Security

SunGard strengthens Middle East operations

SunGard Financial Systems has opened a new regional headquarters in the Middle East. The announcement was made at DIFC Week – the annual summit of the Dubai International Financial Centre (DIFC). SunGard Financial Systems recently appointed Wissam Khoury as managing director, Middle East, and is expanding its financial systems presence in the region. The new headquarters will help SunGard to extend its local support and implementation capabilities to a regional customer base of over 50 financial institutions.

SunGard already provides these institutions with software and services for private, commercial and retail banking, capital markets, alternative investments and energy trading. SunGard also offers a Shariah-compliant solution suite that helps banks to support Islamic deposits, loans, credit cards, trade finance and treasury. It is now extending the number of solutions and services it provides to the region.

Nasser Al Shaali, chief executive officer of the DIFC Authority, the body responsible for the centre's strategy, direction and supervision, commented, “The DIFC is the world's fastest growing financial hub, with over 750 companies. This growth is helped by the use of innovative technology solutions – solutions that can help our community to diversify, identify new opportunities and build their businesses in new markets. SunGard is an information technology keystone in the financial industry, and is choosing to strengthen its presence here. We are excited about working closely with SunGard to help grow the DIFC community.”

Wissam Khoury, managing director, Middle East for SunGard’s financial systems business, commented, “The finance sector in the Middle East has been growing in size and strength, and Dubai is now an important international finance hub. By expanding our operations in the region, and enhancing our solutions to meet specific regional requirements such as Shariah law, SunGard is helping the DIFC, its members and the region to sustain its growth.”

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