September 14, 2003

Abu Dhabi, UAE

 

The solution offers one of the first mobile Islamic banking and investment application in the Middle East that enable the bank sales force as well as the customers to view, analyze and manage their investments and assets related data transactions anytime anywhere anyplace.

 

Sybase Middle East, a recognized global leader in delivering mobile banking solutions and enterprise software and services in the e-business market place, along with Path Solutions, a leader in the delivery of integrated solutions and services to the Islamic financial marketplace, have announced today that First Islamic Investment Bank in Bahrain selected iMAL*Anywhere, a mobile banking applications, running on Sybase iAnywhere wireless technologies to provide one of the first mobile Islamic investment and banking solution in the Middle East area, which enables the employees and the customers to manage their investment data remotely anytime anywhere anyplace.

 

The wireless solution can have multifunction as it can be used for analytical purposes through giving easy access to view the customers global position, different type of investment positioning analysis with drill down capability, investment order placement and account management as well as it can give the facility of profile updation remotely, also the option of graphics is available and supported by Sybase iAnywhere for advanced analysis purposes. iMAL mobile application solution gives out the facility to personalize information sent or viewed by the customer as well as to view data either online or offline with a very high security level profiles and options, and can be integrated to any host system. Note that, currently the solution is seamlessly integrated with iMAL host system.

 

As part of the project, Sybase Middle East and Path solutions have jointly developed this solution iMAL*Anywhere, based on Sybase iAnywhere technologies. The application runs on pocket PC 2002, Path Solutions used pocket PowerBuilder to develop the mobile application as well as Sybase SQL Anywhere database for Windows CE along with Sybase adaptive server Mobilink for synchronization.

 

In fact this new banking wireless initiative by FIIB was awarded to Sybase Middle East and Path Solutions as a system integrator following a comprehensive and highly detailed evaluation, as it is the most reliable and unique technology in the region, since data is always made available and secured, in a database on each device. Database replication is conducted very efficiently via different ways, such as GSM, GPRS, etc.

 

Path Solutions provides a complete enterprise solution and services to its customer based on a modular approach, and at the same time, ensures fully seamless integration among the different modules. Path Solutions offers an enterprise solution that covers all the aspects of the Islamic banking paradigm from commercial to investment, from wholesale to retail along with the admin type of applications such as Fixed Assets, Personnel & Payroll.

 

“We have selected Sybase iAnywhere technology as we believe that any solution provided by Path should always be a Best of breed in terms of technology and present exceptional features at the level of the business functionality. The selected technology provides distinctive benefits by minimizing communication cost and maximizing benefits such as performance, security and data availability anywhere anytime anyplace. Users can always view their position and process the required transactions, even when they are not connected, since the data resides securely on their device.” Said Naji Moukadam, Executive Vice President R&D, Path Solutions.

 

“Our distinctive leadership position in the wireless mobile database worldwide as well as in the Middle East marketplace along with our commitment to First Islamic Investment bank in Bahrain, were the main reasons of Sybase selection and given ownership of this initiative. As a matter of fact, this unique initiative with our partner, Path Solutions has strengthened our relationship with FIIB to be a long-term loyal relation with our top important client for which Sybase always made a quality contribution into.“ Said George Khouri, Managing Director, Sybase Middle East.

 

Sybase iAnywhere solution Inc. is a subsidiary of Sybase Inc., it is the market-leading provider of mobile and wireless solutions that enable anywhere anytime access to enterprise information. More than 10,000 customer’s worldwide including 78 of the Fortune 100, rely on iAnywhere solutions. It is considered as the mobile database leader for six consecutive years with 73% market share worldwide.

 

 

 

About Sybase Inc.

 

Sybase is one of the top 10 largest independent software companies in the world. it enables the “Unwired Enterprise” by delivering mobile and enterprise software that integrates platforms, databases and applications. With Sybase, companies can attain maximum value from their data assets by getting the right information to the right people at the right time — at the right place. For more information, visit the Sybase Web site: http://www.sybase.com. For more information about Sybase regional Middle East website, please visit: http://www.sybase.ae

 

 

About Path Solutions

 

Path Solutions is the leader in the delivery of integrated solutions and services to the Islamic financial marketplace, offering a comprehensive range of software products, outsourcing and consulting services that address the whole spectrum of the global finance industry and in specific the Islamic finance industry. For more information, visit the Path Solutions Web site: http://www.path-solutions.com.

 

 

About First Islamic Investment Bank

 

Founded in 1997, with a paid-up capital of $112.5 million and over 100 shareholders, First Islamic is headquartered in Bahrain with offices in Atlanta and London. The Bank's main lines of business are direct investment, real estate, and asset management.  First Islamic's mission is to provide innovative and distinctive Shari'ah compliant investment opportunities that generate superior risk-adjusted returns. To date, First Islamic has undertaken transactions in excess of $3.6 billion. For more information, please visit First Islamic's website at http://www.firstislamic.com

 

For Further information, please contact:

Sybase Sales Sybase Products Middle East P.O.Box: 45652 Abu Dhabi UAE Tel: +971 2 6275911 Fax: +971 2 6274250 Email: sales@sybase.ae

Agnes Carrasco   Path Solutions P.O.Box: 592 Safat 13006 Kuwait Email: acarrasco@path-solutions.com