10^th May 2006 - Bosna Bank International d.d. Sarajevo (BBI), the first bank in Bosnia and Herzegovina to operate on the principles of Islamic banking, has selected Misys Equation Islamic and Misys Trade Innovation to help expand the reach and capabilities of its retail banking operation and its trade finance services for corporate customers.

BBI's founders and shareholders, Islamic Development Bank in Jeddah, Dubai Islamic Bank and Abu Dhabi Islamic Bank, recently invested KM 50 million towards the rebuilding and further development of Bosnia and Herzegovina.

The bank is planning to double the number of retail branches within the country and has chosen the core banking system, Misys Equation, from Misys Banking Systems to maintain the high standards of customer service as it expands.  The bank plans to add new channels to its retail banking offer, such as Internet and telephone banking as well as call centre capabilities.  BBI is also extending its Islamic banking products, taking advantage of the additional capabilities of Misys Equation Islamic Banking and Finance.

In corporate banking, BBI is the only bank in Bosnia and Herzegovina to offer companies trade finance facilities under an Islamic banking framework. BBI chose Misys Trade Innovation to help it deliver more sophisticated and varied trade services. The choice was driven by the exceptional functionality and the substantial number of users of Misys Trade Innovation. This provides both confidence and business opportunity.

The fully integrated system will be installed at the bank's head office in Sarajevo, from where it will be rapidly rolled out across the branch network. Mr. Said Mohamed, Director General of Bosna Bank International, sees Misys as critical to enabling the bank's expansion. "Misys Banking Systems has an excellent track record of helping Islamic banks provide the service our customers need. Misys Equation will be integrated with our existing ATM system and to the local real-time clearing systems, which will enhance our retail banking offer.  Additionally, we are confident that our trade finance operation will be very much strengthened by Misys Trade Innovation."

Roy Froud , head of sales, Middle East and Africa, Misys Banking Systems, comments, "We have worked with the team at BBI to recommend a plan that will enable the bank to handle rapid growth and increase the number of customer touch points without disrupting normal business.  We are delighted to have been chosen ahead of the competition yet again for the quality and reliability of the Misys Equation Islamic and Misys Trade Innovation products, and our Islamic finance expertise and technology strengths." 

Caroline Parker /Dan Davies

Financial Dynamics

0207 269 7295 / 7282 293

 

Edward Taylor

Misys Banking Systems

0208 486 1661

BBI is the first bank in Bosnia and Herzegovina to operate on the principles of Islamic banking.  The Founders / Shareholders of BBI are some of the most powerful financial institutions in the Gulf with resources exceeding US$ 22 billion and they support the business development of BBI worldwide. The individual holdings of core capital are:

On March 13, 2002  BBI received the permit for performing transactions in the internal payment operations from the Banking Agency of the Federation of B&H, what was the date of start of its operations.

In November 2002 BBI received the deposits insurance license from the Deposit Insurance Agency of Bosnia and Herzegovina.

The bank's primary task is to financially support and follow its clients: individuals and legal entities and to find right solutions for their needs.

 

Misys Banking Systems supplies over 1,200 customers in over 120 countries, among them 49 of the world's top 50 banks, with software and solutions for retail banking, wholesale banking, treasury and capital markets and risk management. It has 2,600 people around the world, over 70% of whom are outside of the United Kingdom, and sales, implementation and customer support teams in over 28 countries. Misys Banking Systems is part of Misys plc.

 

Misys plc (FTSE: MSY), the global software company, is one of the world's largest and longest-established providers of industry-specific software. Founded in 1979, Misys serves the international banking and healthcare industries, combining technological expertise with in-depth understanding of customers' markets and operational needs. In banking Misys is a market leader with over 1,200 customers, including 49 of the world's top 50 banks. In healthcare Misys is also a market leader, serving more than 110,000 physicians in 18,000 practice locations, 1,200 hospitals and 600 home care providers. Through Sesame, a wholly-owned subsidiary, the company is also a leading provider of support services to about 7,800 financial advisers in the UK. Misys employs around 6,000 people who serve customers in more than 120 countries. For more information, visit www.misys.com