Navigation Links
AlBaraka Islamic Bank Builds on a Long-Term Partnership With Misys Selecting Misys Equation and Trade Innovation for its Pakistan Operations

LONDON, November 4 /PRNewswire-FirstCall/ -- AlBaraka Islamic Bank has announced that it has selected Misys Equation and Misys Trade Innovation for implementation across its 20 branches in Pakistan. The new contract builds on a number of previous contracts with the AlBaraka Banking Group (ABG) and Misys across Africa and the Middle East.

Shafqaat Ahmed, AlBaraka Islamic Bank's Country Head Pakistan said, "As part of our growth strategy involving conversion of our Pakistan Operations into an Islamic Bank registered in Pakistan, paving the way for significantly enhancing our branch network and customer outreach, AlBaraka Islamic Bank in Pakistan has chosen Misys Equation as its new banking system. This will support its growth and diversification and would provide us a common banking system platform with our parent company, AlBaraka Banking Group, Bahrain and subsidiary banking companies spread over 12 countries. AlBaraka Islamic Bank's choice of Misys Equation is based on Misys' ability and strength to fully support AlBaraka's Islamic Banking needs, its strong risk management and compliance policies and its need for strong parameterisation attributes in a system, to support the bank's ongoing efforts aimed at innovative new product development."

AlBaraka Islamic Bank hopes that its choice of Misys Equation would also complement its high priority objectives of state-of-the-art technology that brings customer service-driven efficiency and a transparent Management Information System, since Misys Equation is an integrated, real-time, multi-currency banking system that supports delivery of competitive products and excellent customer service for both, consumer and corporate banking, within a single platform.

Moreover, AlBaraka Islamic Bank's strength in Trade Financing services will be enhanced and complemented by Misys' award-winning trade services solution, Misys Trade Innovation, and the company's IFM Internet Banking solution which are also licensed as part of the deal.

With the Misys solution being implemented in its three locations, in addition to Pakistan, AlBaraka Banking Group is moving towards a truly integrated banking system throughout more than 250 branches in 12 countries and its planned future worldwide locations, which will facilitate meeting its objective of standardised banking operations, product range and reporting system throughout ABG, thus truly unifying ABG into one big global organisation, dedicated to Islamic Banking principles.

Tariq Kazim, DGM Support Services & Overseas Services, AlBaraka Islamic Bank Bahrain, comments, "AlBaraka Bank sees the partnership with Misys as a critical part of our expansion strategy. The superior product capability and market knowledge that Misys brings will help us to develop and launch new products and services to multiple markets more quickly than before. We continue to strive to deliver the best to our customers and are confident that this relationship will help us to achieve our goals."

Roy Froud, Head of Middle East and Africa, Misys Banking, adds, "ABG is one of the most innovative banks in the Middle East and Africa. It has clear expansion objectives in the region as well as plans to grow more internationally and we are delighted that we are expanding our relationship to support that growth with our solutions, supported by our talented team of experts."

About Misys plc

Misys plc (FTSE: MSY.L), provides integrated, comprehensive solutions that deliver significant results to organisations in the financial services and healthcare industries. We maximise value for our customers by combining our deep knowledge of their business with our commitment to their success.

In banking and treasury & capital markets, Misys is a market leader, with over 1,200 customers, including all of the world's top 50 banks. In healthcare, Misys plc owns a controlling stake in Allscripts-Misys Healthcare Solutions, Inc (NASDAQ: MDRX) a clear leader in the provision of healthcare technology, serving more than 150,000 physicians, 700 hospitals and nearly 7,000 post-acute and homecare organisations. Misys employs around 6,000 people who serve customers in more than 120 countries.

We aspire to be the world's best application software and services company, delivering results for the most important industries in the world.
Misys: Experience, Solutions, Results

Contact us today, visit:

For further information please contact:

Edward Taylor

Global Head of Public Relations

Misys Solutions for Banking


Sebastian Mathews

Financial Dynamics


SOURCE Misys plc
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. New book examines disability in Islamic law
2. Misys Facilitates Masraf Al Rayans Expansion of Islamic Banking Operations
3. Fat Builds Up in Hearts Before Diabetes Onset
4. SYMX Builds on Top of New Microsoft Technologies to Offer Hospitals Real-Time Business and Patient Safety Solutions Using RFID Data
5. Telecommunications Technology Boosts Revenue Generation by Billions and Builds Positive Brand Experience
6. Biotechnology Builds a New Heart
7. World Cancer Campaign Builds Momentum Globally with International Initiative to Protect Children From Secondhand Smoke
8. IncentOne Builds More Client Flexibility, Employee Choices Into Its Health Incentive Solutions
9. Kaiser Permanente Team Builds Prosthetic Hands for Charity
10. ECC Builds Innovative, Green Fitness Center at Vandenberg Air Force Base (AFB)
11. Schumacher Homes Builds St. Jude Dream Home(R)
Post Your Comments:
(Date:10/13/2017)... ... October 13, 2017 , ... Coveros, a leader in agile ... a contract by the Center for Medicare and Medicaid Services (CMS). The Enterprise ... use of Agile methodologies in a consistent and high value manner across CMS ...
(Date:10/12/2017)... (PRWEB) , ... October 12, 2017 , ... ... advisory services for healthcare compliance program management, will showcase a range of technology ... Association for Assisted Living (NCAL) Convention and Expo to be held October 14–18, ...
(Date:10/12/2017)... (PRWEB) , ... October 12, 2017 , ... ... products to meet the demand of today’s consumer and regulatory authorities worldwide. From ... probiotic experts and tested to meet the highest standard. , These products ...
(Date:10/12/2017)... ... October 12, 2017 , ... Asante, a nationally ... care, have expanded their existing home health joint venture through an agreement, effective ... operating a joint venture home health company with Asante, delivering clinically integrated care, ...
(Date:10/12/2017)... , ... October 12, 2017 , ... HMP , ... recipient of a 2017 Folio Magazine Eddie Digital Award for ‘Best B-to-B Healthcare Website.’ ... on October 11, 2017. , The annual award competition recognizes editorial and design excellence ...
Breaking Medicine News(10 mins):
(Date:10/4/2017)... Oct. 4, 2017  According to the Centers for Disease Control and ... October . PhysicianOne Urgent Care is helping communities across Massachusetts ... , by offering no-cost* flu shots through the end of the ... certain health insurance regulations. ... time to get a flu shot is by the end of October, ...
(Date:10/2/2017)... Halo Labs announces the European launch of their new ... at MIBio 2017 in Cambridge, U.K on ... in biopharmaceutical samples with unprecedented speed and sensitivity while using far ... Membrane Imaging. ... particle analysis system ...
(Date:9/27/2017)... Israel and NEW YORK , Sept. 27, ... with mobile health and big data solutions, today announced that its MyDario ... Please check your local TV listings for when The Dr. Oz Show ... ... season this month. ...
Breaking Medicine Technology: