Malaysia offers banking software at expo

The country's financial technology sector is represented by competitors Fuziq Software and IFCA Technology - both offering IT platforms and solutions for Islamic banks.

They are exhibiting with the support of the government-owned Multimedia Development Corporation, which will also be promoting its Multimedia Super Corridor (MSC).

MSC is a long-term programme aimed at becoming a global information and communications technology hub and to turn Malaysia into one of the world's IT capitals.

Malaysian Ambassador to Bahrain Naimun Ashakli Mohammad said that his country's participation aimed at strengthening ties with other Islamic countries.

'Meetings between members of the Malaysian delegation and the business community in Bahrain during this visit should lead to expanded bilateral trade and business relations,' he said.

MSC could strike an e-banking relationship with Bahraini companies, Mohammad told a Press conference at the Diplomat Radisson SAS Hotel yesterday.

'Internet banking has proved successful in Bahrain, with the adoption rate standing at around 20 per cent of all Internet users, which is equivalent to the rate in many Western countries,' he said.

Meftec, which runs until Wednesday, will showcase the latest products, services and solutions from over 90 international exhibitors, most of whom have never exhibited in the region before.