Oman based leading bank, Ahlibank signed Path Solutions to implement Islamic Core banking system iMAL to help Ahlibank start its Islamic banking functions which are schedule to take off in the first quarter of 2012.
Ahlibank is the first breakthrough for Path Solutions’ iMAL in Oman and it will deploy the solutions at the bank’s headquarters in Muscat and across its proposed network of Islamic banking branches.
“We are very pleased to forge the partnership with Ahlibank. Path Solutions offers focused services from installation and implementation through to project management and help-desk. Besides, the advanced architecture of iMAL will allow Ahlibank to expand easily, to keep on innovating and quickly launching new Islamic banking products, thus guaranteeing superior customer experience. We look forward to achieving mission success for Ahlibank”. said Mohammed Kateeb, Chairman & CEO, Path Solutions’ Group.
Ahlibank S.A.O.G., erstwhile Alliance Housing Bank, was born with its new identity on January 5, 2008, following its strategic partnership with Ahli United Bank (AUB), a leading regional commercial bank and International Finance Corporation (IFC), a member of the World Bank Group. Ahlibank has since successfully embarked upon the route of establishing itself as a full-fledged Omani commercial bank.
Commenting on recent development Abdulaziz Al Balushi, CEO, Ahlibank, said, “We know there is incredible demand in the market for Sharia-compliant products. This initiative marks a dynamic move into cutting-edge technologies that Ahlibank expects to use as a platform to thrive and outperform competition. We are confident that with Path Solutions’ knowledge of our business, proven methodology and teamwork approach, we will be able to capitalize on strong, continued growth in the sector, achieve higher returns and greater customer satisfaction, alongside cost saving”.
