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Head office: 22-G/1, Block-6, PECHS, Karachi, Pakistan Tel: +92 21 3438 1047 +92 21 3455 5299 Email: info@pibas.com Other offices: Sharjah (parent company) Website: www.pibas.com Contact: Zulfiqar Ali, business development executive. Email: zulfiqar.hassan@pibas.com Tel: +92 21 3452 1212 ext.115 Founded: Parent company, Pioneers Computer Company, was formed in 1985. Pibas Pakistan was launched in 1996 Ownership: Privately-owned limited company Number of staff: 22


2012.


The first taker of Pibas was Banque De Djibouti en De Moyen in the Republic of Djibouti, in 1988. The bank implemented the IBM S/34 version. In early 1992, three banks in Pakistan took the Microcomputer-based version of Pibas, followed by three banks in Kenya. Within three years, the vendor grew its customer base to 22 banks in seven countries.


By January 2013, the vendor had nine core banking clients. Domestic takers include BankIslami, which uses the Islamic version of the system, Pibas Shari’ah; SME Bank Pakistan, which runs Pibas for microfinance, lending and treasury; and Rozgar Microfinance Bank, which uses Pibas for main core banking. United Bank Limited (UBL) uses Pibas’ reconciliation solution for its domestic and UAE branches. IGI Investment Bank uses the system for investment banking, leasing/lending and treasury. One core banking client dropped off the Pibas user list in 2012. This was Oman International Bank in Pakistan, as its parent group made a decision to exit Pakistani and Indian operations and to merge the remaining business with HSBC (the entity became HSBC Oman). Habib Group’s financial division has the vendor’s core system installed at a number of international locations, such as Habib Overseas Bank in South Africa and Habib African Bank in Tanzania. Also in Tanzania, the vendor has a subsidiary of Kenya’s NIC Bank (formerly Savings and Finance Commercial Bank) running its complete banking operations using Pibas e-nhance suite. Bank Saderat Iran (BSI) uses Pibas’ products in its subsidiaries


in Oman and Qatar. In Qatar, Pibas, besides the core banking, is used for a centralised clearing interface, with an ECC solution from ProgressSoft. Other modules run by BSI Qatar are for SMS and internet banking, balance sheet regulatory reporting, business relationship, collateral management, trade finance and loans and advances. Meanwhile, BSI Oman’s application of Pibas encompasses core banking, trade finance, loans and advances, full regulatory reporting, electronic clearing, ATM interface and SMS banking. The lack of backing by a big corporate entity and, as a result, the lack of financial backing has hindered Pibas’ expansion, although it managed to penetrate the commercial banking markets of Tanzania and Kenya. But the .Net refresh of the system seems to have also reinvigorated the company’s marketing and promotional efforts. Sharjah-based Pioneers Computer Company now serves as Pibas’ sales and marketing office for GCC and Africa. Further afield, Pibas was hoping to gain a footprint in Canada via an alliance or a more visible direct presence (the vendor already had a small entity in Montreal). Similar moves were planned for the GCC countries (most likely in Qatar) and South Africa.


In Canada and Africa, Pibas planned to push its Islamic banking


software products and services, as well as those for the microfinance sector. The GCC countries and Pakistan would be targeted with all of Pibas’ offerings, which also cover clearing, trade finance and leasing, remote banking, AML, MIS and reconciliation. The vendor estimated that spending on automation across the Gulf countries might reach $500 million in the following two to three years.


Islamic Report www.ibsintelligence.com 204


company details


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