Dubai Bank Enhances Trade Finance Capability With Misys Trade Innovation


LONDON, April 22 /PRNewswire/ --     Dubai Bank, one of the leading Islamic banks in the market, has adopted 
Misys Trade Innovation to strengthen its trade finance operations in the 
rapidly growing Middle Eastern banking market. The bank will implement the 
solution to underpin and reinforce its trade finance function, allowing 
enhanced visibility and management of its day-to-day financing operations 
across its markets.

Misys Trade Innovation will be implemented at the bank's head
office in Dubai and will give Dubai Bank significantly greater leverage to
its trade finance function. It will aid the bank in monitoring its execution
of Letters of Credit, guarantees and collections - giving a crucial broad
view of the bank's operations and allowing greater breadth and depth in
functionality across financing.

On behalf of Dubai Bank, Faizal Eledath, Chief Information
Officer, comments, "In the last three years we have seen significant
development in the Middle Eastern banking market. The trade finance market in
particular is expanding rapidly and it is important that we have the
back-office functionality to support our market-leading position. This
implementation of Misys Trade Innovation gives us a key competitive edge and
allows unparalleled market positioning in the international trade arena
across the region."

Ali Al Hashimi, Chief Operating Officer of Dubai Bank states
the importance of this agreement with Misys, "International trade finance has
seen many changes over the last few years, with reliance on open-account
transactions growing. One of our strategic imperatives is to have the
capability to deal with this and cater for any potential, future change. We
are confident that the solution from Misys, coupled with their expertise and
in-depth trade finance knowledge will support us well as we continue to
expand the business".

On behalf of Misys, Roy Froud, General Manager, Middle East &
Africa, adds, "Misys Trade Innovation gives Dubai Bank an unrivalled facility
for meeting the demands of the current trade finance market, both in ensuring
levels of service to customers and in providing full back-office
functionality. Working in such a fast-moving market as the Middle East is a
challenge for any financial institution and we are delighted to be able to
equip Dubai Bank with the best solution for their needs in this key region."

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 is a market leader, serving more than 110,000 physicians
in 18,000 practice locations and 600 home care providers. Misys employs
around 4,500 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: http://www.misys.com

    For further information please contact:
    Edward Taylor
    Global Head of Public Relations
    Misys Banking
    +44(0)208-486-1661
    edward.taylor@misys.com

© PR Newswire Association LLC.

Latest user comments

News archive

Subscribe to AfterDawn's weekly newsletter.