23

Oct 2011

ITS Gold Sponsor at 3rd Annual World Islamic Retail Banking Forum

ITS Confirmed its support as Gold Sponsor of 3rd Annual World Islamic Retail Banking Forum  Conference which took a good place in Shangri – La Hotel , Dubai, U.A.E, with great Success.

ITS Group also, stated that Mr. Hossam Gad, ITS Manager, Marketing & Global Operations contributed in the conference as a speaker on the 1st day day, in which he discussed the application of the technology in the Islamic financial Institutions through ETHIX financial solutions. ITS has also demonstrated successfully the company’s range of software solutions specifically catering to the ETHIX financial solutions.

​ETHIX financial solutions are web services based solutions that offer services and functions of Islamic finance, Islamic investment, core banking, delivery channels, trade finance and other banking services, which in turn enhances the bank’s competitive edge.

ITS BSS employees will join a global company with more than 110,000 people on staff and a company that provides worldwide opportunities for career development and advancement.  The transaction will also enhance local innovation across the region with expanded investment in research and development.

“Huawei will continue to invest to grow the business in the region creating local employment as well as new opportunities for existing employees,” said Steven Yi, Huawei.  “Huawei is fully committed to retaining the jobs of all employees, along with their existing benefits.  And research and development activities will continue to operate, remain and expand in the region with local operations gaining access to the extensive resources, capabilities and experience of Huawei’s industry-leading global R&D network.“

ETHIX financial solutions allow financial organizations to reduce the operational cost, reduce the operational risk and meets growing strategy by gaining and retaining customers.

In its third year, World Islamic Retail Banking Conference has created an excellent networking platform for the Global Islamic Retail Bankers. The global financial crisis has intensified the push for Islamic finance to ‘return to its roots’ and shun conventional banking. It is time for innovation. At first, it encourages to be modest and do not go beyond one’s means, so it does not encourage subprime lending behavior, discouraging providing credit to non-creditworthy borrowers and preventing banks going after those for fees and commissions. Awaken the spirit of Islamic finance by imbibing its pro-equity stance, this would stem proliferation of debt in the market.

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