Dubai Islamic Insurance and Reinsurance Company (AMAN) has signed a new software deal with Jordan’s Future Applied Computer Technology (FACT), for office automation. FACT developed its Al-Haris program to meet needs of the Islamic retail finance industry.
The dual-language Shariah-compliant application tracks system use and improves security and confidentiality through strict chain-of-command access privileges. It minimizes manual work by creating automated entries and can operate on a network platform across regional offices.
A technical support team from FACT’s Amman headquarters is on permanent stand-by in Dubai to oversee installation of the system, which is expected to take two months, according to a company press release.
FACT was established in Jordan in 1998, with a paid capital of two million Jordanian dinars (thee million dollars). The company has since expanded its operations covering the Middle East, Gulf Cooperation Council (GCC) states, North and East Africa.
FACT specializes in software systems development, networking and training, covering a variety of industries including interest-free banking, Islamic insurance, manufacturing, trading and education.
Aman has been licensed in Dubai by the Dubai Department of Economic Development (DED) to offer a range of insurance and re-insurance products, in compliance with the principles of Islamic Shariah. The company aims to reach a prominent position in the United Arab Emirates (UAE) insurance sector by providing customer-focused services. Last year, it saw its Initial Public Offering (IPO) more than five times oversubscribed.
Dubai Islamic Bank and other Islamic-oriented promoters set up Aman and hold 45 percent of its capital. Local investors hold the rest. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
