated financial solutions in Oman, as the country accelerates its transition to a digitally enabled economy.

As a pioneer in Sharia-compliant banking, Bank Nizwa said the introduction of the E-mandate forms part of its broader strategy to promote financial efficiency, sustainability, and digital resilience across the Sultanate.