Sharjah Islamic Bank launches SIB Pay to expand digital payments in UAE

Dubai: Sharjah Islamic Bank (SIB) has launched SIB Pay, a new digital payments platform designed to accelerate the UAE’s transition toward electronic transactions. The platform is the first of its kind introduced by a Sharjah-based bank.

SIB Pay serves government entities and businesses of all sizes, offering secure and efficient payment tools that align with the UAE Vision 2031 digital agenda.

More payment features

The platform supports a wide range of payment options:

• QR code payments compatible with major e-wallets and banking apps

• Soft POS functionality, turning Android smartphones and tablets into payment devices

• E-commerce payment gateway for secure online transactions via websites and apps

• Pay by Link tool, enabling instant payment requests through SMS or email

• Card tokenisation, allowing encrypted storage of card details for recurring or one-click payments

These tools aim to improve convenience, flexibility, and security for both merchants and consumers, while broadening access to digital transactions across sectors.

Digital transformation

Nabil Abou Alwan, Head of Retail Banking at SIB, said the launch marks a key milestone in the UAE’s digital financial landscape.

“SIB Pay reflects our strategic commitment to empowering businesses and simplifying transactions in innovative and secure ways that enhance competitiveness and support the UAE Digital Transformation goals and Vision 2031,” he said.

He added that SIB Pay will “revolutionise customer experiences and open new horizons for companies and institutions to adopt smart and efficient payment solutions.”

By providing a unified, Sharia-compliant platform for digital payments, Sharjah Islamic Bank aims to strengthen its role as a leader in secure, inclusive financial innovation across the UAE.