Payment Services

NIB’s payment solutions are geared towards reducing your overall processing costs and time for processing your payment transactions, whether domestic or global, providing convenience and value-added service to your business partners. Our comprehensive payment services are tailored to enhance your accounts payable process and eliminate many manual tasks involved in making payments, allowing you and your staff to spend more time focusing on your core business.

All your payments can be initiated in an efficient and secure manner through Noor Connect, our Corporate Internet Banking solution, to enable smooth transaction initiation, processing and reconciliation by providing real-time status of each payment.

Global Payments

Noor Islamic Bank has an extensive and expanding network of correspondent bank relationships to ensure timely cross border payments. We can facilitate fund transfers in more than 130 currencies globally.

We can also generate financial instruments and drafts in 30+ currencies, which can be dispatched to the beneficiary in their own country or credited through local clearing, regulations permitting.

Remote Cheques

Noor Islamic Bank offers a comprehensive cheque issuance and printing service. Cheques can be printed centrally and dispatched through secure and efficient methods. Cheques can also be processed centrally but printed and collected from selected Noor Islamic Bank branches by your designated and authorized staff.

For customers demanding greater flexibility, Noor Islamic Bank can facilitate cheque printing at your location.

Customized Cheques

Noor Islamic Bank offers customized cheques incorporating your branding guidelines and the latest security standards to prevent fraud or tampering. We have flexibility to customize your cheques in various formats, logo style, and quantity to meet your specific requirements and give you greater control over inventory management, vendor payments and financial settlements.

Bulk Payments

Noor Islamic Bank can manage your bulk payments, whether it is payroll, vendor payments, dividend payouts or utility bill settlements. The payment instructions are sent through Noor Connect, our Corporate Internet Banking solution, and payment is handled by NIB as an internal transfer, local or international payment as appropriate.

Payrolls

Noor Islamic Bank offers a comprehensive payroll solution to employers. Noor Islamic Bank also has the ability to package preferential consumer offerings (such as credit cards, home finance, auto finance, etc) at competitive rates to Corporate employees of who process their payroll through NIB. The employees also benefit from a growing branch and ATM network, 24/7 call centre and alternative channels such as SMS and internet banking.

Noor Islamic Bank is well positioned to offer a Wages Protection System (WPS) compliant payroll solution. WPS came into effect through Ministry of Labour’s Ministerial Decree No. 788 of 2009 and is a joint initiative between the Ministry of Labour and UAE Central Bank. WPS is an electronic salary transfer system, developed by UAE Central Bank and facilitates companies (employers) to pay workers’ wages via banks, exchange houses and financial institutions. WPS aims to safe-guard the wages and protects employees’ rights to receive salaries on time every time thus reducing wage related disputes.