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EBI to demonstrate online trading at Gitex

DUBAI — Emirates Bank announced yesterday that it will be demonstrating its new Emirates International Brokerage's (EIB) online trading service at Gitex 2005, soon to be made available to clients across the region.

The Emirates International Brokerage service represents the next generation of stock market e-commerce, and will utilise state-of-the-art verification and authentication to integrate with the regional stock market systems and allow for real-time updates.

Emirates International Brokerage's Internet-based stock trading system follows technology tried and tested at Tawadul, Kingdom of Saudi Arabia's (KSA) financial market. The new service is in the testing phase, with EIB undertaking detailed implementation discussions, and is expected to be available to the public in October 2005.

“The online trading offering is designed for the convenience of investor and broker alike, with investors enjoying the facility of transacting online from office or home. Instantaneous verification and processing will eliminate latency, and allow for higher volumes of conducted transactions,” said Hamoud Abdulla Al Yasi, General Manager, Emirates International Brokerage.

Emirates Bank also announced at the Press conference yesterday that the bank's IT-oriented subsidiaries such as E-Commerce and Trade Services Middle East (ECTS ME), Network LLC, and Buzz Contact Centre Solutions will also seek to broach new markets with their tailored offerings.

Network International is a leading UAE-based credit card solutions provider. Network International is the only service provider with EMV (Europay, MasterCard and Visa) Certification that allows it to personalise Smart Cards & offer Smart Card Processing solutions in the UAE.

At Gitex, the company will showcase its comprehensive offering of card processing solutions, ATM acquiring, merchant processing, loyalty scheme management, fraud protection and card personalisation and production capabilities.

ECTS Middle East, a joint venture between Emirates Bank and the US-based ECTS is also gearing up to heighten awareness of the benefits of its outsourcing solution for Trade Finance Operations in the MENA region at Gitex 2005. The ECTSME trade finance processing solution combines the use of workflow, scanning, imaging and bar-coding technologies to provide a scalable and customisable trade services platform that automates the full range of in-sourced trade finance activities and allows for paperless processing.

“Emirates Bank prides itself on fostering the best of talent and ambition within its ranks, and is dedicated to the provision of premium banking services to our clients,” commented Abdulla Qassem, General Manager, IT Operations.