A leading Beirut-based core banking software provider signs new contracts

BEIRUT, July 2015—Since 1972, BML Istisharat has been a leading player in Lebanon’s technology sector, especially in regards to the core banking and insurance software market. With more than 300 corporations utilizing their products and services, BML Istisharat continues to be a top core banking systems vendor in Lebanon, as well as globally. Some of BML’s clients include Swiss Life, Citibank, Bank Simpanan Nasional, among many others.

Furthermore, they have presence in 32 countries, including Malaysia, France, United Kingdom, Bahrain, United States, Qatar, United Arab Emirates, and of course, Lebanon, as well as many others.

With an already-impressive list of clientele worldwide, BML shows no signs of slowing down.  The company has recently obtained new contracts to add to that long list. Al Maseer Insurance, located in Baghdad, Iraq, has selected BML’s CIRIS to support its operations.

Al Maseer Insurance is a non-life insurance company that specializes in Motor, Medical, Fire, Personal Accident, and Travel insurances. With this new service, Al Maseer will be able to manage all their insurance activities, including policy administration, underwriting with different lines of business, claims, reinsurance, statistics, and accounting.

The Beirut company, M.E.B., which is a motorbike dealer, is a subsidiary of SIGMA, a Lebanon-based automotive company. M.E.B. has selected IMAD General Accounting, Stock Management, and Garage and After Sales Management modules to support their operations. They will use the fully integrated computer software system for their industrial management and distribution needs.

Several companies have newly deployed BML’s products. In France, BLOM Bank-Paris has deployed IMAD-Fixed Assets in live mode, and has deployed the SEPA payment and interface system for their banks in Romania. In Iraq, Shatt Al Arab Insurance Company (SAIC) deployed CIRIS in live mode, as well. Moreover, in Kuwait, Gulf Life Insurance Company (GLIC), a user of LIRIS life insurance system, deployed BML’s system on an online web portal using LIRIS web services. In doing this, it has enabled their customers to make payments for premiums and loans, view personal information, obtain policy information, and track their payments history. 

Joe Faddoul, CEO of BML Istisharat, comments, “We want to provide a service to our clients in order to help expand their business. Allowing their customers to view their information and make payments at their convenience is an advantage for Gulf Life Insurance. In the technology era, it is a must.”

BML Istisharat’s forward thinking and ability to adapt to the ever-changing needs of their customers has enabled them to become the go-to company for core banking and insurance software needs.

“Our list of clientele keeps growing as our clients’ companies grow,” says Faddoul.

He continues, “Our success is their success, and vice versa. This is why we continue to be a partner of choice.”