Lebanese investment firm Blominvest Saudi Arabia has gone live with Thomson Reuters' Portia investment accounting system.

The software supports specific Middle Eastern needs including accounting and transaction processing requirements, Shariah compliance, performance measurement, attribution and client reporting. Integration to third party systems is supported with the ability to report in English and Arabic to meet the demands of both clients and local regulators in the Middle East.

With a focus on regional product requirements, Thomson Reuters Portia has made it a top priority to enhance the middle-to-back office operations of investment managers in the Middle East. Plans are in place to add more specialized accounting capabilities later this year. According to Thomson Reuters, this product is used by more than 300 investment managers in 45 countries managing assets worth more than $15 trillion.