Path Solutions has partnered with Morocco’s Attijariwafa Bank Group to provide and implement its interest-free core banking platform iMAL.
The partnership seeks to implement iMAL across Attijariwafa Bank’s 31 branches, including Shari'ah-compliant financing, delivery channels and trade finance.
In a statement, Path Solutions said that iMAL will be implemented to run the operations of Attijariwafa Bank Group’s new participative subsidiary Bank Assafa.
The new core banking platform is set to deliver competitive edge to Bank Assafa and bring real benefits to the bank’s customers particularly in areas like Shari’ah-compliant investment, project finance as well as financial messaging and financial reporting.
Mohammed Kateeb, Group Chairman & CEO of Path Solutions, said that the implementation of iMAL will facilitate Bank Assafa’s entire operations, allowing it to serve its customers with true Shari'ah-based banking platform to launch a wide range of innovative products to advance financial inclusion as well as attract the majority of the population that are currently unbanked.