OMAN INTERNATIONAL BANK SAOG SELECTS CHINA SYSTEMS FOR ITS NEW TRADE FINANCE SYSTEM

June 2004. Oman International Bank SAOG, one of the leading local commercial banks in the Sultanate of Oman, has recently selected CS Eximbills to replace their existing trade finance system which they have been using for the past nine years.

CS Eximbills system has been chosen for their various Trade Finance operations which include automating the complete cycle of the banks’ processing requirements from initial calculation and production, to the issuance of entries. This includes Import/ Export Letters of Credit, Collections, Export Financing and all types of Contract Guarantees.

CS Eximbills will interface to the banks’ existing CIF accounting system which runs on the AS/400 online real-time via China Systems’ Generic API interface. The contract includes setting up CS Eximbills at its workstations at Ruwi, as well as setting up registration and viewing workstations with imaging features for their branches within Oman. Using CS Eximbills in their day-to-day business transactions will enable the bank to fully maximize their operations. Beneficial to their way of business, CS Eximbills will end manual preparation of documents, entries, reports and other follow-up processing, allowing manual calculations to become a totally automated one.

Oman International Bank has a network of 82 branches nationwide, with four offshore branches. The bank offers trade finance related services through the centralized Foreign Trade Department, which is located at Ruwi, the commercial hub of Oman.

China Systems is the leading provider of trade finance software to the banking industry with over 600 sites in more than 75 countries.

Oman International Bank SAOG now joins China Systems' list of growing customers which include Barclays Bank, Rabobank, Banco Espirito Santo, Banco Bilbao Vizcaya Argentaria, Arab Bank, Sumitomo Mitsui Banking Corporation, Bank of China, Wachovia Bank and
US Bank, to name a few.

China Systems has a growing and loyal, international customer database. Although based on the most advanced technology, China Systems' products are simple to use and can be adapted easily to suit specific needs.

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