| 31 Aug 2010 |
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al khaliji al islami Introducing state of the art Islamic Banking IT Solution
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Doha, Qatar, 31 of August 2010: al khaliji al islami, Islamic banking division of Al Khalij Commercial BankAl Khalij Commercial Bank
(al khaliji) Q.S.C., has introduced the state of the art iMAL enterprise Islamic banking and investment solution in partnership with the world's #1 ranked Islamic banking solutions provider, Path SolutionsPath Solutions. iMAL, the flagship Path SolutionsPath Solutions product, is a robust, proven AAOIFI-certified Islamic Core Banking Solution and has won the approval of many Shari'a boards.
Following a 4-month fast-track implementation, al khaliji al islami's Corporate & Institutional, SME and Retail Banking customers can now benefit from state of the art product suite covering Islamic Retail Banking, Corporate Banking, Treasury and Trade Finance."The impact of the new system will have major benefits for al khaliji al islami and its customers", explains Khalid Mahdi Al Ahbabi, Head of al khaliji al islami. "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 khaliji al islami offers Shari'a compliant financial products and services to a growing base of consumers, businesses, corporations and government institutions. A member of the International Islamic Financial Markets and regulated by the Qatar Central Bank, al khaliji al islami products include Islamic Current Account, General Investment Account, Domestic and International Funds Transfers in major foreign currencies and Murabaha financing products. A dedicated Customer Service Line (+974 4494 0777) is also available to provide the best service to customers."We are extremely proud of this achievement. The commitment of all team members including the al khaliji al islami team was exemplary and the effort put in by both was phenomenal", said Alain Abou Khalil, VP Professional Services at Path SolutionsPath Solutions
. "With the rollout of iMAL system Phase 2, al khaliji al islami is taking a significant step forward in the administration of its banking activities, gaining a sustainable edge over its competitors. This project reinforces our partnership with Al Khalij Commercial BankAl Khalij Commercial Bank
(al khaliji) Q.S.C." Abou Khalil affirmed.
iMAL will provide al khaliji al islami the advantage of a highly customer-centric solution with sophisticated functionality, enabling faster response to customer needs. Implementation of the entire iMAL project was completed to al khaliji al islami's complete satisfaction, regardless of their complexity and the stringent banking regulations.
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About al khalijial khaliji is Qatar's pioneer 'next generation bank' offering a full range of conventional and Islamic banking products and services to retail, business, corporate and institutional customers in Qatar, the U.A.E and France.
Headquarters in Doha, al khaliji is Qatar's second largest retail bank by paid-up capital and a member of the Qatar Exchange 20 Index with approximately QR17.5 billion in total assets, QR9.2 billion in customer deposits.
At al khaliji we believe that success lies in the financial security and development of people to enable them to sustain a prosperous life. Our products and level of service reflect our belief that to be successful, we must to meet the needs of both this generation of employees, customers, investors and business partners and the needs of future generations.
al khaliji's strategy does not simply focus on profitability and increasing market share: it also strives to contribute to the financial sector's sustainability in the markets where it operates.
al khaliji al islami is the Islamic Banking division of al khaliji offering retail and corporate customers a full range of Shari'a compliant financial products and services, including Islamic Current Account, General Investment Account, Domestic and International Fund Transfers in major foreign currencies and Commodity Murabaha financing products.
Al Khaliji France is our subsidiary in Paris, France while includes a network of branches in the UAE covering Dubai, Sharjah, Ras Al Khaima, and Abu Dhabi. This branch network offers customers and businesses the opportunity to expand and grow across the region and throughout Europe.
Visit www.alkhaliji.com and www.alkhaliji.fr to discover the latest 'next generation banking' news and product information.
For more information, please contact:
Al Khalij Commercial BankAl Khalij Commercial Bank (al khaliji) Q.S.C
Abeer Al Kalla
Head of Public Relations & Communications
Asia Street 60, West Bay
PO Box 28000
Telephone: + 974 4494 0646
Email: aalkalla@alkhaliji.com
© Press Release 2010
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