Africa and Gulf Bank selects Path Solutions iMAL as new core system
Sudan-based Africa and Gulf Bank (AGB) has signed up Path Solutions and its iMAL Islamic core banking system.
The Path Solutions system is set to be deployed across AGB’s retail, commercial and corporate banking channels.
Saleem ul Haq, CEO at AGB, says that the bank selected Path Solutions highlights its commitment to providing “new and innovative services” to its customers.
He adds: “iMAL Islamic core banking platform will support our ambitious growth plans and enable us to bring innovative Sharia-compliant products to market more quickly and efficiently.”
AGB is a relatively new bank, having been awarded a banking licence by the central bank of Sudan following the lifting of sanctions on the country by the US in late 2017.
In January it agreed to acquire the Sudanese business of First Abu Dhabi Bank (FAB), including the transfer of all assets, liabilities and employees.
Mohammed Kateeb, group chairman and CEO of Path Solutions, says that iMAL will give AGB the technology to meet “the soundest Sharia and regulatory requirements, and to scale its business while also delivering personalised customer experience.”
Path Solutions has been on something of a spree in Sudan. The technology vendor picked up two new customers in the country earlier this year in January: Al Khaleej Bank and Ziraat Participation Bank.
Other lenders in the country have been revamping their technology infrastructures this year, including Nile Bank and Balad Bank, both of which opted for Oracle FS.