Dubai : Emirates Islamic Bank (EI), a leading Sharia-compliant banking institution in the Middle East, has selected the Infosys (NYSE: INFY) Finacle Islamic Banking solution to power its operations and to support its vision of making Dubai the center of global Islamic Banking.

With Finacle, EI can leverage a world-class platform that will enable the bank to serve its customers with greater efficiency, manage its operations more effectively, and meet the required reporting and compliance obligations.

Highlights:·

The bank chose Finacle Islamic Banking Solution since it is a cost-effective, customer-centric and Sharia-compliant banking platform with proven scalability and a lean and open architecture for easy implementation

·         With the Finacle solution, EI will be able to easily create a wide range of products and services that will be compliant with the stringent Sharia business rules and accounting rules

·         Based on a modern Service-Oriented Architecture (SOA) platform with Straight Through Processing (STP) capabilities, the solution will enable greater operational efficiency and effectiveness for the bank

·         The Finacle Islamic Banking Solution will also ensure transparency of accounting  and profit-sharing,  along with rigorous operational risk control