Path Solutions, provider of core banking system iMAL and Wahda Bank of Libya signed contract for the deployment of core banking system in order to support the bank full activities of Retail, Corporate and Islamic banking. iMAL will help expand all banking services provided by Wahda Bank.
“We are happy to continue partnering with Path Solutions in this strategic initiative,” says Sreih, chairman, Wahda Bank. “Our decision to implement iMAL has been influenced by our old relationship with Path as we have previously implemented iMAL at EAB London and Path’s reputation as a successful and committed software house in providing true Islamic software solutions. We view this partnership as a key component of our overall business strategy. We are confident that with iMAL, we will be able to launch new products to our customers with reduced time-to-market, become more efficient in our operations and decrease our costs”.
iMAL is an Islamic competitive banking suite providing a broad range of products to various functions within the organization including Core Banking, Investment, Treasury, Funds Management, Trade Finance, Fixed Assets, Profit Calculation, CIF and Risk Management. iMAL is a centralized, multi-lingual, multi-currency solution that delivers unparalleled value to banks. It is also scalable and customer-centric and addresses Retail, Corporate and Investment banking requirements.
“We are delighted to partner with Wahda Bank as their preferred IT partner,” says Naji Moukadam, president of Path Solutions. “This win will enable us to further consolidate our leadership position as the core banking provider of choice for forward-looking banks in North Africa, a key market focus for our banking solutions”.
D.C.