Path Solutions Named Best Technology Solutions Provider to Islamic Microfinance by AlHuda CIBE
- Islamic Finance
- 14.11.2016 10:45 am
Pakistan-based AlHuda CIBE has conferred the “Best Technology Solutions Provider to IMF 2016” award to Path Solutions for promoting global financial inclusion and demonstrating exemplary social responsibility towards a sustainable financial system.
The award was granted to Path Solutions after a rigorous evaluation of a record number of nominations by an internal research team and an award committee at AlHuda CIBE.
AlHuda CIBE is a non-profit organization working for the awareness, promotion, education, training, advisory, consultancy and publication on Islamic banking and finance in Pakistan and around the globe.
Commenting on the award, Mohammed Kateeb, Group Chairman & CEO of Path Solutions said in statement: “We are humbled by this recognition. This award reflects our commitment and dedication to empower our clients not only to secure financial gains but also achieve social goals, and our passion to contributing to economic empowerment and poverty reduction through a wide range of cutting-edge software solutions including Islamic microfinance and advanced delivery channels, among others. We believe that such initiatives confirm that the future of banking lies in coming up with solutions that specifically target the unbanked and the rural communities, achieving wider financial inclusion”.
Path Solutions has been a pioneer in developing a Sharia-based microfinance solution to cater to the unique needs of the Islamic micro-credit and micro-savings industry, a significant progression toward financial inclusion.
Islamic Microfinance provides crucial technology support to Islamic microfinance institutions of all sizes eager to respond to a number of challenges such as limited financial means, cost of reaching the unbanked, lack of scalability and some administrative challenges.
Headquartered in Pakistan, AlHuda Centre of Islamic Banking and Economics (AlHuda CIBE) aims at providing information, analysis and insights into the global Islamic finance industry, with a special focus on Islamic microfinance.
The “First Islamic Microfinance Awards” are a signature initiative of AlHuda CIBE aimed at recognizing industry pioneers and at promoting the concept of poverty alleviation. These are conducted to highlight best practices in Islamic microfinance and celebrate the success of institutions and individuals, with an ultimate objective of promoting social responsibility, gender equality, Sharia authenticity and commitment to Islamic microfinance.
The awards were presented to winning individuals and institutions in a total of 19 distinct categories at the “First Islamic Microfinance Awards” which took place on 9th November, 2016 at Intercontinental Hotel in Nairobi, Kenya. The award ceremony was organized in conjunction with the “6th Global Islamic Microfinance Forum (GIMF 2016)” on 8th & 9th November.