Leading Core Banking Software Provider Strengthens Position in Emerging Markets
BML Istisharat, a leading provider of core software solutions for banking and insurance sectors, as well as application software development for manufacturing and distribution companies, continues to supply international institutions with their advanced products and services.
Beirut- BML Istisharat, a leading provider of core software solutions for banking and insurance sectors, as well as application software development for manufacturing and distribution companies, continues to supply international institutions with their advanced products and services. The company has subsidiaries in the United States and France, as well as a network of contributors in over 15 countries. Moreover, BML Istisharat works with more than 300 leading corporations globally, including fortune-500 companies, such as Citibank, Banque Populaire, AXA, and many more.
BML Istisharat has recently added six new contracts to that list. APS Bank, a universal bank located in Malta, acquired all Integrated Computerized Banking System (ICBS) modules.APS preferred ICBS over Flexcube, which is the number 2 banking system provider worldwide. Al Mawarid Bank, located in Beirut, obtained the ICBS Capital Markets module, which will be incorporated with the bank’s core banking. Other companies using ICBS for their operations include Arab Investment Bank and IBL Invest. Furthermore, Libank and BLC Bank went live with the ICBS Money Market and Capital Markets modules at the end of 2014. Also up and running on ICBS since October 2014 is the International Bank of Somalia, with ICBS Core, Financing modules.
TFM in Dubai, Taoseel in Basrah, and Taif Shipping in Basrah all acquired the Industrial Manufacturing And Distribution system (IMAD), which supports the financial, administrative, production, and distribution activities of Manufacturing and Distribution companies. Erbil Bank in Erbil, Iraqi Kurdistan, already a user of ICBS, obtained the IMAD Human Resources and Fixed Assets modules. TFM in Dubai has deployed IMAD General Accounting and Fixed Assets modules since December 2014.
“Our innovative thinking and the common goal of achievement and success we share with our partners and clients is what distinguishes us from our competition. Our goal to maintain and strengthen our position as a leading provider of core banking software solutions in the emerging markets.”
BML Istisharat held training on their innovative software in Beirut. In attendance was a team from BLOM Bank-France, a leading bank in Lebanon, who were trained on the IMAD Fixed Assets module. Moreover, TFM-Dubai, TAIF Shipping-Basrah, and Taoseel-Basrah all attended training on IMAD General Accounting, Fixed Assets, and Budget Control modules. A team from Shatt Al Arab Insurance Company (SAIC) was also present for their training on CIRIS modules Policy Administration Medical and Reinsurance.The company sponsored an event organized by Thomas Reuters called “The Governance, Risk and Compliance (GRC) Roundtable Series.” Antoine Faddoul, Assistant Director in the Banking Unit, represented BML Istisharat. Antoine stated, “The event was attended by GRC specialists and bakers to discuss the key challenges we face. We covered topics like Compliance and KYC, Fraud Management, and Enterprise Risk Management.”
BML Istisharat was selected in Gartner’s Magic Quadrant for International Retail Core Banking for the 10th consecutive year, and was chosen due to their product’s functional coverage, and their customer support and implementation experience. Joe Faddoul, Chairman of BML Istisharat, states, “The company has one of the higher-ranked scores among surveyed customer references, which is why we were selected.” Faddoul continues, “Our innovative thinking and the common goal of achievement and success we share with our partners and clients is what distinguishes us from our competition. Our goal to maintain and strengthen our position as a leading provider of core banking software solutions in the emerging markets.