Product Profile

ETHIX-Financial Solution

Language Support:
 Arab, English, French, Russian
Technology Category: Banking Islamic Finance

Product/Service Description

ETHIX by ITS offers a technology solution for the effective delivery of all Islamic banking instruments such as Murabaha, Financing Ijarah, Tawarruq, Salam, Istisnaa and more. The ETHIX Islamic Finance and Microfinance modules facilitate:

  • The Establishment of finance according to the Shariaa workflow
  • Instalment Payments
  • Rescheduling  of instalments
  • Payoffs
  • Roll Over Deals
  • Early Payments
  • Inventory Management

Customer Overview

Total Number of customers 58
Customer Size Large Enterprise , Medium , SMB
Customer Type Commercial Banks , Corporates , Fund Managers , Investment Banks , Securities Lending & Financing Organizations
Target Market Africa , Asia , Global , North America
Specific georgaphical coverage Middle East
By Branch
Demo & Case Study Urls


    ETHIX by ITS is a flexible, easy to use, user configurable and efficient technology solution that addresses current and future business needs - so that your financial institution can grow, capture market share, and focus on innovation.

    Highly parameterized and secure, ETHIX is an end-to-end Islamic Banking solution that meets the full spectrum needs of the Retail and Corporate Banking business including Treasury and Investment and improves branch and department operational efficiency.

    Features include:

    • The building of a transaction or business rule once and multiple re-uses.
    • Flexibility to adapt to changes in technologies, networks and communications and scale-up
    • Multi-Language user interface with bilingual screens, forms, contracts, vouchers and reports generated as per the preferred language of each user or customer.
    • Built-in engines that facilitate efficient operations while complying with business requirements and validations.
    • Multi-currency on all levels.
    • Ability to view and effectively manage customer risk.
    • Comprehensive messaging and broadcast facility.
    • Straight Through Processing (STP).

    Rule-based to allow creation and testing of new products.

    Real-time online transactions.

    Comprehensive printing module for contracts, receipts and reports (in preferred language).

    • Flexibility to modify reports dynamically
    • Signature Verification for automatic retrieval and validation of signatures.
    • Journaling capability stores all transactions details.


    Platform & Workflow

    Server OS Linux (Red Hat, Mandrake, Debian, SuSe, etc.) , UNIX NetWare (Novell) , Windows Server 2008 (Microsoft)
    Workstation OS Windows , Unix , Linux
    Programming Language and API .net, Gupta, Java
    SetUp and Installation Options On premises/off premises either onsite or remotely
    Deployment Period Average 3-4 months
    Reporting Capabilities

    ETHIX reporting module, ETHIX-360 supports comprehensive daily, monthly and yearly  reporting as well as complying with Central Bank reporting requirements and the reporting needs of the Risk, Operation, and Security divisions.

    Security Options Different authentication techniques are applicable as per the customer request, with a field base security matrix.
    The product/service compliant with the following regulatory standards and regional/country standards , KYC , BASEL III , FATCA , IFRS

    Connectivity, Hosting and Intergration

    Hosting Option Hosted by third party , Inhouse , Hosted by provider
    Hosting provider Customer choice
    Devices Supported Windows
    Compatibility with Database Management System (DBMS) Sybase, Oracle and MS Sql
    Third party integration undisclosed

    Support Services

    Support Option Online Support , Phone Support , Video Tutorials , Knowledge Base
    Onsite support


    Support Location 1
    Country Kuwait
    Address ITS Tower, Mubrak Al Kabeer Street, Kuwait City
    Phone +965 22409100


    Media Coverage (Quick Links)