Path Solutions completes successful implementation of iMAL at Bank of London and the Middle East

1 August 2007

Path Solutions has announced that the newly launched Bank of London and the Middle East (“BLME”), a wholesale, Sharia’a compliant bank based in the City of London, has gone live with iMAL, the specialist core banking software designed specifically for Islamic banks and financial institutions.

The successful deployment of iMAL will provide BLME with high performance banking operations from front to back office utilising best-of-breed, ethically-aware technologies, which offer an effective way of managing transactions.

BLME selected iMAL Enterprise Solutions to fulfill its Sharia’a-compliant transactions’ requirements in March 2007, having researched the leading system providers of IT solutions to Islamic financial institutions.

William Purdy, Head of Information Technology at BLME, reported:

“With iMAL we have found a comprehensive software solution which is tailor made to adhere to principles that are at the core of our business as a wholly Sharia’a compliant bank. We believe that this implementation will allow us to respond to our increasing business requisites and will facilitate the delivery of high quality products and services to our customers.”

Alain Abou Khalil, Project Director at Path Solutions, said:

“The swift and successful implementation at BLME is further testament to the continued excellence of Path Solutions’ technology solutions. As part of our commitment to add significant value to our partners, iMAL will provide BLME with innovative, market leading technologies, which have proved highly successful in increasing efficiency of operations for Sharia’a compliant banks on a global basis.”

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development