Al Jazeera Islamic Co. in Qatar goes live with Path Solutions’ iMAL

30 June 2009

Path Solutions, the market leader in the delivery of AAOIFI-certified software solutions to the Islamic finance industry, today announced that Al Jazeera Islamic Co., one of the leading Qatar-based companies specialized in the provision of Islamic consumer financial products to Retail Consumers and SME, has gone live with iMAL Enterprise Banking Solution.

According to Khursheed Hassan, CEO Al Jazeera Islamic Co., this implementation represents not only the relevance of iMAL to the local market, but also its ability to cater for Al Jazeera growth plans. Khursheed said, “Today we can take advantage of the improved workflows and rapid deployment of new products enabled by iMAL to help increase our competitive advantage and market share in Qatar. iMAL offers integrated and comprehensive information on the institution and its customers at all times including a single customer view, and a single view of the enterprise including risk and profitability. It incorporates industry best practices, enabling quick implementation and fast ROI”.

Raghu Iyer, Path Solutions’ Bahrain Branch Manager, commented: “At Path, we deliver a complete business solution that matches country-specific requirements, establishes best banking practices and helps financial institutions optimize their business operations with quick and measurable benefits, and be ready to scale properly to support their growth plans. Al Jazeera Islamic Co. is ready now to expand its customer base without expanding its costs or operational risk”.

He further added: “Our professional services team worked closely with Al Jazeera implementation team to bring the project in on budget and ahead of schedule. The early delivery of this implementation is further evidence of the success of iMAL solution. I am confident that this project will help us establish a long-standing relationship with Al Jazeera Islamic Co.”.

As an internationally established and proven software, iMAL is instrumental in helping financial institutions introduce global standards into their businesses.

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