- Transformative technology enhances lending capabilities and operational efficiency
Riyadh, Saudi Arabia, 14 February 2025—The Arab Energy Fund, formerly known as APICORP, a leading multilateral impact financial institution, announces the successful implementation of the Temenos Arrangement Architecture Consumer Lending and Facilities Lending solution by Systems Arabia.
The implementation will support The Arab Energy Fund’s Corporate Banking by enhancing loan issuance and management, particularly to accommodate products related to sustainability, green initiatives, and Sharia-compliant facilities. Additionally, it improves the Fund’s ability to manage syndicated loans and the functions effectively.
Fahad Alshahrani, CSSO of The Arab Energy Fund, added: “This implementation marks a pivotal step in our digital transformation journey, significantly enhancing our operational efficiency and service delivery to our clients. This advancement will enhance our efficiency in providing superior lending offerings to our clients and streamline our agency operations.”
Rao Hamid, General Manager, Systems Arabia, commented: “We are proud to partner with The Arab Energy Fund on this transformation, representing a significant leap forward for lending modernization in the region.”
William Moroney, Chief Revenue Officer, Temenos, remarked: “Temenos is honored to partner with Systems Arabia in supporting The Arab Energy Fund’s journey toward lending modernization, providing a unified, flexible, and scalable platform for loan servicing.”
Temenos provides the T24 Arrangement Architecture module for Consumer Lending and Facilities Lending (clubbing loans). Notably, The Arab Energy Fund was the first to implement the clubbing feature of the AA module in the MENA region. Historically, the Fund has been one of the first customers of T24 (previously Globus) in the Middle East.
Last month, The Arab Energy Fund unveiled its new brand identity during a milestone event celebrating the institution’s 50th anniversary. The event was attended by HRH Prince Abdulaziz bin Salman bin Abdulaziz, Minister of Energy, along with Energy Ministers from member countries, showcasing the Fund’s significant convening power and commitment to enhancing energy collaboration.
The new identity reflects The Arab Energy Fund’s dedication to advancing energy security through impactful investments across the Arab world and beyond, marking five decades of dedicated service in the energy sector and reinforcing its vision for transformative investments in the MENA region.
—ENDS—
