Swiss confidentiality coupled with proprietary hi-tech systems could make a Dubai-based bank's online documentary credit system one the most secure banking systems in existence. Habib Bank AG Zurich, which in January joined the burgeoning ranks of banks offering online documentary credits, claims its security is so good because all software is developed in house and is not available commercially.

The online documentary credit system allows customers to visit the bank's website and fill in a documentary credit form, which will then instantaneously begin to be cleared. Once the form has been filled in, a customer can reload the page and make necessary alterations instead of having to resubmit all data with each application.

The Swiss incorporated bank's in house technical team has designed an extensive number of firewalls along with what it describes as many other security applications. In September 2000 Habib Bank became the UAE's first bank to enable access to accounts via WAP mobile phones, which customers can also use to specify and receive data on certain transactions.

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