Path Solutions upgrades Maisarah’s core banking platform for enhanced performance

14 October 2019

Path Solutions, the global Islamic banking software company, today announced that Maisarah Islamic Banking Services of BankDhofar has successfully upgraded its core banking platform to the latest version of iMAL.

The successful upgrade will enable further innovation at Maisarah to meet evolving customers’ needs as it expands its business. Path Solutions analyzed Maisarah’s specific IT requirements and adapted them to the latest version of iMAL. The company’s open banking platform allows banks to easily upgrade their core banking technology to be at the forefront of innovation in the financial services industry.

With the new version of iMAL, Maisarah aims to bring the latest technology to its customers to optimize the level of value creation. The system upgrade project onsite activities kicked-off in December 2018 with a timeline of just 9 months, i.e. September 2019 to go live.

Ismail Jama, Chief Operations Officer, Maisarah Islamic Banking Services, commented, “The upgrade of our core system to iMAL R14.1 will ensure providing seamless services to our customers through our digital channels. At Maisarah, we place customers’ satisfaction at the heart of what we do through providing them convenient services”.

Mohammed Kateeb, Group Chairman & CEO, Path Solutions, said, “Collaboration is vital in order to stay ahead in an ever-changing marketplace. By collaborating with our clients to help them identify their customers’ expectations to ensure their daily processes and interactions are continuously enhanced, and investing 30% in R&D, we remain the undisputed industry leader in Islamic financial technologies. iMAL R14.1 will empower our clients to be future-ready, given the rapid digital disruption we are experiencing. The result is a dynamic ecosystem of innovation that will drive growth and customer satisfaction. We look forward to continuing to work with our clients all over the world to modernize their platforms and bring real-time and fully digital banking services to their customers”.

Maisarah, with its dedicated product development unit, has already introduced the best interest-free products for its customers and continues to work on an extensive product range to be rolled out in the future.

Maisarah is the Islamic window of BankDhofar. It offers a vast range of Sharia-compliant products and financial solutions in Corporate Banking, Retail Banking, Investment Banking and Treasury. Maisarah maintains a complete segregation of business activities in order to provide Sharia-compliant financial services to its valued customers. As a part of its strategy, the Islamic banking window has maintained high standards of corporate governance, research and development, corporate social responsibility and customer service that have helped in winning various awards in local and international markets.

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