A growth industry

Islamic banking is a growth industry, and not just in the Islamic business sector. Banks from all parts of the world, including Western brands like HSBC, Citigroup and UBS, are moving fast to secure a place in the market. The reason? There is money to be made in Islamic Banking. But therein also lies the challenge. For whilst the profit motive and market forces invigorate Islamic banking as much as any other business, Shariah law forbids certain financial practices that lie at the foundation of traditional commerce, notably lending money on interest. Banks looking to operate in such an environment therefore need partners with a thorough understanding of the sector and proven experience in it.

The Islamic Banking market is now estimated at more than $500bn and is due to will grow at between 10% and 15% annually up to 2010.

Not just a Middle-Eastern model

Although the Middle-East is still home to most of the world’s Islamic banks, a growing number of financial institutions operating in the marketplace are domiciled elsewhere. Local players such as Malaysia’s Bank Islam Malaysia and the United Kingdom’s Islamic Bank of Britain are being joined by Citibank, HSBC’s Amanah and UBS’ Noriba subsidiary.

Our Solutions

Support for Islamic banking principles is needed from software vendors to help banks turn opportunity into profit, and that’s why Misys has created specialist Islamic Banking and Finance solutions:

• Retail banking

  With over 25 years experience in Islamic markets and more than 80 customers in the Middle East, our Equation Islamic Banking and Finance solution helps retail banks to deliver robust and efficient products and services. 

• Corporate banking

  For international banks, our core banking solution Midas provides the key capabilities required to handle Islamic investment instruments and liabilities, as well as profit distribution.

• Treasury

  Misys Opics Plus is the .NET service-oriented, Treasury & Capital Markets solution with unsurpassed STP and back office capabilities It is a comprehensive solution for front-to-back office, cross-asset processing of a wide range of financial instruments. In a single system, it handles vanilla and complex derivatives, fixed income, and equity and treasury trades.