The Ministry of Education and ANZ Bank have signed an agreement for transactive banking.
Transactive Banking is a convenient web‑based transactions banking platform providing convenient access to payments, cash management and trade functionality.
While officiating at the agreement signing, Minister for Education, Aiyaz Sayed-Khaiyum says that they have found out that a number of transactions that the Ministry does on a daily basis are payments done by cheques.
Sayed-Khaiyum says when they do transactions using cheques, it means there can be delays and mistakes made.
ANZ Bank CEO, Saud Minam says that Transactive is now the one of the safest and easiest mode of transactions today.
Minam says that these are online transactions.
