KFH Bahrain chooses ETHIX Total solution and ETHIX Investment and Treasury to Satisfy all their Business Needs through One Shariaa-Compliant Platform

24 December 2012

Abdulhakeem Alkhayyat: "ETHIX Total Solution is a one-stop-shop integrated solution that satisfies all of the bank’s business needs and it provides KFH Bahrain with operational excellence, and streamlined processes".

Khaled Faraj Al Saeed: "KFH-Bahrain’s selection of ITS Total solution underlines the bank’s confidence in the quality level of ITS products and services".

ITS Group, the leading solutions provider for Islamic finance, has announced the completion of its new deal with KFH Bahrain to deploy ITS ETHIX financial solution for Islamic banking, investment and treasury with the purpose of supporting KFH Bahrain in its aggressive expansion plans and increasing its market share in the region.

The wide breadth of offering and business and technological capabilities offered by ETHIX total solution in general and ETHIX Investment and Treasury in particular would support KFH in end to end management of their banking transactions and their treasury and investment business activities. ETHIX total solution and its Investment and treasury component would also support KFH Bahrain to address operational challenges, achieve operational excellence, and attain customer retention through consolidating all of the bank’s corporate and retail business.

“The importance of this deal stems from the fact that ITS has a solid Islamic banking solution that does not only encompass a wide array of business features but is also technologically capable of addressing the needs of financial institutions in the Middle East.” The Managing Director and General Manager of ITS Group, Mr. Khaled Faraj Al Saeed commented after the signing ceremony.

“We are glad that ETHIX is an integral part of the strategic plans of our customers to gain a higher market share and provide better services to their customers. KFH-Bahrain’s selection of ITS total solution underlines the bank’s confidence in the quality level of ITS products and services. We are proud that ITS solutions and services are a key part of the growth strategy of one of the leading Islamic banks operating in the region”. Khaled Al Saeed added.

During the signing ceremony, Mr. Abdulhakeem Alkhayyat, Managing Director and CEO of KFH-Bahrain commented “In a fast changing environment, it is essential to reach out to our customers and offer them the best-in-class services. ETHIX Total Solution is a one-stop-shop integrated solution that satisfies all of the Bank’s business needs and it provides KFH-Bahrain with the ability to achieve its operational goals, provide streamlined processes and will help meet our diverse needs to provide our customers with superior services. We are glad to appoint ITS; our longstanding technology partner, with the responsibility fulfilling our business objectives.”

ITS ETHIX Shariaa-compliant solution is designed to support financial institutions to reach operational excellence, accommodate growth and achieve cost leadership in the terrain of financial services. ETHIX provides multi-channeled corporate and retail products and services in Islamic finance and investment including core banking, trade finance, branch automation, online banking, dashboards and reports in addition to other products and services that represent an answer to the challenges encountered by the financial institutions and can only serve to enhance their competitive edge.

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