Riyadh, KSA & Dubai, UAE, April 4, 2011: 3i Infotech, a global provider of IT solutions and services announced that Kirnaf Investment and Installment Company (Kirnaf), a well-known Islamic financial institution based in the Kingdom of Saudi Arabia has implemented our KASTLE suite of solutions along with a comprehensive bouquet of business applications integrating its entire IT operations.

KASTLE Islamic financing solution provided by 3i Infotech to Kirnaf, is a bilingual, certified Shariah compliant, web-based financing software solution that covers all core business functions and support functions of a financing business. KASTLE helps manage complete business life cycle of Asset finance (Auto, Machinery, Equipment and Real Estate), and personal loans for Retail and Corporate customers.

3i Infotech's KASTLE Banking Solution comprises of an extensive range of enterprise banking products that cater to the varied operations and departments of banks and financial services organizations. Kirnaf has opted for the KASTLE Universal Lending Solution (ULS) after a rigorous, competitive and detailed evaluation process. KASTLE ULS also offers integrated Islamic Financing and Leasing Solution, which is the core business application for Kirnaf. This core application is supported by various other applications from 3i Infotech for back-office and support functions. All these applications have been seamlessly integrated by 3i Infotech to form a complete business solution for Kirnaf.

Commenting on this collaboration, Mr. Pankaj Chawla, President - Middle East, India, APAC & Africa Markets, 3i Infotech, said, "We are pleased to have Kirnaf Investment and Installment Company as our esteemed client in the region and this engagement further demonstrates our commitment to the Banking and Financial Services Sector. As a global IT Solutions provider, it is our constant endeavor to provide our clients with end-to-end solutions enabling them to streamline their operations with increased business efficiencies and thereby go-to-market faster." 

Mr. Ahmed Rashid Al Ameer, CEO, Kirnaf Investment and Installment Company added, "With the fast changing business environment, we were looking for an IT partner who would be able to provide us best of the breed solutions and also facilitate us in servicing our customers faster and better. Our collaboration with 3i Infotech will help us further accelerate our operational efficiencies, as they are fully aligned to fulfill our business requirements."

-Ends-

About 3i Infotech Limited:
3i Infotech (www.3i-infotech.com) provides a range of information technology solutions for Insurance, Banking & Finance, Capital Markets, Mutual Funds, e-Governance, Manufacturing, and Retail & Distribution. The Company's quality certifications include ISO 9001:2008 for BPO, ISO/IEC 27001:2005 for Data Centre Operations and ISO/IEC 20000-1:2005 for Data Centre Management Services. The Company has embarked on re-appraisal under SEI CMM ML 5 for all of its major software development centres in India.

Using its domain knowledge and through continuous investment in technologies, 3i Infotech helps corporations in their businesses through its expertise in enterprise-class software solutions, software services, information security consulting, IT infrastructure and disaster recovery solutions. 3i Infotech has a presence across 5 continents and serves customers in 50 countries.

For almost two decades, 3i Infotech has been serving the Middle East and Africa region.
3i Infotech's list of more than 1500 customers includes those in the GCC countries, Africa, Mauritius, the Central Asian Republics and the Mediterranean countries.

About Kirnaf Investment and Installment Company
Kirnaf is an investment and installment company, headquartered in Riyadh. They provide Islamic financial solutions for; Consumer Finance, Real Estate Finance, Merchant Finance and Equipment Finance. The company offers a wide range of customized, customer-friendly financial solutions and services, all in accordance with Shariah principles.

For further information about 3i Infotech Limited, please contact:
Monica Tomar
Group Account Manager
McCollins Media
Mob: 971-55 550 6131
Email: monica@mccollinsmedia.com 

© Press Release 2011