Afriland First Bank Establishes Islamic Banking Implementing Synergies Islamic Window Solution  

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Conakry – September 25, 2018 

Afriland First Bank Guinea (Afriland) has completed a project to extend Islamic banking products and services to its retail and corporate segments. The bank established a comprehensive Islamic window supporting the total value chain of banking products and automation for the front and back offices including core banking branch automation, Islamic financing, Islamic deposits, compliance, central bank reporting, as well as internal and external system integrations.  Afriland selected Lyst Technologies as its technology partner for its Islamic core banking solution. 
 
 
Mr. Guy Laurent FONDJO, Chief Executive Officer of Afriland First Bank Guinea stated “Afriland made a strategic decision to enter into Islamic Banking. Various partners with proven track-record and experience were assembled to ensure the delivery of a Shari’ah compliant platform with robust capabilities, products and services tailored for clients desiring Islamic financing rather than a conventional offering. We deployed Synergies Islamic Window System and went with the system life in just 40 days which supports our notion of a comprehensive and configurable Shari’ah compliant software package meeting the unique needs of our financial institution. 
 
Naji Moukadam, CEO of Lyst Technologies said, “Afriland had a clear vision of Islamic Banking and wanted to enter the market quickly while covering the total value chain of Islamic banking services. Lyst partnered with Afriland Guinea at a project level and launched Synergies in 40 days. We appreciate the leadership and commitment of Afriland team in launching the Islamic Window across all their branches in a record 
time. Afriland is a leading bank with a strong culture of utilizing next-generation and agile technology and developing new products and services for its customers. We are proud to be supporting their vision and our role as their technology partner.” 
 
ABOUT LYST TECHNOLOGIES LYST Technologies is a subsidiary of Catalyst group , a wholly owned subsidiary of the Islamic Corporation for the Development of the Private Sector, a member of the Islamic Development Bank Group. LYST provides leading edge technology solutions addressing the ever-changing needs and demands of the Islamic financial sector. The company operates globally and is based in Kingdom of Bahrain with regional offices located in 10 countries. 
 
ABOUT AFRILAND FIRST BANK GUINEA Afriland First Bank Guinea is a universal bank that operates in all market segments: retail, corporate, institutional and public sector. It is the subsidiary in Guinea of Afriland First Bank group, a leading African Banking group. Afriland First Bank Guinea offers its customers a range of products and commercial banking services: financing, deposit and treasury management, payments, trade finance. of Islamic finance.  
 
Afriland First Bank Guinea, a universal bank, is a subsidiary of Afriland First Bank Group, a leading African banking Group. It operates in all market segments : retail, corporate, institutional and the public sector, and offers customers a range of products and commercial banking services : financing deposit and treasury management, payments, trade finance and islamic.  Afriland First Bank Guinea, the promoter of the MC2 Model, plays an active role in the eradication of poverty in Guinea. It has via the MC2 Model, has reached out to hundreds of thousands of youths, women and the disabled, who had been left out of the classical banking sector. 
 
MEDIA CONTACTS 

Mr. Karim NAJJAR, Media Relations Manager knajjar@lyst-tech.com 


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