Al Jazeera Islamic Co. selects Path Solutions as its Strategic IT Partner

21 November 2008

Path Solutions announced today that Al Jazeera Islamic Co. of Qatar has selected iMAL, Path’s advanced and award-winning solution, to further enhance its quality service and support its expansion plans.

Path Solutions was chosen following a tough competition with all known IT vendors. Al Jazeera saw in iMAL a robust, true Islamic banking solution capable of supporting its continued success and growth plans.

Commenting on the signing, Mr. Khursheed Hassan, Chief Executive Officer of Al Jazeera Islamic Co. said: “Our need to further improve the quality of our services prompted us to review several IT solutions available in the market. We knew that we needed one that could be implemented quickly with smooth integration into any environment, whilst providing the functionality that will allow us to achieve our business goals. iMAL Enterprise Solution fulfilled all these criteria and we are starting the implementation soon”.

Path Solutions’ EVP Business Development, Nazzem Yaghmour explained: “iMAL continues to rapidly evolve to meet wider segment of the Islamic finance world. The largest Islamic banks and Islamic finance companies have found iMAL technology to be the right vehicle for their needs. We are very proud to have Al Jazeera Islamic Co. as another strategic partner to further enhance its technological capabilities in a booming Qatari market”.

iMAL will be implemented at Al Jazeera Islamic Co. replacing its current in-house built system. Path Solutions’ implementation team will work closely with Al Jazeera professionals to ensure a successful implementation.

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