Path Solutions selected as 2015 GIFA award recipient

5 October 2015

Garners third recognition from widely respected industry organization 

Path Solutions, a pioneer and worldwide provider of cutting-edge Islamic core banking systems is proud to announce that it has been named “Best Islamic Finance Technology Provider” for a third time at the Global Islamic Finance Awards (GIFA) 2015. 

Launched in 2011 at the ‘First Oman Islamic Economic Forum’ in Muscat, the GIFA awards recognize and celebrate success and contributions of individuals and institutions in the Islamic financial services industry. Their objective is to highlight best practices and key milestones in this extremely competitive sector.

The “Best Islamic Finance Technology Provider 2015” category has been awarded to Path Solutions for maintaining its leading position in the global Islamic financial services sector by continually investing in capacity and technology to stay well ahead of market needs.

“Islamic finance is undergoing huge and exciting changes and Path Solutions is at the center of that”, said Mohammed Kateeb, Group Chairman & CEO of Path Solutions. “To be named GIFA’s “Best Islamic Finance Technology Provider” for the third time is a great honor. This award underscores the growing recognition, on a global scale, of the Sharia-compliant banking technological solutions in order to keep pace with an ever-evolving industry. Vital to our on-going success is the combination of talent, business and technical know-how and the commitment to knowledge sharing. We continue to be impressed with the breadth of impact we leave on Islamic financial institutions - those who are using our advanced software solutions, with many success stories documented to help inspire industry peers”.

“Path Solutions’ Islamic software suite helps Islamic financial institutions become more resilient, more efficient and more competitive, by streamlining their operations and significantly reducing their total cost of ownership”, commented Prof. Humayun Dar, Founding Chairman & CEO of GIFA and Edbiz Consulting. “They have assisted many Islamic financial institutions in achieving their strategic goals of customer retention, enhanced profitability and increased market share. We congratulate Path Solutions on this achievement and wish them further success in the future”.

Since 2011, GIFA has celebrated the world’s most dynamic institutions and highly eminent individuals who contributed in driving the industry forward. Award winners were selected from among hundreds of applicants by a selection committee who bases its decision on criteria including innovation, vision, leadership and industry commitment.

The 2015 GIFA award winners were honored during the GIFA Awards Ceremony in Manama, Bahrain, on September 28, in the presence of HRH Muhammadu Sanusi II, Emir of Kano who received the "Global Leadership in Islamic Finance” award. In addition, the ambassadors of UK, Malaysia and Pakistan in Bahrain also graced the occasion with their presence.

This year sets a new benchmark for Path Solutions as the only IT vendor to be consistently positioned as “Number One Islamic Banking Software Provider” and “Best Selling Islamic Core Banking System Provider Worldwide” for the past 23 years; a position held since its inception in 1992.

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