Links WebJust another WordPress weblog

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 headoffice in Dubai and will give Dubai Bank significantly greater leverage toits trade finance function. It will aid the bank in monitoring its executionof Letters of Credit, guarantees and collections - giving a crucial broadview of the bank’s operations and allowing greater breadth and depth infunctionality across financing. On behalf of Dubai Bank, Faizal Eledath, Chief InformationOfficer, comments, “In the last three years we have seen significantdevelopment in the Middle Eastern banking market. The trade finance market inparticular is expanding rapidly and it is important that we have theback-office functionality to support our market-leading position. Thisimplementation of Misys Trade Innovation gives us a key competitive edge andallows unparalleled market positioning in the international trade arenaacross the region.” Ali Al Hashimi, Chief Operating Officer of Dubai Bank statesthe importance of this agreement with Misys, “International trade finance hasseen many changes over the last few years, with reliance on open-accounttransactions growing. One of our strategic imperatives is to have thecapability to deal with this and cater for any potential, future change. Weare confident that the solution from Misys, coupled with their expertise andin-depth trade finance knowledge will support us well as we continue toexpand the business”. On behalf of Misys, Roy Froud, General Manager, Middle East &Africa, adds, “Misys Trade Innovation gives Dubai Bank an unrivalled facilityfor meeting the demands of the current trade finance market, both in ensuringlevels of service to customers and in providing full back-officefunctionality. Working in such a fast-moving market as the Middle East is achallenge for any financial institution and we are delighted to be able toequip Dubai Bank with the best solution for their needs in this key region.” About Misys plc Misys plc (FTSE: MSY.L), provides integrated, comprehensivesolutions that deliver significant results to organisations in the financialservices and healthcare industries. We maximise value for our customers bycombining our deep knowledge of their business with our commitment to theirsuccess. In banking and treasury & capital markets, Misys is a marketleader, 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 physiciansin 18,000 practice locations and 600 home care providers. Misys employsaround 4,500 people who serve customers in more than 120 countries. We aspire to be the world’s best application software andservices company, delivering results for the most important industries in theworld. 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.comMisys plc