Product Profile

Product/Service Description

iMAL Enterprise Islamic Banking & Investment System is a powerful core banking platform specifically built from the ground up to support Sharia banking operations. It is truly geared to address country and region-specific Islamic banking requirements. It is offered to high-end Islamic banking, investment and financing institutions, based on an advanced open architecture with a robust integration platform.

iMAL is the only 100% Islamic banking solution as certified by AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions) in 2008.

All iMAL modules adhere to the Islamic law and are in full compliance with IAS (International Ac­counting Standards). The system is based on the Sharia guidelines for the purpose of financing related to Murabaha, Mudaraba, Ijara, Istisnaa, Salam, project financing, real estate and others.

Customer Overview

Total Number of customers 136
Customer Size Large Enterprise , Medium , SMB
Customer Type Central Banks , Commercial Banks , Corporates , Fund Managers , FXs , Hedge Fund Administrators , Institutional Investors , Investment Banks , Mutual Fund Administrators , Securities Lending & Financing Organizations
Target Market Global
Specific georgaphical coverage Gulf, MENA

Pricing model is based on the modular capability available in iMAL core banking system, whereby each module is priced separately providing a flexible costing structure to fulfill the following goals:

1- iMAL provides a full suite of modules that address different business requirements for the banking industry. These modules have been packaged to focus on the different business areas in a bank.

2- Provide a product-based configuration of the different core modules, whereby a base license is provided for the main module feature, and subsequently the client can select additional products to be added to the base license. This aims to optimize the product offering to the client and provide a cost effective offering.

3- Regarding the deployment in branches, Path Solutions adopts a flexible branch deployment strategy, whereby the option is availed to the Sales team to configure the deployment offering by choosing one of  the following scenarios:

a. Combination of number of branches and number of users

b. Adopting the pricing based on the number of branches only

c. Adopting the pricing based on the number of users only

d. Adopting the pricing based on the projected number of customer accounts.

The above options provide the flexibility to select the most suited selling approach depending on the target market and client expectations, and accordingly provide a cost effective offering to the potential clients.

4- In addition to the above approach, an embedded quantity discount brackets is adopted to apply a reduced unit cost for the different selection criteria, which again provides a reasonable pricing for the banks operating a big branch network, or projecting a huge number of customers.


    The iMAL core strengths:

    • Supports all known Islamic banking instruments
    • Web interface, N-Tier Java based, SOA architecture
    • With high parameterization capabilities; greater process efficiency, better risk mitigation
    • Multi-currency, multi-branch, multi-company enabled accounting backbone
    • With strong product definition features
    • Fully integrated yet modularized, with Model Bank
    • Highly automated and flexible system
    • Ensures quick time to market products.


    iMAL employs multi-tier architecture using the latest JAVA technology with either Oracle or SAP Sybase as core database servers. These powerful and at the same time affordable Relational Database Management Systems (RDBMS) provide sophisticated data protection and high-speed access to information.

    The system runs on all the main platforms and operating systems requiring only an up-to-date internet browser at the client side.

    iMAL is rich in opportunities for increasing revenue through cross-selling and upselling. It also enables a 360° view which enhances customer service.

    It is also cloud ready and deployable on a fully scalable, multi-server n-tier architecture. It includes out-of-the-box, industry best practice processes that further support rapid implementation, team knowledge transfer and sustainable business processes.

    The fully integrated front, middle and back office Islamic core banking platform, running 24/7 in real-time -iMAL- combines comprehensive business functionality with an advanced, secure, scalable and modular architecture proven to meet the market toughest challenges of today and tomorrow. 


    iMAL enables Islamic financial institutions to carry out essential tasks across retail, corporate and in­vestment banking including core banking, transaction banking, online and mobile, payments & financial messaging, trade services and cash management. These applications help Islamic financial institutions to meet business needs in areas like streamlining operations, introducing new products, improving efficiencies and customer service, and ultimately increasing revenues while reducing risk.

    iMAL provides platform independence, real-time interfaces, extreme usability, full scalability, high-performance, excellent productivity for configuration and deployment, and modular components.

    With iMAL, Islamic financial institutions are empowered to achieve:

    • Built-in Islamic operations standard compliant workflows and system controls
    • Various delivery channels
    • Faster time to market
    • Exact fit to business requirements
    • Phased migration and implementation approach
    • Running businesses in real-time mode
    • Higher operational efficiency:
    • Single integrated platform for all banking activities
    • Flexibility to meet change and growth requirements
    • Cost reduction by implementing STP
    • Optimized business performance
    • Superior customer service
    • Efficient speed of service
    • Precision of documentary cycle
    • Electronic reconciliation (quick notices)
    • Prompt dispute resolution: Legal, collection, valuation, procedures, etc.


    iMAL is based upon customers’ serviceability. One of these backbones is the production of multilingual statements to customers of the Islamic financial institutions. This is done with minimal data entry at the outset of the system’s parameterization, whilst the production of the various statements, advices, is done automatically by the system without manual intervention by the end-user.

    iMAL, which is in compliance with Basel II/III & AML, enables Islamic financial institutions to contain the risk element before they get exposed to a higher degree of risk through effective risk management built into every single transaction that is undertaken in the system.

    In addition, iMAL helps Islamic financial institutions implement a flexible, cost-efficient infrastructure with instant access to accurate, up-to-the minute financial updating in order to make informed opera­tional and strategic decisions at a moment’s notice. This comprehensive approach produces a higher Return On Investment to our clients.

Platform & Workflow

Server OS AIX (IBM) , HP-UX (Hewiett-Packard) , Linux (Red Hat, Mandrake, Debian, SuSe, etc.) , Solaris (Sun Microsystems) , UNIX NetWare (Novell) , Windows 10 (Microsoft) , Windows 2000 Server/Advanced Server/Datacentre (Microsoft) , Windows Server 2003 R2 Standard/Enterprise/Datacentre/Web Server/Small Business (Microsoft) , Windows Server 2008 (Microsoft) , Windows Vista (Microsoft) , Windows XP (Microsoft)
Workstation OS Windows , Unix , Linux , Mac
Programming Language and API Java, Web, HTML5, JSP, REST/SOAP, SOA, Oracle, Sybase. Microsoft Studio for Business Intelligence (BI).
SetUp and Installation Options Flexible installation, centralized JEE deployment for web modules.
Deployment Period Path Solutions is able to bring new clients live in record time from three to six months, while banks migrating their existing systems can be converted in a period of eight to nine months.
Reporting Capabilities Flexibility in Reporting: Our product is based on Jasper Reports for web modules that provide variety of reports formats (HTML, PDF, WORD, EXCEL, TEXT, etc.). Reports are independent from iMAL modules and can be imported to iMAL easily via iMAL*Reporting
Security Options HTTPS communication, database security features, application server security features, specific communication protocols, high availability features.
The product/service compliant with the following regulatory standards Basel II/III

Connectivity, Hosting and Intergration

Hosting Option Hosted by third party , Inhouse , Hosted by provider
Hosting provider Path Solutions
Devices Supported Android , iPhone-iPad , Linux , Mac , Mobile Web App , Web-based , Windows
Compatibility with Database Management System (DBMS) SAP ASE, Oracle database.
Third party integration It depends on the client needs.

Support Services

Support Option Online Support , Phone Support , Knowledge Base


Support Location 1
Country Kuwait
Address United Arab Shipping Company Bldg, Block 6, Bldg 3, 1st Floor, Airport St., Shuwaikh, P.O.Box 592, Safat 13006
Phone +965 22286760
Support Location 2
Country Lebanon
Address Mkalles Highway, Mkalles 2001 Bldg, 3rd Floor, P.O.Box 15-5195 Beirut
Phone +961 1 697444


Media Coverage (Quick Links)