Egyptian Saudi Finance Bank rolls out Islamic banking solutions

Egyptian Saudi Finance Bank (ESFB) is to deploy a new Islamic banking solution to provide more efficient services to its customers.

The Egypt-based bank will roll out the latest version of Misys’ Islamic banking solution, Misys Equation 3.9, to provide improved Shariah-compliant banking solutions at its Cairo head office plus eleven branches across the country.

The retail banking solution will be also be pre-integrated with the Misys Trade Innovation trade finance solution, to give more efficient management of processes, and to more easily provide new products and services to customers.

Ashraf El-Ghamry, chairman of ESFB said: “Misys has a great reputation in the region and was top of our list of companies to speak to. We are very impressed with how its solutions will help ESFB to modernise its operations and deliver Sharia-compliant solutions to our customers. This is a very exciting time for banking in the Middle East and we are proud to be leading the way in delivering modern Islamic banking.”

Roy Froud, Head of Middle East and Africa, Misys Banking, commented: “With a strong client focus, ESFB understands exactly what it wants to offer its customers and how technology can play a key role. The Middle East is an important region for Misys and we look forward to increasing our presence here and helping ESFB meet its business goals going forward.”

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