Brief: AFA Systems sells Musketeer to Industrial Bank of Kuwait

Brief: AFA Systems sells Musketeer to Industrial Bank of Kuwait

London-based software vendor AFA Systems has won a $750,000 contract to provide Musketeer, its treasury and risk management software product, to the Industrial Bank of Kuwait.

Under the terms of the contract, AFA Systems will receive a combination of an initial licence fee, implementation payments and recurring licence fees. It is anticipated that $500,000 will be taken as revenue in the current year.

AFA Systems says the deal represents the company's first win resulting from its recent distribution agreement with Middle East-based ITS.

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