31 August 2010 - Path Solutions, the leading provider of software solutions to the Islamic banking industry is proud to announce the accomplishment of the second milestone in the implementation of iMAL solution at al khaliji al islami, the Islamic branch of Al Khalij Commercial Bank (al khaliji) Q.S.C. in Qatar. A 4-month fast-track implementation approach was adopted by Path Solutions’ project team at al khaliji al islami covering the following areas: Retail Banking including Branch Automation, Commercial and Corporate Banking, Treasury, Trade Finance Operations, Credit & Facility Management, Accounting & Finance, Profit Calculation, Qatar Central Bank Reports and SWIFT interface. Khalid Mahdi Al Ahbabi, Head of al khaliji al islami explained, “Today, we are processing all operations in real-time. Our branch is now optimized leading to increased productivity and greater efficiency. Thanks to a great team effort, we are now able to introduce innovative financial instruments that will help us become Qatar’s leading provider of Shari’a-compliant banking products and services”. al khaliji al islami was officially launched on April 29, 2009, offering financial products and services to consumers, businesses, corporations and government institutions in the Qatar market. al khaliji al islami is committed to upholding Shari’a compliance in all its operations, conducts and delivers Islamic banking & finance products, solutions and services. “We are extremely proud of this achievement. The commitment of all team members including the al khaliji al islami team was exemplary and the effort put in by both was phenomenal”, said Alain Abou Khalil, VP Professional Services at Path Solutions. “With the rollout of iMAL system Phase 2, al khaliji al islami is taking a significant step forward in the administration of its banking activities, gaining a sustainable edge over its competitors. This project reinforces our partnership with Al Khalij Commercial Bank (al khaliji) Q.S.C .” Abou Khalil affirmed. al khaliji al islami joins a growing list of renowned Islamic banks and financial institutions where the iMAL enterprise Islamic banking and investment solution has been implemented. All projects were completed to the bank’s satisfaction, regardless of their complexity and the stringent banking regulations
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