Meezan Bank has chosen to build its consolidated IT infrastructure based on Oracle applications and technology to address the growing demand for Shariah-compliant banking services in the country.
The bank chose Oracle E-Business Suite, Oracle Real Application Clusters (RAC) and Oracle Enterprise Manager to power its core banking application on the reliable, high performance, highly available and scalable Oracle Database platform. Oracle Applications, including Oracle E-Business Suite Human Resource Management System (HRMS) and Oracle E-Business Suite Financials will provide Meezan Bank with an integrated view of its HR and financial information to help in the bank’s decision-making process while significantly reducing the cost of operations. Oracle partners, IBM Global Business Services and Ora-Tech Systems, are the partners responsible for implementing the solutions.
“To cope with our aggressive expansion plans, it became necessary for us to select a user- friendly, functionally-rich, cost-effective, real-time banking solution that would help meet market needs and demands,” said Mr. Irfan Siddiqui, President and CEO, Meezan Bank. “Oracle provided us with the best solution that can give us a scaleable, highly-available infrastructure platform for this solution; helping us in our growth and business requirements.”
“Banks around the world and also in Pakistan rely on Oracle to help them streamline business processes, meet increasing regulatory compliance demands and improve cost efficiency ratios, while providing greater value to customers,” said Farhan Ibrahim Chaudhry, General Manager Sales (Technology Business), Oracle Corporation, Pakistan and SAGE (W). “We are happy to support Meezan Bank in their endeavour to enhance customer service and to expand.”
Oracle RAC provides continuous uptime for database applications, eliminating downtime for Meezan Bank’s core banking users with its high availability and load balancing capabilities.
Oracle Data Guard will provide Meezan Bank with robust database protection for its core banking application. It will also serve as a critical component of the bank’s business continuity strategy, enabling the bank to replicate critical data from its primary site to disaster recovery site.
“This consolidated IT solution based on Oracle technology and applications will definitely help us to serve our customers better,” said Mr. Ariful Islam, Chief Operating Officer, Meezan Bank. “It will provide us with a solid platform to meet our expansion targets more aggressively by minimizing operational costs.”
Meezan Bank will use Oracle Enterprise Manager as an integrated management solution for managing Oracle databases, in order to reduce or eliminate time-consuming, error-prone administrative tasks, so that the bank’s database administrators can focus on strategic business objectives instead of performance and availability fire drills.
Oracle E-Business Suite HRMS solution will enable the bank to manage its HR on a single system of record while complying with local laws and regulations. It will enable the bank to forecast, track and manage its work force more efficiently, enabling them to cut cost, increase productivity while attracting, retaining, and motivating a superior workforce.
“Meezan bank has chosen a powerful set of software solutions from Oracle to enable them in their business. Ora-Tech Systems is honoured to support Meezan Bank through our experienced professionals. As the premier Islamic banking institution in Pakistan, Meezan Bank will now be able to grow its Middle East’s Islamic Banking Network while providing top-notch service to its existing customers,” said Mr. Farhad Fatakia, Director, Ora-Tech Systems.