Path Solutions announces roll-out of iMAL at Tadhamon International Islamic Bank Yemen

September 14, 2010 - Path Solutions, a leading Kuwait-based banking systems provider today announced that iMAL solution has been successfully deployed at Tadhamon International Islamic Bank (TIIB) Yemen. TIIB implementation was completed on August 21st, 2010; subsequently the bank has dropped its legacy systems and is now fully operational on iMAL.

TIIB has gone through a complicated migration process where full data history was extracted, cleansed and migrated into iMAL database. This strategy was adopted to allow the bank benefit from its historical data through Business Intelligence dashboards and comparative analysis tools. Path Solutions rolled out state-of-the-art iMAL technology in just one year.

On this occasion, Salah El Tahami, Assistant General Manager-IT at TIIB commented, “The bank has geared itself to meet the challenges of difficult economic conditions witnessed the world over. We are reacting to these changed market circumstances by investing heavily in technology towards offering value added services to our customers. This is in line with our institutional intent to soar higher in terms of banking excellence. After much research followed by an extensive evaluation process, we chose iMAL, the market leading and only AAOIFI-certified software solution that could eventually empower TIIB to offer its clientele optimized services and to compete head-to-head with larger banks in the region”.

TIIB with over 23 branches all over the Republic of Yemen, offers banking services in conformity with the precepts of Islamic Sharia. It is the first bank in Yemen to implement Path Solutions’ iMAL Islamic banking solution. Path Solutions believes that Yemen represents a huge growth opportunity for the firm.

“We are proud to see our iMAL solution getting foothold in Yemen. TIIB is our first live customer in the country” explained Alain Abou Khalil, VP Professional Services, Path Solutions. “Yemen is an important focus area for Path Solutions as we want to keep equip local banks with the best Sharia-compliant technology to enhance their competitive edge and customer focus”. Abou Khalil added: “We have worked closely with TIIB’s IT department to harness the full potential of our iMAL solution. A steering committee was set up composed of representatives from both our companies to ensure all requirements were considered. A blueprint defining the project scope and plan, outlining processes, workflow, UAT and system test plans was then devised to guide the implementation process”.

iMAL runs on TIIB’s network using HP-UX 11v3 operating system with Oracle 11g release 2 database on the backend. The system supports also Arabic language functionality as requested by the bank.

About Tadhamon International Islamic Bank Yemen

- Founded in 1995, TIIB’s Head Office is located in Sana’a with a network of 23 branches, 37 ATM machines and has the largest customer base in Yemen.

- TIIB is considered one of the leading banks in Yemen. The bank runs an estimate of 1.415 million USD of assets and its fixed capital is 100 million USD.

- TIIB plays a key role in bridging the gap between the modern banking requirements and the essential values of Islamic legislation resulting in industrious developing standards.

- TIIB ranked first among the top Yemeni banks in the 2008 report issued by the Central Bank of Yemen.

- Learn more about Tadhamon International Islamic Bank Yemen at www.tiib.com