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December 14, 2006

Bank Muamalat upgrades its trading floor with IPC

Bank Muamalat in Malaysia is upgrading its trading floor with IPC's trader desktop IQ/MAX in a phased rollout.

By CBR Staff Writer

An IPC customer since 2003, the Islamic bank is installing the technology infrastructure in phases. The upgrade of its trading positions to the IQ/MAX trader desktop is scheduled to begin shortly.

According to Stephen Phillips, IPC MD of Asia, Islamic banking has been growing at a rate of 25% over the past four to five years, and that growth is set to continue.

The deal with Bank Muamalat illustrates IPC’s expansion strategy in Asia-Pacific. In 2006, IPC opened two new offices in Kuala Lumpur and in Shanghai. IPC also has offices in Hong Kong, Tokyo, Singapore, Melbourne and Sydney.

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