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Technology in Islamic Banking
and Finance
January 2005
Kuwait Finance House
implements Oracle E-Business Suite
Kuwait Finance House has completed the deployment Oracle
Human Resources Management Systems and Payroll modules of
the Oracle E-Business Suite. The E-Business Suite modules
included in the project included Oracle HRMS (Human
Resources Management System), Payroll, Oracle Training
Administration, Oracle Self Service and Oracle Business
Intelligence. The broad implementation automates all aspects
of routine human resources management.
UAE: Finance House to deploy
TEMENOS T24
UAE based Finance House announced that it would
implement TEMENOS T24 from Swiss based Temenos Group. Finance House
will be launched in March 2005, with a capital of AED 200m,
offering consumer and commercial financing services,
including Islamic finance, for Abu Dhabi. The installation
will begin with conventional banking, for both corporate and
retail products. This will then be followed by Islamic
banking, where TEMENOS will implement fully
Shariah-compliant products. Thereafter, Finance House
intends to roll out internet banking for all its customers.
Malaysia: TCS implements Takaful solution at Syarikat
Tafakul
TATA Consultancy Services Malaysia has completed first
phase Takaful solution for Syarikat Takaful Malaysia. The
system is expected to be fully operational by mid-2005. The
project involves of design & development of a comprehensive
Islamic insurance solution, called Takaful Integrated
System. The total cost of the project is about $2.3-million.
TCS Malaysia would oversee the planning, implementation,
testing and end-user training, while TCS' offshore centers
in India will manage the capacity planning, design,
development and data migration for this project.
Arab Bangladesh Bank to implement Leads Islamic banking
solution
Arab Bangladesh Bank Limited and LEADS Corporation
Limited signed an agreement in the city recently to
introduce PcBANK2000 Islamic Banking Version as its banking
application software for their Islamic banking branches.
This is a fully integrated real-time on-line Application
Software package. The Software will operate on DELL
Platform. Currently over 400 branches of 17 local and
foreign banks are using LEADS' Banking Application Software.
Qatar Islamic Bank to implement Captaris workflow system
Qatar Islamic Bank (QIB) has chosen Captaris Workflow to
automate the Investment Applications Follow-up system, one
of the bank's core business applications. As a second stage,
the bank will use Captaris Workflow to organize its human
resources operations and employee self service applications.
Eventually, QIB plans to deploy around 50 workflows that
will automate most of its internal operations. Captaris
Workflow provides business process workflow for
organizations in any Microsoft or enterprise application
environment.
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