Al khaliji Al Islami, the Islamic banking division of Al Khalij Commercial Bank, has implemented iMAL enterprise Islamic banking and investment solution from Path Solutions.
Path Solutions said that IMAL is AAOIFI-certified and has been approved by many Shari’a boards.
Al khaliji Al Islami’s Corporate & Institutional, SME and Retail Banking customers can now benefit from an advanced product suite covering Islamic Retail Banking, Corporate Banking, Treasury and Trade Finance.
Al Khaliji Al Islami head Khalid Mahdi Al Ahbabi said that the impact of the new system will have major benefits for Al Khaliji Al Islami and its customers.
“Today, we are processing all operations in real-time, leading to maximum productivity and greater efficiencies. Thanks to a great team effort, we are now able to introduce innovative financial instruments that will help us become Qatar’s leading provider of Shari’a compliant banking products and services,” Al Ahbabi said.