VisaNet signs a partnership agreement with Jumhouria Bank
13/03/2022
Visa, the global leader in digital payments technology, has signed a partnership agreement with Jumhouria Bank to assist in digital transformation services, and to expand the customer base. This partnership aims at building a sustainable system for payment via multiple channels and sectors, moreover, to benefit from the best electronic services and products which Visa offers for the bank's customers.
The signing of the agreement was attended by the Deputy Director-General of the Jumhouria Bank, Mr. Nuri Abu Flija, and the Director of Cards and Electronic Services Department, Mr. Osama Bin Ali, along with the President of Visa and the Regional Director for North Africa, Mr. Ahmed Mohyi, the Vice President of the company, Mrs. Leila Sarhan, and the General Manager of the company's office in Libya and Sudan.
The agreement signed between the two parties focuses mainly on card issuance, as the agreement provides support for the bank to enter into acquisition services and accept payments from Visa card holders, whether citizens or foreigners.
The Deputy Director-General of the Jumhouria Bank, "Mr. Nuri Abu Flija," stated that the Jumhouria Bank is considered the largest commercial bank in Libya, as it acquires 45% of the Libyan market and spreads throughout the country.
Mr. Abu Flija stressed the bank's eagerness on providing the best services to its customers, which involves the development of all the services offered by the bank, in addition to introducing new products while keeping pace with the vast development in the banking industry, by providing the best banking systems and databases in order to keep pace with the technology development and digital transformation.
Mr. Abu Flija indicated the keenness of the bank’s management to introduce digital payments in order to benefit the customers, whether individuals or companies, and that the bank is keen to cooperate with Visa, the leading company in this field. This partnership is an embodiment of the strategic relationship between the two parties.
Mr. Abu Filija considered that this partnership is a step for the bank to develop its services and meet the needs of its customers, in addition to training the bank's employees and obtaining advisory services.
In her speech during the signing ceremony, Mrs. Leila Sarhan, the Vice President of Visa and the Regional Director for North Africa, the Middle East and Pakistan, expressed their happiness in the partnership with Jumhouria Bank, the first to introduce everything new to the Libyan banking industry and technologies, furthermore, to launch a package of digital payment solutions for the bank's customers (companies and individuals).
This agreement provides an appropriate mix of services and products that are considered the first of their kind in Libya, in addition to the appropriate retail for both the existing customer base, and the electronic and digital products provided by the bank, in addition to the introduction of new payment flows suitable for individuals, small and medium companies, retailers, merchants, and institutions with multiple and varied payment needs.
This agreement includes the introduction of a variety of leading consumer and commercial products, by designing related products that are in line with the strategy of value proposition to the customers, thus improving customer satisfaction and to attract new customers.
Under this agreement, Visa will support the Jumhouria Bank's ambition in digital transformation through an organized application of a phased approach in line with the decision makers and stakeholders in the bank. The bank will be able to benefit from the VisaNet system for online money transfer services while providing high security standards, data analytics, parallel platforms and value-added services to support the other services that distinguish the bank by the offers it provides to its customers of merchants, companies and major institutions.