Path Solutions Named Best Islamic Technology Provider for the Tenth Time

  • Islamic Finance
  • 26.10.2016 11:30 am

 For the tenth time Path Solutions has won the category of ‘Best Islamic Technology Provider’ in the 2016 Islamic Finance news (IFN) Service Providers Poll conducted by Malaysia-based RedMoney Group. More than 55 percent of readers have endorsed their satisfaction in using iMAL Islamic core banking system from Path Solutions, which this year celebrates its 25th birthday.

According to IFN spokesperson, “For the ninth successive year and 10th time in total, Path Solutions takes the crown for ‘Best Islamic Technology Provider’. This category was extremely close, with a new runner-up emerging this year; Oracle FSS came second in a very tight race, while Malaysia’s Silverlake FSS took third place”.

IFN spokesperson continued, “Path Solutions is one of the most prolific, hardworking and supportive players of the Islamic finance industry, and takes its role far beyond its day-to-day business activities to support technological advances and activities in all its forms. Most recently, the group sponsored the Egyptian Collegiate Programming Contest in order to support the development of young professionals within the industry”. 

The Best Service Providers Poll is conducted annually by the weekly e-newsletter Islamic Finance news. For this 2016 edition, more than 1,900 votes from Islamic finance institutions, issuers, investors and government bodies from around the world determined the leaders in 13 categories. It emerged that Path Solutions is clear favourite by an absolute majority of IFN readers when it comes to technology providers for the Islamic financial services industry.

Commenting on the award, Mohammed Kateeb, Group Chairman & CEO of Path Solutions said, “As Path Solutions is still buzzing from being awarded two of the highest honours at CEO Insight Global Awards 2016/17, we’re gratified to add to our success this prestigious award that we are winning for the tenth time, ninth consecutive year, in addition to being recognized by such a prominent industry-focused publication. But what makes this award exceptional, is earning it through the votes of our esteemed clients and partners - a fantastic validation of the value and technology leadership we are bringing to the Islamic finance industry. Certainly, we are determined to continue this impressive trajectory”.

Kuwait-based Path Solutions is a multi-award winning Islamic banking software house specialized in the provision of integrated solutions and services to the Islamic financial marketplace. With 25 years of solid experience, Path Solutions is well positioned to be the trusted IT partner of forward-thinking Islamic banks willing to capitalize on best-of-breed technologies. The company goes a step beyond traditional software vendors by delivering solutions designed to mitigate Sharia risk, optimize output, minimize costs and which can be easily extended to support geographical and business expansion.

This 10th IFN award is indeed another impressive milestone for Path Solutions.

The IFN Service Providers Poll, now in its 13th year, is known beyond dispute as the leading industry recognition. It prides itself on being the only comprehensive, independent and unbiased guide to the top players supporting the Islamic financial services sector.

The IFN polls take an unbiased and all-encompassing approach in selecting the best Islamic firms in the world. Since their establishment in 2005, the polls continue to be an appropriate representation of the current Islamic financial market landscape and are the industry’s most comprehensive annual polls.

The 2016 IFN award winners will receive their trophies in their respective regions. The first IFN Awards Ceremony will be held at the Mandarin Oriental Hotel in Kuala Lumpur on Wednesday 22nd February 2017, followed by a second one at the Ritz Carlton DIFC in Dubai on Monday 27th February 2017. These high profile events will gather the industry’s elite recognizing excellence, achievement and leadership in the Islamic finance industry.

The IFN Awards Service Providers Poll results will be published in the 2017 Annual Guide (December 2016) and the 2017 IFN Special Awards Report (March 2017).


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