Qatar Islamic Bank headquarters is now operating a state of the art IT centre, fully equipped as a stand-alone suite that the bank says is set to streamline its management of letters of credit (L/Cs) as a well as a range of other bank services.

The IT centre upgrade is one of 30 projects to migrate the bank's systems to the latest technologies, a process that the bank says is now 70 per cent complete.

Complete migration

The new system was inaugurated in late November by Qatar Central Bank (QCB) Governor, Sheikh Abdullah Bin Saoud Al-Thani, who says the upgrade is typical of the type of modernisation he wants to see in banks across the country.

"QCB is keen for all banks operating in Qatar to have efficient, hi-tech systems to execute their work, such as electronic clearance, credit ceilings, money collection, customer data and bank transfers," he said at the inauguration.

L/C functionality

The IT centre specifically incorporates capabilities for commercial financing, including L/Cs and letters of guarantee.

It also has functions covering other bank services, including treasury, risk, assets and liabilities, e-banking and ATM cards, financial issues, human resources, banking transactions and archives.

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