Commenting on the software compliance review, Path Solutions ‘ Group Chairman & CEO, Mohammed Kateeb said ” Path Solutions is very keen on strict compliance with Sharia and industry standards in the development of its Islamic banking applications, which reflects the eagerness and interest of our clients and prospects worldwide in adopting our genuinely Sharia-compliant software solutions”. And he added, “This global review of compliance from Deloitte further strengthens our position and places us years ahead of our competitors who are simply unable to launch such pioneering initiatives, which represent an important high value addition to the constant strategic initiatives undertaken by Path Solutions . We consider it a great responsibility to provide our clients with truly Sharia-compliant software solutions and services, and strive to ensure this by meeting the soundest industry standards”.Path Solutions has hired the services of Deloitte’s prominent Sharia experts and professionals in the area of Islamic finance and industry standards, with a specialized knowledge in Islamic banking practices around the world. The Deloitte Islamic Finance Knowledge Center represents a Center of Excellence and a one-stop shop for Thought Leadership in Islamic finance.
iMAL is an industry-proven and trusted Islamic core banking system specifically built from the ground up to support Sharia banking operations. The system is truly geared to address country and region-specific Islamic banking requirements. Moreover, the flexibility and intuitive design of iMAL enables Islamic financial institutions to quickly launch competitive Sharia-compliant products and services while reducing IT dependency and cost.
Originally published on www.zawya.com