Dubai Bank to outsource IT projects

Dubai Bank is to turn to outsourcing some future IT projects as a means of augmenting its internal computing resources. Doing so will allow future growth to be supported quickly.

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By  Administrator Published  April 1, 2007

Dubai Bank is to turn to outsourcing some future IT projects as a means of augmenting its internal computing resources. Doing so will allow future growth to be supported quickly.

Faizal Eledath, head of IT at Dubai Bank, said the bank planned to hand out an unspecified number of contracts to external companies over the next few years.

"We will look at opportunities to allow us to scale our support as the bank expands. We will seek to use outsourced resources to augment our internal resources in delivering projects or providing support in such areas as branch and infrastructural support," said Eledath.

However he added that the outsourcing projects would be only part of a "significant investment" in technology over the next three years for Dubai Bank.

The type of project the bank would be looking to outsource would be provision and implementation of products as well as outsourcing of some non-core functions.

The bank would also be considering outsourcing for consultancy services, he added.

Dubai Bank is already negotiating with companies on some of the projects, although Eledath declined to divulge the companies under consideration.

The bank, which switched from being a conventional financial institution to become Shari'a-compliant at the start of the year, plans to significantly expand its services.

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