Mawarid Finance, an Islamic finance company based in Dubai, has paid $15 million to acquire the entirety of BML Istisharat, one of the oldest Beirut-based software development companies. BML Istisharat's forte is banking software, with 250 clients installed in 35 countries. The company also provides insurance and ERP software solutions.
Joe Faddoul has stepped down as chairman of the company, but will remain on the board of directors. A new chairman will be elected during the next general...
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