The Islamic Development Bank Group has signed an agreement with Misys, the UK-based financial software firm, for services at its treasury and investment departments.

Under the terms of the deal, Misys will provide various solutions including Opics Plus, Opics Risk Plus, Sophis VALUE and Eagleye. The systems allow IDB to monitor and report risk exposure across its entire business.

IDB said the deal was signed at its group headquarters in Jeddah, Saudi Arabia, by Dr Ahmad Mohamed Ali, Chairman, IDB Group, and Michel Daenen, managing director of the capital markets business in Middle East and Africa at Misys.

Misys has had a presence in the Middle Eastern and African markets since 1982. Its international clients have included the World Bank, African Development Bank, Asian Development Bank, and European Bank for Reconstruction and Development. IDB, meanwhile, was founded in 1975.