Oumolat and SICPA Enter Strategic Partnership, Creating 'O&S Security Solutions' JV

Oumolat Security Printing, owned by the Central Bank of the United Arab Emirates (CBUAE), has entered into a strategic partnership with SICPA to print enhanced tax stamps and track activities through the integration of advanced technologies.

The agreement was commemorated through a signing ceremony at CBUAE’s head office, in the presence of His Excellency Khaled Mohamed Balama, Governor of CBUAE, and His Excellency Arthur Mattli, the Ambassador of Switzerland to the UAE and Bahrain. The agreement was signed by Saif Al Dhaheri (Assistant Governor for Strategy, Financial Infrastructure, and Digital Transformation at CBUAE and Chairman of Oumolat), Philippe Amon (Chairman and CEO of SICPA), and Wasim Al Mraqtan (Vice President of SICPA for the Middle East Region).

The agreement aims to bolster the existing collaboration between Oumolat and SICPA, from the enhancement of banknote features to the provision of high-security printing solutions.

As part of the agreement, the two will establish a joint venture (JV) under the name O&S Security Solutions, to be incorporated in the UAE. The JV combines Oumolat’s integrated security and protection systems with SICPA’s high-security inks, authentication, and traceability systems.

O&S Security Solutions will produce and supply enhanced tax stamps in addition to solutions that safeguard tax collection services, among others, both locally and globally.

‘Our partnership with SICPA is part of Oumolat’s ambitious strategy to enhance and diversify its services and provide its customers with secure printing solutions underpinned by the latest security technology,’ Al Dhaheri said. ‘We will continue to work with security printing partners as we look to offer leading solutions that meet the evolving needs of the domestic and international markets.’ 

‘We are delighted to enter into this new strategic partnership with Oumolat, the leading security printing company in the Middle East,’ Amon said. ‘This project marks a new milestone in our century-long evolution in supporting governments globally.’

Wasim Al Mraqtan, Vice President of SICPA for the Middle East Region, added: ‘this partnership opens the door to a promising future of cooperation between Oumolat and SICPA SA, which will benefit the UAE market and wider global market’.

SICPA and Moroccan Science Foundation sign research agreement

In other SICPA news, the company has signed a five-year research project contract with the Moroccan Foundation for Advanced Science, Innovation and Research, which is affiliated with Morocco’s Mohammed VI Polytechnic University (UM6P).

The project will focus on the development of a marking and detection solution that is made in Morocco. The solution will allow manufacturers and other stakeholders to increase the technological tools at their disposal to fight fraud, counterfeiting, and non-compliance of products.

SICPA described the project as an opportunity to expand its technological portfolio in the fields of marking and fraud detection.

Hicham El Habti, President of UM6P and the Foundation said this commitment aims to meet the ‘current needs of the industrial fabric and economic operators to promote ‘Made in Morocco’.