Path Solutions reaffirms its commitment to the Islamic finance industry by developing solutions for Islamic window operations to help financial institutions in grabbing new business opportunities. Thus allowing them to reach new potential customers, maximize their investments and efficiency while being in full compliance with the Sharia regulations.
iWINDOW is a key solution that provides financial institutions with functionality covering Retail and Corporate operations, customers’ fund, and investments that are fully Sharia-compliant. The solution caters mainly for customer service management, Islamic investments and funds, facility management, trade finance, and treasury operations. The solution is made specifically for Islamic banking operations and provides the market best practice.
iWINDOW can be deployed in two modes: Strictly Islamic branches; where accepted deposits are put in an Islamic teller box. This procedure includes implementing Path Solutions’ Islamic core banking system iMAL so as to verify, from inception, that the process is Islamic. And Hybrid branches; where Islamic and conventional deposits are combined in the same teller boxes, and are segregated through product codes. This procedure is done by performing integration with the existing core banking system at the bank. Afterwards, Islamic accounts' balances are mapped to the Islamic profit calculation system, enabling the distribution of revenues to the Islamic depositors.
As Islamic finance keeps expanding, the adoption of Islamic windows in conventional financial institutions constitutes a great opportunity for growth, increased profitability, and new market share. iWINDOW helps financial institutions in reaching these goals, as it covers all Islamic banking requirements while being fully compliant with the Sharia rules and regulations.