Path Solutions, the world's leading provider of software solutions to the Islamic banking industry has announced that Elaf Bank had successfully deployed iMAL solution.
Elaf has become the 10th bank in Bahrain whose technology is powered by iMAL the only AAOIFI-certified enterprise banking solution from Path.
The solution, which went live in a record 90 days, will enable the bank to embark on its ambitious business strategy aimed at aggressive growth and rapid differentiation as an Islamic investment bank.
'iMAL is a proven technology, we have been able to benefit from a fast and effective implementation. The commitment and dedication we received from Path Solutions' team on the ground and their continued support made this achievable,'said Dr. Jamil Jaroudi, CEO, Elaf Bank.
As to Yousif Janahi, Head Information Technology at Elaf, he commented, 'Elaf is now empowered by iMAL to create a distinguished customer experience through innovative product offerings and a unified customer view for greater convenience.'
He further added, 'What really differentiates Path Solutions is their impeccable implementation track record. Elaf Bank went live with iMAL on the 1st of April 2009, three months after the project kick-off. Thus, we were confident in their abilities to manage such a big project on time.'
'The quick deployment of iMAL at Elaf Bank is important as it demonstrates the quality of our implementation skills combined with our business know-how. Elaf Bank is fast becoming a large investment bank and we are happy to support them in their growth plans,' said Alain Abou Khalil, VP Professional Services - Path Solutions.
Path Solutions is a global player in the Islamic banking solutions' arena, with a customer base spread across 20 countries. The company has a strong presence in the GCC, Middle-East, South East Asia, Africa and Europe.
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