Boubyan Bank implements Sharia-compliant treasury platform
03 December 2024 Middle East
Image: izzuan/stock.adobe.com
Boubyan Bank has completed the MX.3 platform implementation for Sharia-compliant treasury activity.
The implementation comes after the company sought out a Sharia-compliant financial solution which was capable of meeting current business needs while also maintaining compliance with international standards.
The solution was created in partnership with Murex, who designed the platform in a bid to accelerate time-to-market and risk management capabilities for treasury activities.
“We have succeeded in transforming our IT landscape with a solution that will facilitate new product delivery to our clients. We are pleased with the close collaboration to reach this point and look toward future development of our technology partnership with Murex,” states Adel Al Mutairi, treasurer of Boubyan Bank.
Marc Farah, senior business development manager at Murex, concludes: “The platform] optimises operational efficiency through automated post-trade processes and a preconfigured setup. We are confident that financial institutions in Kuwait and the region will see similar success with the implementation of our solution.”
The implementation comes after the company sought out a Sharia-compliant financial solution which was capable of meeting current business needs while also maintaining compliance with international standards.
The solution was created in partnership with Murex, who designed the platform in a bid to accelerate time-to-market and risk management capabilities for treasury activities.
“We have succeeded in transforming our IT landscape with a solution that will facilitate new product delivery to our clients. We are pleased with the close collaboration to reach this point and look toward future development of our technology partnership with Murex,” states Adel Al Mutairi, treasurer of Boubyan Bank.
Marc Farah, senior business development manager at Murex, concludes: “The platform] optimises operational efficiency through automated post-trade processes and a preconfigured setup. We are confident that financial institutions in Kuwait and the region will see similar success with the implementation of our solution.”
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