Path Solutions, a leader in banking software systems with a strong focus on the Islamic banking sector, has won the ‘Best Islamic Technology Provider’ award at the 2017 Islamic Finance news Awards. The company is winning the award for the tenth successive year and eleventh time in total.

Instituted by REDmoney – a leading global provider of specialized Islamic financial media services across three core divisions of publishing, events and training, IFN Awards is one of the most prestigious awards and highly recognized by the global Islamic finance community. The IFN Polls was established in 2005, and continue to be an apt representation of the current Islamic financial landscape.

Speaking on the award, Mohammed Kateeb, Group Chairman & CEO, Path Solutions, said, “It’s an absolute privilege to be voted as ‘Best Islamic Technology Provider’ one more time at the IFN Service Providers Poll 2017. We especially thank our clients and partners for their continued trust and support. They’ve made an informed choice in adopting our state-of-the-art Islamic core banking system that will enable them to add further value to complying with industry regulations, improving their management processes and service delivery. We are again at a pivot point where new technologies are creating new paradigms that will change the shape and face of our industry along with opening up new vistas for the global financial world”.

Kateeb then added, “Path Solutions provides the power of digital transformation, enabling the unbanked to access financial services, improve their lives and secure a better future for them. Our strategy toward 2018 is driven by the ambition to become our clients’ trusted partner in digital life, creating long-term value for them. We will allow them to be ahead of the curve by implementing a digital-first strategy, leveraging new technologies such as big data, advanced analytics, a 360-degree view of the customer and a personalized engagement, thus providing instant fulfillment to their customers. In today’s increasingly digital world, failing to invest in and prioritize technology will come at a cost. We believe it’s time to move into the future”.

The prestigious IFN Awards are based solely on merit, and highlight key players, individuals and innovative firms who have provided the Islamic financial world with ground-breaking initiatives. The award underscores Path Solutions’ momentum to maintaining a leadership position for more than two decades in the evolving Islamic financial marketplace, and the company’s critical role in pioneering industry-specific software solutions and services that are required for its sustainable growth.

“Announcing the IFN Service Providers Poll nominees is always exciting. The special awards honor and celebrate the outstanding annual contributions of those who are the backbone of the Islamic finance community”, commented Lauren McAughtry, Group Managing Editor, REDmoney Group. “Path Solutions’ leadership and business model promote continuous innovation and impactful growth. Their hard work and commitment is vital to ensuring a technologically-standardized Islamic finance industry”, she said.  

In a turbulent year that had its ups and downs — from the geopolitical tensions in the GCC and the ongoing effects of the US elections to giant debut sovereign issuances and oil prices bouncing back — the Islamic finance industry has sailed through successfully.

The IFN Awards recognize and reward the wide range of essential building blocks behind the scenes working to support the Islamic finance industry as it grows ever upwards. This year’s survey has seen a substantial swing with the received votes representing a rock solid review of the real state of the industry and the views of its participants.

The recipients of the IFN Service Providers Poll 2017 will be presented with their awards at a dinner ceremony held alongside the inaugural IFN Global Leaders Forum on 11^th March 2018 in Dubai, and the Asian dinner ceremony on 19^th March 2018 in Kuala Lumpur.

The full results will be published in the IFN Annual Guide in February 2018, and are also available on IFN Website.