Mala’a signs a Membership Agreement with Global Money Exchange

Mala’a signed a membership agreement with Global Money Exchange to utilize Huwiya (Electronic Know Your Customer) service. This service is designed to digitally onboard customers and simplify electronic customer identity verification.

This partnership is the first of its kind for Mala’a, bringing the Money Exchange sector into its membership fold.

The agreement was signed by Mr. Bassam Al Jamali, Mala’a General Manager, and Mr. Sonam Dorji, Global Money Exchange General Manager. Through this partnership, Mala’a aims to align with the Sultanate’s vision for developing financial technology, contributing to sustainable development of the nation.

Huwiya is set to revolutionize the AML and compliance requirements in the Sultanate, by enabling members to instantly access their customers’ data through a connection with public and private databases. This platform enhances efficiency, saving both time and effort for members and their customers.

This collaboration reflects Mala’a’s commitment to empowering the credit industry with innovative tools and solutions, while also fostering the growth of Oman’s fintech sector.