KUALA LUMPUR: Malaysia Debt Ventures Bhd (MDV), a wholly owned subsidiary of the Minister of Finance Inc, recently signed an agreement with Innovation Associates Consulting Sdn Bhd (IA) for a loan management system.
The agreement represented a step forward in MDV's capacity to handle larger volume of transaction, which will expedite its loan related processes significantly, the two companies said in a statement on Wednesday, Aug 18.
According to MDV managing director and chief executive officer Md Zubir Ansori Yahaya, the new system will enable the company to be more efficient operationally.
"Being the country's innovative financier and development facilitator, we realise there is a need to improve our system to accommodate the growing number of loans we have to process each year," he said.
"This new system is required to cater for MDV's growth as the economy picks up and more locally incorporated companies are seeking to secure financing."
The system, he added, is of international standards and has been used by various financial institutions in the United States and Europe.
Under the agreement, IA will procure, develop and implement the SAP Loans Management For Bank for MDV.
MDV will also be deploying IA's SAP Islamic Banking solution which is a Malaysian-developed product while IA will employ only local human resources for the project.
"Our homegrown Islamic banking solution is developed with intellectual property for the Islamic component. This is also the percursor of our entry into the global Islamic market with Islamic core banking solution offering," said IA group chairman Halim Din. ' Bernama
The agreement represented a step forward in MDV's capacity to handle larger volume of transaction, which will expedite its loan related processes significantly, the two companies said in a statement on Wednesday, Aug 18.
According to MDV managing director and chief executive officer Md Zubir Ansori Yahaya, the new system will enable the company to be more efficient operationally.
"Being the country's innovative financier and development facilitator, we realise there is a need to improve our system to accommodate the growing number of loans we have to process each year," he said.
"This new system is required to cater for MDV's growth as the economy picks up and more locally incorporated companies are seeking to secure financing."
The system, he added, is of international standards and has been used by various financial institutions in the United States and Europe.
Under the agreement, IA will procure, develop and implement the SAP Loans Management For Bank for MDV.
MDV will also be deploying IA's SAP Islamic Banking solution which is a Malaysian-developed product while IA will employ only local human resources for the project.
"Our homegrown Islamic banking solution is developed with intellectual property for the Islamic component. This is also the percursor of our entry into the global Islamic market with Islamic core banking solution offering," said IA group chairman Halim Din. ' Bernama
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