Dubai Islamic Bank rolls out Oracle core banking

Oracle Flexcube to provide full suite of core banking solutions, including Islamic finance, to DIB

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By  Mark Sutton Published  July 30, 2008

Dubai Islamic Bank has completed the roll out of Oracle's Flexcube core banking system to improve its product range and customer service.

The Flexcube solution, which includes retail, corporate and investment banking solutions, will allow the bank to quickly roll out new products and to be able to provide a higher standard of customer services.

The banking solution was deployed during a twenty month long project carried out by Oracle's financial services company Oracle i-flex solutions. Flexcube was tailored to meet Islamic banking standards, and the bank's own IT department also carried out integration work existing applications.

Nadeem Busheri, head of the DIB Information Technology department, said: "We have been working on implementing Flexcube for twenty months, and we are now pleased to announce that this has been deployed across our entire network. This system empowers us with a comprehensive Islamic banking platform and enables us to offer leading-edge Islamic products and services. In addition, it provides us with greater agility for future product development."

S.Sundarajan, Customer Fulfilment, Senior Vice-President, Banking Products, i-flex solutions, said: "We are very happy that DIB has gone live on Flexcube. Our association with DIB, one of the oldest and most respected Islamic banks, is an acknowledgement of Flexcube's ability to meet Sharia requirements. We are confident that this implementation will enable DIB to meet the expectations of its customers for Islamic banking products that compare in innovativeness and versatility with the best that conventional banking can offer."

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