Reinforcing Commitment to Enhanced Data Security For Its Customers
Muscat: In line with its unwavering commitment to excellence, Sohar International is delighted to announce that it has achieved Payment Card Industry Data Security Standard (PCIDSS) version 4.0 Compliance, marking a significant milestone as the first bank in Oman to obtain this certificate version. This achievement represents the most rigorous industry-recognized payment-card security standard available globally, reinforcing our focus on an enhanced and holistic customer experience. PCI DSS compliance and certification ensure the security of cardholder data through a set of requirements established by the Payment Card Industry Security Standards Council (PCI SSC), considered the best mechanism to safeguard sensitive data and information. This, in turn, helps businesses build long-lasting relationships and instill confidence with their customers and vendors.
Mr. Majid Nasser Al Busaidi, Chief Risk Officer of Sohar International, stated, “With the attainment of the PCIDSS certification, we take great pride in reaching this significant milestone. It reflects our unyielding commitment to ensuring the highest standards of data security, including the continuous maintenance of information security policies, procedures, processes, technologies, and regulations to minimize payment card data theft, misuse, and fraud. This achievement not only strengthens our position as a secure financial institution but also underscores our determination to scale up growth with excellence in all aspects of our operations. It is a clear indication of our continuous investments in people, processes, and technology for enhancing the customer experience by improving overall security measures. This assures that cardholders’ information is protected and secured against any misuse or fraud.”
The Payment Card Industry Data Security Standard (PCI DSS) is a widely acknowledged information security standard for organizations that handle branded credit/debit/prepaid cards from major scams. The standard aims to enhance the overall security of credit, debit, and prepaid card transactions, mandated by the card brands, safeguarding cardholders from the misuse of their personal information. Designed to prevent cybersecurity breaches and mitigate the risk of fraud for organizations handling payment card information, PCI DSS certification brings a multitude of advantages to the bank, significantly reinforcing Sohar International’s commitment to protecting sensitive financial information. This strengthens Sohar International customers’ trust and positions the bank as an industry leader in Oman’s banking industry. Furthermore, the certification aligns with the bank’s strategic objective of establishing an in-house credit card processing facility, providing Sohar International with a distinctive competitive advantage.
Sohar International also acknowledges and appreciates the collective effort put forward by its esteemed stakeholders involved. The commendable loyalty and dedication demonstrated throughout the implementation journey resonate with the bank’s overarching theme of ‘Scaling up Growth with Excellence.’
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