Core Banking 1


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Core Banking 1

  1. 1. DIB implements Oracle's FLEXCUBE core banking system | Dubai Islamic Bank (DIB) Page 1 of 4 Advertising AME Info - Arabic Version News I want to... Search for... in Go Advanced Search LATEST: Gulf Bank’s blood donation campa DIB implements Oracle's FLEXCUBE core banking system Dubai Islamic Bank (DIB) and i-flex solutions announced that DIB has adopted FLEXCUBE Islamic Banking across all its branches and networks. United Arab Emirates: Monday, July 28 - 2008 at 15:42 PRESS RELEASE Online Investment Offshore Bank Secret Facility With Zero Balance NRI Account from We Advise > 40,000 Expats Globally On ABN AMRO Bank Now! Investment Advice! Register Now. Oracle's FLEXCUBE, a revolutionary banking system, will provide more comprehensive solutions covering all areas of banking transactions. It will provide customers with greater flexibility, faster processing and a more personalised service. DIB celebrated this achievement by honoring the team members who developed this banking system. Khaled Al Kamda, Group Managing Director and CEO of DIB, and Mr Abdullah Al Hamli, Head of Information DIB implements Oracle's FLEXCUBE core banking system. Technology and Operations at DIB, personally congratulated the project's team leaders and the various departments on their effort and dedication in ensuring the new system is fully operational and on schedule. Dubai Islamic Bank (DIB) RSS feed As a result of the new system, bank customers can now 1. Dubai Islamic Bank's first half net profit perform a range of transactions from any of the bank reaches Dhs1.3bn, up 47% branches irrespective of where their account is lodged. 2. Dubai Islamic Bank launches 2nd Al Islami Festival 3. DIB launches Sharia consultancy In addition, the bank will be able to provide more subsidiary, Dar Al Sharia customised services, achieve a quicker and more cost- 4. Dubai Islamic Bank and Parkway effective launch of future products and lower costs for International contracting sign Dhs266m future products. Islamic financing agreement 5. Dubai Islamic Bank and Al Hamad Group sign Dhs824m Islamic financing 'As the world's first Islamic bank and a leader in the agreement Islamic finance industry, we have strived to maintain our 6. Public Prosecution awards Dubai Islamic industry leadership through innovative and superior Bank with certificate of honour 7. DIB concludes seventh annual Iktassib systems and offerings,' said Musabah Al Qaizi, Head of training programme Electronic Banking Service Department. 8. DIB concludes eighth round of 'Emarati' 5/13/2009
  2. 2. DIB implements Oracle's FLEXCUBE core banking system | Dubai Islamic Bank (DIB) Page 2 of 4 training programme 9. DIB announces purchase of anti-money 'Our new technical platform is in line with this commitment laundering system and will provide a much more personalised and versatile 10. DIB, JDC and DIC set to acquire 52% in platform for our customers.' Industrial Development Bank of Jordan Oracle's FLEXCUBE is a complete banking product suite » more Dubai Islamic Bank (DIB) news covering all areas of banking needs, including retail, corporate and investment banking, and is in line with internationally recognised standards. This programme has been adapted to Islamic banking solutions provided by DIB. The bank's Information Technology (IT) department has developed additional programs to integrate FLEXCUBE with other systems. This IT solution has been extensively tested and DIB's staff have been trained in order to avoid any errors that may result during the transition. Nadeem Busheri, Head of Information Technology Department, said: 'We have been working on implementing FLEXCUBE for 20 months, and we are now pleased to announce that this has been deployed across our entire network. This system empowers us with a comprehensive Islamic banking platform and enables us to offer leading-edge Islamic products and services. In addition, it provides us with greater agility for future product development.' S.Sundarajan, Customer Fulfilment, Senior Vice-President, Banking Products, i-flex solutions, said: 'We are very happy that DIB has gone live on FLEXCUBE. Our association with DIB, one of the oldest and most respected Islamic banks, is an acknowledgement of FLEXCUBE's ability to meet Sharia requirements. We are confident that this implementation will enable DIB to meet the expectations of its customers for Islamic banking products that compare in innovativeness and versatility with the best that conventional banking can offer.' See Also » Middle Eastern » HSBC eases » Kuwait cuts » HSBC eases loan banks still personal and auto discount rate to requirements performing well in loan requirements 3.5% international comparison 5/13/2009
  3. 3. DIB implements Oracle's FLEXCUBE core banking system | Dubai Islamic Bank (DIB) Page 3 of 4 DIFC ADD ARTICLE TO Facebook LinkedIn Digg Notes and media contacts Dubai Islamic Bank is a Sharia-compliant financial institution. As such, please refrain from using any of the following terms in reference to the bank and its activities: • Loan • Lender / Lending / Lend • Borrower / Borrowing / Borrow • Credit facility • Advance • Interest About Dubai Islamic Bank: Dubai Islamic Bank (DIB), established in 1975, is the first Islamic bank to have incorporated the principles of Islam in all its practices. DIB is a public joint stock company and its share is quoted on the Dubai Financial Market. The bank enjoys a reputation as a leader and innovator in maintaining the quality, flexibility and accessibility of its products and services. In a very short space of time it has created market leading services and products that are setting benchmarks for the rest of the sector. DIB set a world record by raising a $3.52bn sukuk for the Nakheel Group. This sukuk adopted an innovative structure never used before in Islamic or conventional banking history. The bank has been proactive in creating partnerships and alliances at both the local and international level. DIB has adopted an aggressive expansion strategy, which started with the establishment of DIB Pakistan Limited, a wholly owned subsidiary of DIB. DIB opened its first representative office in Turkey to enhance its access to that market. DIB has also acquired a stake in Al Khartoum Bank and a stake in Emirates and Sudan Bank (ESB). These steps mark DIB's ambitious plans to roll out its operations into regional and international markets as part of its overall strategic plan. DIB has won the respect of its peers around the world. The bank was recently named by Islamic Finance News the UAE's Best Islamic Bank. DIB has also received many awards from international organizations, such as the prestigious 'Bank of the Year - UAE' award from The Banker magazine and additional accolades from Euromoney. About i-flex solutions : i-flex® solutions (Reuters: IFLX.BO and IFLX.NS), majority owned by Oracle, is a world leader in providing IT solutions to the financial services industry. Its strategy for financial services addresses the challenges that financial services institutions are faced with today. Its range of applications software, custom solutions and consulting services enable financial institutions to cut costs, respond rapidly to market needs, enhance customer service levels and mitigate risk. i-flex solutions has sought regulatory and share holder approval to change its name to Oracle Financial Services. Together, Oracle and i-flex solutions offer financial services institutions the world's most comprehensive banking applications and technology footprint to address complex IT and business requirements. i-flex and FLEXCUBE are registered trademarks of i-flex solutions. Daybreak, Mantas and Reveleus are trademarks of i- flex solutions and are registered in several countries. Oracle is a registered trademark of Oracle Corporation and/or its affiliates. All other company and product names are trademarks of the respective companies with which they are associated. For further information, please contact: Ghaleb Zeidan ASDA'A Public Relations Dubai, UAE Tel: 971-4-3355969 5/13/2009
  4. 4. DIB implements Oracle's FLEXCUBE core banking system | Dubai Islamic Bank (DIB) Page 4 of 4 Fax: 971-4-3356080 Louis Jude i-flex solutions London, United Kingdom Telephone: 44 (0) 207 531 4400 Mobile: 44 784 115 1273 Posted by Eman Hassan Monday, July 28 - 2008 at 15:42 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited. Disclaimer: Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to Any opinions, advice, statements, offers or other information expressed in this section of the AME Info Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AME Info Web site. For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions © 1996 - 2009 AME Info FZ LLC / Emap Limited. All rights reserved. 5/13/2009