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Amerab Business Solutions sal (ABS) is Formed

BEIRUT, LEBANON, December 8, 2004 – IDOM Middle East, LLC is pleased to announce the official opening of a local office, Amerab Business Solutions sal (ABS), strategically located at Liberty Tower in Beirut, Lebanon. Liberty Tower is ideally located in Hamra, the main city center of Beirut and is within easy reach of the capital's prestigious banking community.

“We are very pleased to have established a local presence in Beirut,” said Fakhruddin Khalil, Chairman of F. Khalil & Co. and IDOM Middle East, LLC. “This clearly illustrates that we are very committed to assisting the Middle Eastern banking community and growing our presence in the marketplace. We strongly believe that in order to provide our clients with the best possible service support, it is essential to employ a local staff.”

ABS has recently appointed Mr. Camille Barkho as the Manager of the ABS office and staff. Mr. Barkho has been working in the banking industry for over 7 years, with an additional 6 years of IT experience and 3 years of sales experience, bringing a wealth of expertise and knowledge to the company. ABS will continue to focus on providing innovative solutions to the banking industry as it relates to automating anti-money laundering detection, including BSA (Bank Secrecy Act) and OFAC (Office of Foreign Assets Control) requirements, regulatory reporting and document tracking.

The AML-Reporter software is extremely efficient in the detection of suspicious activities to help to prevent money laundering in financial institutions. The DNFS software is used to filter black listed names. These software solutions maintain internal audit trails and are used to assist banks in implementing the recommendations of international anti-money laundering publications from FATF (Financial Action Task Force) and the Basel Committee, as well as being instrumental in meeting specific monitoring requirements for compliance with local Central Banks' anti-money laundering regulations.

REG-Reporter automates compliance with reporting requirements to regulatory authorities, management and head offices, and helps ensure the accuracy and integrity of financial reports while increasing the efficiency of reporting. It combines data from all of the bank’s systems into a central data repository, where key information is translated into standardized data. The resulting data is then compiled into required report formats recognized by regulatory agencies and Central Banks.

DOC-Tracker is a modular, client-server, web-enabled application that addresses both the documentation management, compliance and imaging needs of today's businesses and helps to mitigate associated risks. DOC-Tracker provides the facility to record documentation requirements and track the receipt of all types of Customer Specific, Commercial Lending, Trade Finance and other transactional documents produced internally, or those provided to the organization by a third party to support the businesses engaged. DOC-Tracker's document imaging capability provides instant access to multiple users of documents, facilitates their review, as well as, the recording of discrepancies noted.

About IDOM Middle East, LLC

IDOM Middle East, LLC, a joint venture between IDOM, Inc. and F. Khalil & Co., markets a wide array of banking products and services throughout the Middle East. Fakhruddin Khalil is the Chairman and Vincent Raniere, Stephen Codignotto and Haytham Khalil are the Managing Directors. There is significant interest in the Middle East, as there is in the United States, for banking products that automate regulatory reporting, documentation tracking and anti-money laundering detection. IDOM Middle East’s complete array of banking automation tools provides the perfect solution for banks in this region.

For more information on IDOM Middle East, LLC’s and ABS’ products and services please contact the sales department at info@amerabsolutions.com, +96 1 1 744797 or visit the web site at www.idom-me.com.

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