Path Solutions, a worldwide provider of Sharia-compliant financial technology solutions, has announced that it signed Al Khaleej Bank in Sudan to its core banking platform.
Al Khaleej Bank complies with the Sharia law and focuses particularly on corporate finance and microfinance, in addition to financing development projects including agricultural, animal and industrial associated fields while providing services such as deposits, automated teller machines, online banking and more.
Dr. Ali Omer Ibrahim Farah, General Manager of Al Khaleej Bank Sudan, said:
“Al Khaleej Bank aims to play a leading role in the banking sector that can contribute to the economic development in Sudan. The bank has high ambitions as well to be the leading banking institution locally, regionally, and distinguished internationally. The company’s iMAL rich banking functionality is the perfect partner for our ambitious project. We are confident that we will be able to provide a seamless customer-centric experience with digital banking tools in a responsive and integrated environment. Additionally, we believe Path Solutions truly understands our culture and values and will focus on supporting our customers with quality products and services based on the Sharia law.”
“At Path Solutions, we remain dedicated to providing the ideal combination of industry-leading technology, process-driven methodology and stellar support that appeal to both current and new clients,” said Mohammed Kateeb, the Group Chairman & CEO of Path Solutions. “We are excited to partner with Al Khaleej Bank and help them grow by offering an innovative banking experience that benefits both their employees and customers alike. iMAL’s unique architecture will deliver the agile scalability needed for Al Khaleej Bank to realize its growth aspirations and support financial inclusion in Sudan.”
iMAL is a next-generation platform with embedded Service-Oriented Architecture (SOA), addressing the core banking, Islamic banking, omnichannel, payments, treasury, origination, liquidity management, risk management, artificial intelligence and analytics, and blockchain requirements of financial institutions to drive business excellence.