BML Istisharat provider of Banking, Insurance and ERP software products has landed two deals with regional banks
Lebanon based BML Istisharat a globally recognized provider of Banking, Insurance and ERP software products has landed two new deals with leading regional banks: Bank of Beirut and Lebanon & Gulf Bank.
BEIRUT, March 2014 – Lebanon based BML Istisharat a globally recognized provider of Banking, Insurance and ERP software products has landed two new deals with leading regional banks: Bank of Beirut and Lebanon & Gulf Bank.
ICBS Loans for Bank of Beirut
Bank of Beirut – a sizeable tier-1 player in its domestic market – with 60 branches and a range of retail & corporate banking offerings, also active in the UK, Germany, Cyprus and Oman and operating in Australia under the Bank of Sydney brand with representative offices in Nigeria, Ghana, Dubai and Libya.
Has selected BML Istisharat’s ICBS systems to support these operations both at home and abroad. With ICBS initially being deployed at the bank’s head office in Beirut, followed by rollouts in Europe and The Gulf.
The new lending platform – which will run on Unix/Oracle – is intended to interface with Bank of Beirut’s existing core legacy system.
ICBS Capital Markets for Lebanon and Gulf Bank – Beirut
Whilst Lebanon & Gulf Bank (LGB) a smaller tier-1 player with 17 branches in Lebanon and a subsidiary in Cyprus and offering retail & corporate banking services. Are set to modernize their treasury and capital markets. Selecting ICBS system for its TCM activities. The new system – running on Oracle/Windows will be supporting: FX, Shares, Bonds, Futures & Options and capital markets front office with their respective Swift interfaces.
Commenting on the above achievements, Joe Faddoul, CEO of BML Istisharat said, “We are very happy about the recent agreements that demonstrate the success of our strategy. We remain focused on emerging markets and expect more contracts and training agreements close to year-end. Our priority now is to maintain strong presence in our existing markets and to develop and solidify our position worldwide”
In addition to these recent successes the company has announced deployments in Sharjah – going live with ICBS for Invest Bank. Whilst in Lebanon – deploying the latest upgrade to the ICBS money market module for Credit Bank.
“We are always happy to engage in these partnerships through the world. The deal solidifies BML Istisharat’s position as the one of the leading suppliers of core banking and insurance software in the emerging countries in Africa, the Middle East, South East Asia and elsewhere,”
“We are always happy to engage in these partnerships through the world. The deal solidifies BML Istisharat’s position as the one of the leading suppliers of core banking and insurance software in the emerging countries in Africa, the Middle East, South East Asia and elsewhere,” said Joe Faddoul, CEO of BML Istisharat
BML Itisharat has been delivering core banking and insurance software since 1972. The company’s core banking and insurance software solutions are running on the computers of more than 300 clients worldwide, including fortune 500 companies. According to International Banking Systems (IBS) – UK sales leagues table (2016) — industry’s leading ranking –, out of top 88 banking systems, BML Itisharat is currently number 6 globally, ranking the company amongst the leading Core Banking Systems vendors. Moreover, BML Istisharat has been continuously selected by Gartner for its ‘’Magic Quadrant’’ for the last ten years.