Posted: 7 January 2003
Oracle Partner Rekaz Helps Islamic Financial Services Company Streamline
Internal and External Processes Seamlessly
Dubai-- UAE, January 7, 2003 -Oracle Corporation, the world's largest
enterprise software company, today announced that Ta'jeer Company,
a member of the prestigious Saudi-based Dallah Al Baraka Group of
Islamic Financial Services companies, has deployed components of
the Oracle E-Business Suite as well as an Oracle-based solution
from Rekaz Systems to fully automate its financial operations. The
company is linking its accounting, leasing, installment and workflow
functions through Oracle technology to support Ta'jeer's rapid expansion
throughout the Kingdom of Saudi Arabia.
Ta’jeer’s management anticipates several major advantages
from its implementation of the Oracle E-Business Suite and Oracle-based
Rekaz Islamic suite. The Islamic services leader will now have the
ability to seamlessly integrate administrative functions across
a number of geographical locations, while streamlining its financial
systems and increasing reporting accuracy.
“One of Ta’jeers major challenges as an organization
is to streamline internal processes across our growing number of
branches, so that we can create an accurate, up-to-the minute picture
of the company’s finances. The Internet-based Oracle E-Business
Suite and Rekaz Islamic Suite solution will integrate all of the
key business functions throughout the entire group, enabling better
internal access to information and more informed decision-making
capabilities,” said Dr. Saleh Malaikah, chairman of Ta’jeer.
The robust integration between the Rekaz Islamic Suite and Oracle
Financials will also boost Ta'jeer's internal productivity, moving
the company closer to its objective of reducing paper-based administrative
processes. The Internet-based functionality of Ta'jeer's new solution
enables the company to identify and respond more quickly to customer
demand, thus increasing its customer service levels.
“As the demand for Islamic financial services increases,
organizations like Ta'jeer are increasingly focused on becoming
more nimble and informed in order to better seize new business opportunities.
Ta'jeer's implementation of the Oracle Financials and the Oracle-based
Rekaz Islamic Suite will help Ta'jeer reduce the cost of doing business
and increase its internal efficiencies while the company sets out
its aggressive expansion strategy” added Husam Dajani, Vice
President, Oracle Middle East.
About Ta'jeer Co
Taajeer Company is an Islamic Financing company based in Jeddah,
Saudi Arabia. It specializes in financing consumer goods through
installments. Taajeer started its operation in September 1998. All
of Taajeer's Credit Policy and procedures are governed by Islamic
Sharia. Taajeer's capital is SR85M, and Dallah investment and Development
Company, a subsidiary of Dallah Al-Baraka owns 24% of it.
About Oracle
Oracle Corporation is the world's largest enterprise software company.
For more information about Oracle in the Middle East, please visit
our web site at www.oracle.com/me or contact Bahaa Issa on +9714
390 9000.
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