07.12.2010 , Jeddah, KSA

The Islamic Development Bank (IDB) Group, the global leader in Islamic banking practices, on Tuesday launched SAP ERP Solutions to align its strategies and operations for planned expansion and growth. IDB Group President, Dr. Ahmad Mohamed Ali inaugurated the operation at 08:00 am local time by uploading the system at the Bank’s main tower initiating the utilization of the software by the international heavyweight in Islamic banking industry.
At the ceremony Dr. Ali termed the implementation of the project a great achievement which came on the back of round the clock efforts of the IDB Group staff and stated that with SAP ERP in operation, the Islamic Development Group has taken a giant leap forward in maximizing its global performance to live up to the expectations of all IDB Group member countries and the Muslim World which, as he said, have put great expectation and hope on the IDB to see it enhance cooperation amongst its member nations and support development efforts upgrading the living standards of the people. The IDB Group President then expressed hope the achievement shall contribute to lifting of the living standards around the globe and speed up the drive towards materialization of the goals stipulated in IDB VISION making the Bank a world class financial institution by the year 2020.
Director of the program at the Bank, Mohamed Baghdadi, meanwhile, described IDB Group’s implementation of SAP ERP only after a nine month period of training and testing “an unprecedented first class record.” “The business of finance is evolving dramatically on a global scale and specially in countries within the Organization of Islamic Conference where we aim to foster the economic development and social progress of the IDB Group 56 member states and SAP Solution now allows us to leverage best practice for the benefit of our clients through the reliable business intelligence and robust analytical capabilities”, he added.
Having provided modular applications that have enabled the IDB Group to tailor solutions to its specific business needs across core accounting and reporting capabilities, financial supply chain management, treasury and shared services, the Solution will provide the IDB Group with increased strategic insight, productivity and flexibility by automating business processes for this international heavyweight in Islamic finance.