BML Istisharat gains two new takers of ICBS core banking system
BML Istisharat, a Lebanon-based banking software provider, has gained two new takers of its ICBS core banking system.
These are Peterhouse Securities, a financial services firm in London, and Liberty International Bank in Abu Dhabi.
Peterhouse Securities is a start-up incorporated in April 2017.
Liberty International Bank is a also start-up venture, set up by Société Générale de Banque au Liban (SGBL). It has not opened for business yet.
SBGL is itself a long-standing customer of BML Istisharat – it uses the ICBS system for its domestic operations as well as in Cyprus and Jordan.
In 2014, the bank signed with Temenos to implement its T24 system at home and internationally, but the project is yet to come to fruition, Banking Technology understands.
In the meantime, the ICBS solution continues to operate at SGBL and the bank also decided to implement it for the aforementioned new operation in the UAE. The launch on Liberty International Bank is imminent and SGBL wants to minimise the risks by going for a tried and tested solution, Banking Technology understands.
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