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in the country at the end of 2013 and 50+ other forms of investment companies and other institutions. BML Istisharat has traditionally done well in its own


backyard, while Capital Banking Solutions, which is majority owned by Lebanese financial institution, Bank Audi, has seven users in the country, including Bank Audi itself. However, these two don’t have everything to themselves, with other suppliers, including the treasury system ones, gaining wins from time to time. In 2010, for instance, the recipients had been Capital


Banking, but also Misys with Opics, ICSFS (Bank of Baghdad’s new operation in the country), Murex and Nucleus. In 2011, BML had won two of five deals in the country


that year, Capital Banking gained Cedrus Invest Bank, Nucleus won an off-the-record deal, and ICSFS gained Jammal Trust Bank (JTB). In 2012, Lebanon was considerably quieter, with just a


couple of orders. Start-up, Levant Investment Bank, went for the tried and tested in the form of BML’s ICBS. However, another Lebanese bank chose to go with French supplier, SAB. Another start-up, Investbank, a subsidiary of one of UAE’s oldest banks, also went the BML route in 2013, the only deal in a notably quiet year in the country. Lebanon is home to one of the industry’s longest running


core banking system projects, with this still rumbling on in 2013. It is at Banque Libano-Francaise (BLF), which selected Temenos’ T24 with a range of Oracle components back in 2007. The phased roll-out was meant to span three years, across head office and international branches. Since then, the focus has been firmly on the bank’s domestic operations, where it has around 50 or so branches. A cutover to T24 finally happened in August 2013, after which the focus moved to the Oracle components. Bank of Beirut is a major customer of Misys in Lebanon, using a wide range of the supplier’s offerings, including Bankmaster (a move to Bankfusion Universal Banking is on the agenda), Sophis Risque and Value, and Trade Innovation. 2014 saw Capital Banking gain a deal at Banque de


l’Habitat, a housing finance lender, to replace a 20-year old Cobol-based system. There was also an off-the-record deal for Oracle with Flexcube. Société Générale de Banque au Liban (SGBL) signed to implement T24 for retail, corporate and private banking, for Lebanon as well as Jordan and Cyprus. This was to replace BML’s ICBS and the selection was in parallel with a wider global selection by the bank (seemingly also ending up with T24, with a decision in early 2015). Bank Audi S.A.L. award Intertech contract for their Interface system in 2015.


Oman


Oman saw a regulatory-driven spike in 2012, as a result of the ruling that banks needed to separate conventional from


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Islamic banking. That flurry of activity had Path Solutions as the main


beneficiary, gaining four deals for its iMAL system. Traditional regional rival, ITS, picked up the other core selection, at National Bank of Oman. The year’s other deal was a treasury win for Sungard with Quantum/Ambit Treasury, also at National Bank of Oman. The latter win followed another the year before for Sungard at HSBC. Before the 2012 rush, Path had won the other deal in the


country in 2011, at Ahli United Bank. Prior to this, the deals had been few. Nucleus had picked up three retail lending selections across 2009 and 2010, the central bank had opted for what was Trema’s Finance Kit (now the Wallstreet Suite from Wall Street Systems) in 2009, and Infosys gained a notable core banking system deal the year before from Bank Dhofar. It is worth noting that one of Path’s 2012 wins was at Bank Dhofar’s new Islamic banking unit in the country, dubbed Maisarah Islamic Bank. The system was launched at the bank’s two Islamic branches in Dhofar and Muscat on 3rd March 2013, after an eleven-month roll-out, and runs alongside Finacle, which had gone live for retail banking in 2010. Another taker for iMAL was the country’s first standalone Islamic bank, Bank Nizwa. The bank officially launched operations on 10th January 2013 with three branches. Bank Sohar followed a few months later after a ten-month project.


In 2015, only 1 Universal banking


contract was awarded and which was to Infosys. Into 2013, Alizz Islamic Bank, a new Shari’ah-compliant bank in Oman, signed with Oracle FSS for Flexcube. The bank, which is targeting retail, commercial and corporate customers, officially opened in the first week of October. While iMAL was among the systems rejected here, Bank Muscat, the largest bank in Oman, did select the Path Solutions offering during 2013 for its Islamic banking window, Meethaq. As these were the only two deals of 2013, it was an appreciably quieter year than the relatively hectic 2012. Bank Muscat was also busy in 2014, selecting Murex’s MX.3 for treasury. Six commercial banks have 90 per cent of the assets and


there has been talk of consolidation. HSBC acquired Oman International Bank’s operations to form HSBC Oman during 2013. The new Islamic sector is estimated to take six to eight per cent market share in the next three to five years.


Palestine


ICSFS dominates in Palestine. It scooped all six wins recorded from 2007 to 2013, inclusive. In 2013, it added the Palestine operation of Jordan-based Bank Al Etihad, plus an off-the-record local bank. Path Solutions has a Palestine site at Arab Islamic Bank, which added the iMAL internet banking module in 2012.


Market Dynamics Report www.ibsintelligence.com


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