LGB Bank to replace Equation core with BML Istisharat

Lebanon and Gulf Bank (LBG) has selected BML Istisharat to replace its legacy core banking system.

LGB Bank already uses ICBS for its treasury and capital markets ops

The vendor says its core banking system, ICBS, went live on the bank’s testing environment in September 2021.

An implementation plan sees customer information systems, accounting, regulatory reporting, and API delivery all installed in the first phase.

LGB is an existing user of the ICBS system across its treasury and capital markets operations, as well as front officer services for both.

ICBS is replacing Misys’ Equation system, now in the Finastra portfolio.

Headquartered in Beirut, the bank was originally founded in 1963 but achieved its current form in 1980.

The bank has eighteen branches around Lebanon, as well as a presence in Iraq and Dubai.