FACTS for financial markets

Jordanian based Future Applied Computer Technology (FACT) is pushing a wide range of its software solutions at this year's show.

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By  Matthew Southwell Published  October 18, 2001

Jordanian based Future Applied Computer Technology (FACT) is pushing a wide range of its software solutions at this year's show.

Although the company covers a number of industries, it is particularly strong in the financial sector where its OraBank offering helps process banking transactions on a interest free basis and BanXware deals with Islamic finance dealings according to Sharia principles such as Murabaha and Musharaka.

The company has already implemented a selection of these solutions throughout a number of Middle East banks, such as Jordan Islamic Bank and Saudi Finance Bank. In each case, FACT has allowed the bank to automate processes such as accounts receivable and payable, inventory, sales and standing orders.

"At Gitex this year we are promoting a number of our solutions as well as expanded the scope of our market," says Nabil As-ad, general manager, FACT.

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