August 4, 2014 - Path Solutions is proud to announce that its flagship product iMAL, has been named winner of the CFI.co 2014 Awards in the category of 'Best Sharia-Compliant Banking Systems'. Path Solutions is a global application software and services firm for the Islamic financial services industry. The company provides cutting-edge Sharia-compliant technologies that can add value and increase ROI, while improving product innovation, customer satisfaction, operational efficiency and risk management.
iMAL provides full support to various functions within the organization including: Corporate & Retail Banking, Islamic & Investment Banking, Treasury & Brokerage, Settlement, Risk Management, Funds & Portfolios, Trade Finance, Facility Management, Profit Calculation, Accounting & MIS, Private & Personal Banking, Fixed Assets, Personnel & Payroll, Assets & Liabilities Management, Shareholders Registration and Regulatory Reporting.
Launched by Capital Finance International - a renowned British print journal and online resource reporting on global business, economics and finance, CFI.co Awards Program identifies individuals and organizations operating in niche areas that truly add value. Initial nominations to the awards are based on input from readers, subscribers and contributors to the magazine. The CFI.co judging panel reviews then the information generated during the nomination process and draws on its members' expertise to identify candidates for award consideration.
As reported by CFI.co, "Path Solutions' outstanding range of Sharia-compliant integrated solutions has been taken up successfully by some 100 Islamic finance institutions throughout 33 countries. The iMAL Islamic core banking system allows clients to bring to market secure and competitive Sharia-compliant offerings quickly, economically and with full and well-placed confidence. Path Solutions has a deservedly strong share of the market. The company out-invests its peers in terms of critically important research and development, employs an outstanding team of some 400 professionals, and to cap all this it is by all accounts a very happy environment in which to work. We wish Path Solutions all success in the years to come".
"It is a great honor for us to be recognized by CFI.co for our best-in-class Islamic banking software solutions," commented Mohammed Kateeb, Path Solutions' Group Chairman & CEO. "We are privileged to have a dedicated team at Path Solutions who demonstrate significant, unique and continuous commitment to building next-generation information systems. This recognition comes at the beginning of one of the busiest product release schedules that we have ever had, making us extremely confident that our growth will continue. We thank CFI.co readers and well-respected panel of judges for choosing Path Solutions, and our clients and partners for their loyally and for voting for us".