Path Solutions is a global application software and services firm for Islamic financial services industry.
In a press release published yesterday on its website, the firm said AGIB is currently using an in-house IT software system and intends to quickly scale up with iMAL by launching innovative banking products in accordance with Islamic principles.
“Recognising the emergence and development of Islamic finance throughout the world, AGIB was looking for a comprehensive Sharia-compliant solution with end-to-end functionality to address increasing demand for Islamic banking products and services in The Gambia”, Mr Muhammed Jah, chairman of AGIB, was quoted as saying.
“After considering several alternatives, we decided on Path Solutions’ iMAL as the most appropriate solution for meeting the needs of the burgeoning Islamic banking segment. By implementing this pioneering core banking solution, AGIB will be able to offer new and unique products in line with the Islamic law to its customers.”
iMAL is a flexible and scalable Islamic banking platform. Architected from the ground up in accordance with the Sharia principles, iMAL empowers Islamic financial institutions to transform their business leveraging technology.
“Path Solutions offers new age Islamic banking software solutions with the ability to scale seamlessly with growing business volumes, ensuring lower total cost of ownership for Islamic financial institutions. Moreover, we take pride in having world-class industry know-how, a proven implementation methodology and a track record of 100 percent successful implementations across the globe”, said Mohammed Kateeb, Group Chairman and CEO of Path Solutions. “This win is further testimony to our breadth of capabilities in helping Islamic financial institutions across Africa transform and grow”.
Path Solutions has a dominant presence in Africa’s Islamic financial services market. The firm claims to have signed more than 100 Islamic banks and financial institutions globally.]]>