Path Solutionsâ iMAL has been ranked Number One Islamic Banking Solution and the 4th Best Universal Banking Solution in the world by International Banking Systems (IBS) UK, in its Annual Sales League Table results for 2007, unveiled in London on February 28.
Moreover, Path Solutions leads all other IT firms, in the Islamic banking category, in terms of number of new wins for 2007, mainly start-up Islamic banks in the United Kingdom, with a spread over Malaysia and Africa.
IBS report states that Path Solutions had 14 new Islamic banking wins in the past year alone, most of them are live sites today. While Path Solutions is declared the biggest winner of the niche suppliers and the leader in the Islamic banking systems space, this ranking alone is evidence to its valuable contribution to the Islamic banking industry by developing products to meet the newly identified market demands.
Since its inception, Path Solutionsâ iMAL is the choice of over 45 major Islamic financial institutions across the Middle East, Gulf, Africa, Europe and South East Asia, a unique distinction in itself.
Commenting on the ranking, Naji Moukadam, President, Path solutions, said: âWe are glad for being awarded for the second time by IBS as the best Islamic banking software vendor in the world. We continually strive to maintain our growth and sustain our position as a leading IT firm. At the time when Islamic banking was still in its infancy, Path Solutions focused on designing and developing integrated solutions to specifically address the needs of the Islamic finance sector.â
Moukadam added: âOn this occasion, I would like to thank all our clients, new and old, for placing their faith and confidence in us. We are also grateful to IBS for giving us the opportunity to highlight our capabilitiesâ.