Burj Bank Limited (BURJ) formally appointed Path Solutions as their core banking solutions provider in a signing ceremony held recently in Dubai. The agreement was signed between Mr. Ahmed Khizer Khan, President & CEO, Burj Bank and Mr. Mohammad Kateeb, Group Chairman & CEO, Path Solutions. “We have signed Path Solutions’ iMAL to facilitate the delivery of world-class banking services as we aggressively grow our customer base in the country”, said Ahmed Khizer Khan, President and CEO of Burj Bank. He further stated that “the AAOIFI-certified core banking solution would give us a competitive advantage by helping us in exponentially improving the service experience. The solution will also allow Burj Bank to reduce costs, improve efficiency and ensure best value while providing differentiated Shari’ah-compliant banking products”.
Burj Bank is currently the fastest growing Islamic bank in Pakistan with 50 branches throughout the country and plans to expand to over 300 branches in the next five years. iMAL Islamic core banking solution will facilitate the corporate and retail financing, trade finance operations, branch automation, investment banking, risk management & alternate delivery channels at Burj Bank.
Commenting on the win, Mohammed Kateeb, Path Solutions’ Group Chairman & CEO said, “Pakistan is a country of key focus for us and we continue to be committed to the needs of the local banks in Pakistan. Winning this strategic deal will solidify our position in the country as the preferred provider of Shari’ah-compliant core banking solutions. We are proud of partnering with Burj Bank and we look forward to working closely with them to harness the power and flexibility of iMAL for business transformation”.