GENERAL INFO
HQ: Beirut, Lebanon Ownership: Private Founded: 1972 # Islamic Users: 73 # Staff: ~100
Key Clients: Cairo Amman Bank, Saudi National Commercial Bank, Jordan Islamic Bank, BLOM Bank (UAE & Qatar)
Company Overview
• BML Istisharat is a recognised provider of banking, insurance & ERP software products
• The company has a Middle East base amongst mid to low-end banks for universal banking solutions, ICBS
• All key Islamic banking functionalities are supported Product Overview
• Key functionalities: GL, customer deposits (current, savings, call and time deposits), remittances, FX, MM, capital markets, branch automation, Islamic profit distribution, Islamic advances, trade finance and specialised investments
• Strong core functionality and flexibility Key Highlights
• Majority of the customers are in the Middle East with a few in Western Europe and Africa
BML Istisharat ICBS
This long-standing supplier has largely a Middle East base amongst mid- to low-end banks for its universal banking solution, the Integrated Computerised Banking System (ICBS). This was developed with a group of banks in Lebanon and runs on the iSeries, Unix, Linux and Windows, the latter three with Oracle. It should not be confused with Fiserv’s ICBS (now Signature). The BML version is a retail and corporate banking back office system, with limited treasury, which was first developed in 1978 and became commercially available in 1981. It is sold directly by BML in Lebanon, France and the US. There have also been a few distributors including Bull. The company survived through 15 years of war in its home country, largely on exports of ICBS plus systems for insurance, manufacturing and distribution. In its chosen markets, ICBS competes against the likes of Temenos’
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Globus/T24, Misys’ Equation and ICS’s Banks. It clearly does well domestically, with facilities such as a Beirut Stock Exchange module. The system is 24x7, multi-currency and multi-lingual as well as being Shari’ah-compliant, with a broad range of Islamic banking functionality supported. It can be implemented as a stand-alone solution or across a branch network with real-time links to the central server. There is good depth of functionality, including for accounting, and flexibility, with a lot of parameterisation. The supplier has ambitions beyond its traditional markets. In early 2000, BML’s French subsidiary, Infoel, signed an agreement with GFI Informatique whereby the latter would distribute ICBS in Africa. GFI is a France-based service company employing over 5000 staff and active throughout Europe and Africa. In April 2001, Caisse de Dépôt et de Gestion (CDG) in Casablanca signed for ICBS, using Oracle
Islamic Report
www.ibsintelligence.com
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