Trustbank Suriname selects core banking tech from Path Solutions
Path Solutions and its iMAL core banking system have beaten Temenos and Oracle FSS to a core banking software deal at Trustbank in Suriname.
Islamic Banking
International Islamic Bank picks core banking system and vendor
A greenfield bank in Iraq, International Islamic Bank (IIB), has signed for the ICS Banks core banking system from ICS Financial Systems (ICSFS).
Autosoft Dynamics ousts rival Path Solutions at ex-Burj Bank in Pakistan
Al Baraka Bank in Pakistan is migrating the acquired fellow Islamic bank, Burj Bank, onto the Autobanker core banking system from Autosoft Dynamics.
ITSS delivers Temenos’ T24 core banking system to SAFA Bank
SAFA Bank, a new Islamic bank in Ramallah Palestine, has gone live on the Islamic version of Temenos’ T24 core banking system. The project was delivered by the vendor’s partner ITSS Global.
Bank of Khyber selects Autosoft’s treasury solution
Pakistan’s Bank of Khyber (BOK) has chosen Autosoft Dynamics’ Islamic treasury management system, Adams, and its RTGS STP utility (real-time gross settlement system straight-through processing), AutoRTGS. The government-owned bank will use Adams (automatic deal, money market and securities trading system) for conventional and Islamic treasuries, while AutoRTGS will be used for processing fund transfers between […]
ICSFS gains new core banking system client in Iraq, Al-Arabiya Islamic Bank
Al-Arabiya Islamic Bank (AIB), a greenfield bank in Iraq, has opted for the Islamic version of the ICS Banks core banking system from regional vendor ICS Financial Systems (ICSFS).
Askari Bank goes live on Autosoft’s Islamic treasury solution
Pakistan-based Askari Bank has gone live with Autosoft’s Islamic treasury management system, Adams Islamic, and its RTGS STP utility (real-time gross settlement system straight-through processing), AutoRTGS. The bank can manage its Islamic treasury operations using Adams Islamic as well as process funds transfers between banks using AutoRTGS. Adams Islamic is also integrated with the bank’s […]
Qatar International Islamic Bank recommits to Misys
Qatar International Islamic Bank (QIIB), a long-standing customer of Misys, is implementing the new version of the vendor’s core system for Islamic banks, FusionBanking Essence Islamic, front-to-back office.
NDC migrates Sahara Bank to new core banking system, Temenos’ T24
Libya-based Sahara Bank has gone live with new core banking software, Temenos’ T24 (R14). The project was carried out by Pakistan-based National Data Consultants (NDC), Temenos’ regional partner.
People’s Bank of Zanzibar to overhaul core banking tech with ICS Banks
People’s Bank of Zanzibar (PBZ), a state-owned bank in Tanzania, has concluded its core banking system selection. The bank has signed a deal with ICS Financial Systems (ICSFS) to implement the vendor’s ICS Banks platform.
Top fintech stories this week – 23 December 2016
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! The last weekly news round-up of 2016. Happy holidays from everyone at Banking Technology!
Emirates Islamic Bank live with new core banking system
Emirates Islamic Bank, a Shari’ah-compliant banking subsidiary of Emirates NBD, has migrated to a new core banking platform, Infosys’ Finacle.
Asia’s first Shariah-compliant robo-advisor to launch
Algebra, Asia’s “first Shariah-compliant robo-advisor”, will be launched this December by Malaysia-based Farringdon Group Private Wealth Managers. It will be open to investors from across the globe, with a minimum investment of $200 per month. Funds will follow basic Islamic principles. For example, no stocks may derive income from gambling, alcohol, tobacco, pork products, adult […]
New bank in Iraq selects BML Istisharat’s ICBS core banking system
Al Qurtas Islamic Bank, a new Iraqi bank based in Erbil, has selected the ICBS core banking system from regional supplier BML Istisharat.
Islamic Finance House in Temenos T24 core banking system upgrade
UAE-based Islamic Finance House (IFH) has upgraded its core banking system to Temenos’ T24 R14 platform. IFH has been using T24 since its inception in 2004, and says the latest enhancement “has given way to resource optimisation, scalability management and shortened approval processes”.
Al Hilal Bank’s new CIO looks to collaborate with fintechs
UAE-based Al Hilal Bank has got a new CIO, Gopi Krishnan. He is calling on fintech CEOs to get in touch “to explore ways to collaborate”.
Sungard out, Path Solutions in at Amãna Bank
Sri Lanka-based Amãna Bank has gone live with new treasury and asset management software, supplied by Path Solutions. The new products, iMAL Islamic Treasury and iMAL AssetManagement, replaced a legacy treasury and equity management platform at Amãna. Banking Technology understands that this was Sungard’s Ambit Treasury Management. The new software interfaces to Swift and supports […]
Bank of Punjab automates Islamic treasury; implements new RTGS system
Pakistan-based Bank of Punjab (BOP) has extended its partnership with local software vendor Autosoft Dynamics. Autosoft will implement its new real-time gross settlement (RTGS) system, AutoRTGS, at the bank and will also extend the coverage of the Adams treasury system to support Islamic banking. BOP is already a user of Adams for conventional banking operations. […]
QIB goes live on Temenos’ T24 core banking system
Qatar Islamic Bank (QIB) has finally gone live with a new core banking system, Temenos’ T24, nearly six years after signing the original contract. Gopi Krishnan, CIO at QIB, describes the implementation as the “fastest and most complex transformation programme in the Middle East region in the recent past”. Despite this, it actually was a […]
Path Solutions gains two new takers of iMAL core banking system
Path Solutions is implementing its flagship core banking offering, iMAL, at Summit Bank in Pakistan and Wifack International Bank in Tunisia. The contracts were signed in December and the roll-out is underway. Summit Bank Pakistan-based Summit Bank is implementing iMAL as it looks to grow its Islamic banking presence. Summit Bank was searching for a […]
Hollywood Sharia Law controversy rekindles Islamic finance debate
Controversy over Sharia Law reached Hollywood recently as protesters boycotted the glamorous Beverly Hills Hotel over a tough new code introduced by the hotel’s owner, the Sheikh of Brunei. More prosaically, bankers remain divided over how best to respond to demand for Sharia-compliant banking.
Faisal Bank gets to grips with Islamic risks
As demand for Islamic banking services continues to rise, Faisal Islamic Bank of Egypt has overhauled its risk management to better handle the unique needs of ethical banking.
Put trust in the cloud says Islamic Bank of Britain COO
Banks should not be afraid to go further and faster in their adoption of cloud computing, says Mohamed Gamil, chief operating officer at Islamic Bank of Britain.
Taking ethical banking global
In early 2009, soon after the global subprime fallout, the official Vatican newsletter published a rather contextual referral for Islamic banking, observing that the ‘ethical principles on which Islamic finance is based may bring banks closer to their clients and to the true spirit which should mark every financial service‘, writes Riaz Akhtar, senior consultant, […]
