| Oracle announced that Amana Bank in The United Republic of Tanzania, has selected Oracle FLEXCUBE Universal Banking and Oracle FLEXCUBE Direct Banking to develop its core transaction processing system and internet banking capabilities. The start-up Amana Bank is the first to provide Sharia-compliant banking products to customers in The United Republic of Tanzania.
Dr. Idris Rashid, Managing Director, Amana Bank, Tanzania – said: “As the first Islamic bank in The United Republic of Tanzania, we needed to establish our services and capabilities to meet the demands of Islamic customers in the region. We selected Oracle because of its excellent reputation in adapting to regional banking demands. Oracle provides us with a scalable platform that will allow us to grow in the future and expand our services further. As part of our business strategy to offer anytime-anywhere banking, we’re also working with Oracle to serve our customers in a virtual environment through internet and SMS banking.” (Press Release)
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