Path Solutions, the global Islamic banking software and services company is pleased to announce it has won the gold award for ‘Islamic Finance Technology Provider of the Year’ at the 2016 IFFSA Awards.

Following the conclusion of the inaugural IFFSA (Islamic Finance Forum for South Asia) which was held on 26^th & 27^thof July 2016 in Sri Lanka, the winners of the IFFSA Awards were announced during an award gala dinner in the evening of 27^th July.

The IFFSA Awards night has recognised the contributions made by organisations to the Islamic financial services industry, focusing exclusively on organisations with operations in the South Asia region. Path Solutions stood above other submissions and outperformed its competitors due to its innovations and positive impact on Islamic financial institutions in South Asia mainly Pakistan, Sri Lanka and Maldives. 

Mohammed Kateeb, Group Chairman & CEO of Path Solutions, said, “Few awards hold as much gravitas as IFFSA’s. We’re delighted that it highlights Path Solutions as the undisputable market leader in the Islamic financial software industry in South Asia. This third-party endorsement reflects our innovative approach, superior platform and the market-leading solutions we offer to a niche market. This important acknowledgement is further validation that we are delivering the value intended to the world’s most dynamic marketplaces. Path Solutions’ leadership in this area can also be seen by the company’s network footprint which reaches almost every continent, spanning 34 countries”.

The IFFSA Awards are designed to identify South Asia region’s top performers from the Islamic finance industry, as well as the service providers who have led the way in terms of innovation, compliance and overall expertise in the field.

IFFSA Awards’ panel of judges praised the way in which Path Solutions has been able to develop from the ground up modern Sharia-compliant technologies to meet the needs of a growing community of Islamic financial institutions in South Asia.

One of the main reasons for Path Solutions’ industry recognition is its ability to develop and deliver the most comprehensive industry-focused software to the Islamic financial services sector.

Earlier this year, Path Solutions announced the release of the latest version of the multi-award winning Islamic core banking software, iMAL, which provides users with a modern and updated interface, as well as the addition of several new modules to keep pace with changing legislation and evolving market needs.