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Dubai Islamic Bank Implements Oracle’s FLEXCUBE

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Points of Essence:

  • Dubai Islamic Bank adopted FLEXCUBE Islamic Bank for its branches and networks.
  • It is a complete banking product suite covering all areas of banking needs, including retail, corporate and investment banking, and is in line with internationally recognised standards. Thus, providing comprehensive solutions for customers greater flexibility, faster processing and a more personalised service.

Dubai Islamic Bank (DIB) and i-flex solutions announced that it has adopted FLEXCUBE Islamic Banking across all its branches and Networks. 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.

As a result of the new system, bank customers can now perform a range of transactions from any of the bank branches irrespective of where their account is lodged. In addition, the bank will be able to provide more customised services, achieve a quicker and more cost-effective launch of future products and lower costs for future products.

“As the world’s first Islamic bank and a leader in the Islamic finance industry, we have strived to maintain our industry leadership through innovative and superior systems and offerings.” said Musabah Al Qaizi, Head of Electronic Banking Service Department. “Our new technical platform is in line with this commitment and will provide a much more personalised and versatile platform for our customers.”

Oracle’s FLEXCUBE is a complete banking product suite covering all areas of banking needs, including retail, corporate and investment banking, and is in line with internationally recognised standards.

Nadeem Bucheri, 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.”

Source:Equity Bulls

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Written by Suapi Shaffaii

July 22, 2008 at 8:10 am

Posted in Technology

Tagged with ,

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