Liquidity House leverages iMAL from Path Solutions

17 January 2011

Path Solutions and Liquidity Management House For Investment Co. (“Liquidity House”) today announced the successful implementation of iMAL Islamic Banking Solution at Liquidity House, a Kuwait-based investment company and wholly owned subsidiary of Kuwait Finance House K.S.C.

Leveraging iMAL, Liquidity House is now empowered to operate an automated workflow for project financing including syndication and issuance and trading of Sukuk, asset management activities from its principal Sukuk investment and financing activities.
iMAL has also enabled LMH to achieve optimum efficiency in workflows, reduce transaction recording operational risks and lower costs.

“We are delighted that iMAL has gone live at Liquidity House”, said Alain Abou Khalil, VP Professional Services, Path Solutions. “We are committed to supporting Liquidity House achieve its objective of becoming a significant player in the international Sukuk market and Sharia-compliant structured finance arena”.

According to Abou Khalil, the deployment of the contracted modules has been achieved in four months time where Path Solutions’ project team has accomplished the implementation of the following areas: Capital Market & Securitization, Corporate and Project Finance, Syndication & Distribution, Asset Management, Direct Investment, Sukuk Origination, Sukuk Trading and Liquidity Management.

Liquidity House commenced its operations in September 2008. The company was launched with a paid up capital of Kuwaiti Dinars 100 Million (approx US$ 380 million).

Liquidity House vision is to enable Islamic financial institutions to manage their liquidity mismatch through short and medium term liquid investments structured in accordance with the best market trends through focused and shared values driven by its parent entity KFH.
Liquidity House has been awarded “The Best Sukuk Structuring House in Kuwait” for the IREF ME 2009 Awards.

It has also received the “Most Innovative Islamic Sukuk Deal” Award for the IFC US$ 100 Million Sukuk deal from “emeafinance” at an awards dinner held in London on 9 June 2010.

Mohammad Arif Shaikh, VP Enterprise Support at Liquidity House, commented “The state-of-the-art iMAL solution will support Liquidity House’s focus on business development and market share enhancement by automating the investment and financing operations. Further, the new generation core investment system has provided Liquidity House with a future proof technology platform that promises the flexibility of STP and agility to respond to business needs”.

As a leader in the provision of integrated solutions and services to the Islamic financial marketplace, Path Solutions has a global footprint across 25 countries and has received recognition from industry top analysts including Gartner, Forrester and Celent. The first AAOIFI-certified software firm has earned the top slot in Islamic banking software in the 2009 IBS Sales League Table.

Path Solutions is also the winner of a series of awards for its continuous contribution to Islamic finance in IT, the most notable ones being Sheikh Mohammad Bin Rashid Al Maktoum Award, the KLIFF Award and the IFN Award for “Best Islamic Technology Provider”.

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