• Oracle Financial Services Software, a majority owned subsidiary of Oracle, today announced that Saudi Home Loans (SHL), the first fully specialized Islamic home finance company in the kingdom of Saudi Arabia has gone live on Oracle Daybreak. The implementation supports a complete Shari'ah compliant home mortgage business in Saudi Arabia.
  
• Saudi Home Loans selected Oracle Daybreak as it was best equipped to meet its requirements. It was also scalable to adapt to Saudi Home Loan's future requirements as its business grew.
  
• Oracle Daybreak provides Saudi Home Loans an enterprise-wide lending platform that will enable Saudi Home Loans to lower operational costs, ensure that its operating practices are aligned with current standards and support further expansion for diversification.

Supporting Quotes

• "The home loans market in Saudi Arabia is witnessing substantial growth. To be able to provide best in class-leading lending services, we required a lending platform that could cope with growing volumes. We believe our customers will absolutely benefit from Oracle Daybreak deployment and it supports the best industry practices for our business. We are very pleased with the commitment and support of the Oracle Financial Services team that enabled them to complete this deployment in three months," said Taher Naseem, Chief Operating Officer of Saudi Home Loans.
  
• "We very pleased with the outcome at Saudi Home Loans and the opportunity to work with the team. We are sure Oracle Daybreak will enable Saudi Home Loans to fulfill its business on a Shari'ah compliant platform for its customers in Saudi Arabia," said Joseph John, Executive Vice President, Banking Product Division, Oracle Financial Services Software Limited.

About Saudi Home Loans (SHL)
Saudi Home Loans is considered the first fully Islamic home financing company in the Kingdom of Saudi Arabia. It opened its doors to the public, both Saudis and expatriates, in December 2007, offering simple and flexible Shari'ah Compliant home financing solutions.

SHL's vision is to provide easy access to Islamic home finance products and services throughout the Kingdom of Saudi Arabia to all Saudi citizens and expatriates, in particular to those in the middle to lower income segments of the market.

SHL's mission is to be the leading Islamic home finance provider in the Kingdom of Saudi Arabia by following business principles and practices that leverage its strengths and stakeholder partnerships while proactively managing risk. For more information, visit www.saudihomeloans.com.

About Oracle Financial Services Software Limited
Oracle Financial Services Software Limited (referred to as "Oracle Financial Services Software") (Reuters: ORCL.BO & ORCL.NS) is a majority owned subsidiary of Oracle. Oracle Corporation [NASDAQ: ORCL] is the world's largest enterprise software company. For more information, visit www.oracle.com/financialservices.

Trademark
Oracle is a registered trademark of Oracle Corporation and/or its affiliates. FLEXCUBE, Daybreak, Mantas and Reveleus, are trademarks of Oracle Financial Services Software and are registered in several countries. Other names may be trademarks of their respective owners.