Info Drive - Press Release
Info Drive Software Ltd has announced the successful 'go live' of its Islamic Banking implementation project for RHB Islamic Bank, a leading financial services institution in Kuala Lumpur, Malaysia.
The Company had, through its wholly owned subsidiary Bhari Information Technology Systems Sdn Bhd (Bitech), received a turnkey mandate from RHBIB, third largest bank in Malaysia with over 200 offices, to consult, design & implement the complete Islamic Banking Software Solution on an enterprise scale with a total value of RM 26.5 Million. This mandate is reckoned to be the single largest implementation project yet in the Islamic Banking segment.
Commenting on this significant milestone Bitech's Country Head - Mr. G Manoharan, has attributed the success to Bitech's expertise, proven program management practices and rapid resource mobilization combined with the Bank's approach in treating Bitech as a strategic business partner rather than as a mere systems integration vendor.
According to the World Islamic Banking Competitiveness report unveiled at the 14th World Islamic Banking Conference in Bahrain today, the Islamic banking segment is growing at a phenomenal rate and expected to have assets under management in excess of $1 trillion by 2010. This presents a huge opportunity for specialized service providers like the Company to achieve its ambitious growth plans by executing several turnkey projects in this uncontested market niche.
The Company had, through its wholly owned subsidiary Bhari Information Technology Systems Sdn Bhd (Bitech), received a turnkey mandate from RHBIB, third largest bank in Malaysia with over 200 offices, to consult, design & implement the complete Islamic Banking Software Solution on an enterprise scale with a total value of RM 26.5 Million. This mandate is reckoned to be the single largest implementation project yet in the Islamic Banking segment.
Commenting on this significant milestone Bitech's Country Head - Mr. G Manoharan, has attributed the success to Bitech's expertise, proven program management practices and rapid resource mobilization combined with the Bank's approach in treating Bitech as a strategic business partner rather than as a mere systems integration vendor.
According to the World Islamic Banking Competitiveness report unveiled at the 14th World Islamic Banking Conference in Bahrain today, the Islamic banking segment is growing at a phenomenal rate and expected to have assets under management in excess of $1 trillion by 2010. This presents a huge opportunity for specialized service providers like the Company to achieve its ambitious growth plans by executing several turnkey projects in this uncontested market niche.
posted by Admin at
Friday, December 14, 2007
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