Path Solutions voted Islamic Banking Solution Provider of the Year 2017

26 April 2017

Kuwait-based Path Solutions has been named ‘Islamic Banking Solution Provider of the Year 2017’ at the just-ended Beacon of ICT (BoICT) 2017 Awards. This is the third time that Path Solutions has been named first on this prestigious list, standing out from competition and beating ICS Financial Systems in the finals.

The BoICT Awards are annual ICT awards recognizing organizations and individuals’ contributions to ICT development in Africa. The awards which were instituted in 2008, are organized by Ken Nwogbo, the Founder and Editor-in-Chief of Nigeria CommunicationsWeek, a leading Nigerian ICT newspaper.

“Receiving this distinction two years in a row is a great privilege, and one that demonstrates our passion for delivering world-class Islamic software solutions across all verticals that meet local regulations and standards”, said Mohammed Kateeb, Path Solutions’ Group Chairman & CEO. “Path Solutions enjoys a solid and established reputation in the African market. Africa represents 24% of the company’s client base. This award will further inspire us to continue to lead the Sharia-based technology sector in the African continent in the years to come”.

Path Solutions offers an extensive suite of software solutions and services to address the growing needs of the Islamic finance sector. The company helps its clients to manage all of their front-to-back office software needs, cut costs, meet Sharia and regulatory requirements, exceed their customer expectations, fend off competition and increase their market share.

Commenting on the award, the spokesperson of Communication Week Media Limited, the publishers of Nigeria CommunicationsWeek, said, “I am very pleased to have the honour of informing you that Path Solutions has emerged winner in ‘Islamic Banking Solution Provider of the Year’ category in the 2017 BoICT Awards. You are a clear leader in the sector as over 351,924 of our readers voted for you. This is a strong testament of your innovations, contributions and commitment to the growth of the ICT industry, and we are happy that Africans have indeed recognized your outstanding work and excellence”.

The BoICT Distinguished Lectures/Awards are widely regarded as the largest gathering of ICT practitioners and regulators under one roof. The Award Ceremony rewards best practices and recognizes outstanding contributions to the growth of the Islamic finance sector, while the Distinguished Lecture, now in its eight year, is aimed at charting the way forward for the country’s ICT industry. The theme of the 2017 BoICT Lecture was “Empowering Youth Through Digital Citizenship”. The theme leans heavily on the fact that Information and Communication Technology has become a vital player in the development of modern society.

This year’s BoICT Distinguished Lecture and Award Ceremony were held in the presence of local dignitaries on Saturday, April 22 at the prestigious Eko Hotels and Suites in Lagos. The ceremony was chaired by Prof. Umar Garba Danbatta, Executive Chairman of Nigerian Communications Commission (NCC).

Path Solutions is engaged in the development and implementation of software solutions and services to address the growing needs of the Islamic finance sector. The company’s services include strategic consultancy, project management, system integration, data migration, version upgrades, training and support for its innovative suite of software solutions. Covering the needs of the Retail, Corporate, Wholesale, Investment, Islamic and Microfinance segments, Path Solutions provides modular and fully integrated software solutions in accordance with the Sharia. 

Path Solutions’ success can be attributed to its multi-award winning Islamic core banking system iMAL that serves and supports the world’s leading Islamic financial institutions across the globe. Another flagship product of Path Solutions is iSHRAQ, a web-based solution built using Microsoft .NET platform for Financing & Investment SMEs. The company provides cloud-ready and on premise software solutions with a robust set of capabilities to help Islamic financial institutions enhance their most distinctive operations.

Path Solutions helps its clients to manage all of their front-office and back-office software needs, cut costs, meet Sharia and regulatory requirements, exceed their customer expectations, fend off competition and increase their market share. The company’s multilingual team combines deep technical expertise with industry know-how to provide a market-leading array of professional services.

Path Solutions is headquartered in Kuwait City, with world-class R&D centers in Beirut, Cairo, and Kerala and support offices in Dubai, Karachi, Khartoum, Kuala Lumpur, London, Manama and Riyadh, while maintaining a presence through partner companies in other locations around the globe.

Beacon of ICT Awards (BoICT)

Nigeria CommunicationsWeek selects the awards’ recipients of BoICT through a yearly voting process in which readers of the newspaper cast their votes. The process is confidential and the identity of winners is not revealed prior to the award ceremony. Winners are then selected through a transparent voting method that is widely publicised online.

Nigeria CommunicationsWeek also retains independent financial experts and economists with accredited training and recognition in the market, needed for evaluation, and who analyze information and provide impartial and credible advice to the award jury members.

The BoICT plaque symbolizes a pledge to the principles of excellence and innovation culture.

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