August 19, 2008 - International Investment Bank (IIB), a globally focused Islamic investment bank based in the Kingdom of Bahrain, and Path Solutions, a leading provider of banking software solutions, today announced that IIB will implement iMAL Enterprise Banking Solution. 

IIB has signed software license and implementation agreements with Path Solutions and plans to start the implementation by September 15th 2008. It is adopting iMAL, the system of choice for numerous leading financial institutions, for their entire banking operations.

Commenting on the signing, Said Itani, Head of IT at IIB said: "The Board required us to acquire the Sharia-compliant banking solution in the market that most closely matches IIB's requirements. The selection was rigorous and aimed to fully automate all key business processes and to significantly enhance management information, thereby further increasing our competitive edge". He added: "We are confident that with the implementation of iMAL and the support of Path Solutions, IIB will be able to improve operational efficiency, asset management, risk management and client service".

Path Solutions has a proven-track record in the implementation of Islamic banking software. The company is consolidating its dominant position in the Gulf region and beyond. With a footprint across 4 continents, Path has been acknowledged on different occasions through winning a series of awards for its continuous contribution to Islamic finance in IT.

Nazzem Yaghmour, Path Solutions' EVP Business Development, said: "Operating with state-of-the-art IT system is at the forefront of IIB's business strategy". He added: "'We look forward to a productive partnership with a prestigious institution like IIB, which will further enhance our profile in the region as the leader in Islamic banking solutions. With iMAL, IIB can rest assured that our best-in-class Sharia-compliant banking system will deliver an outstanding return on investment."

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About Path Solutions
Path Solutions is a recognized leader in the delivery of Sharia-compliant software solutions to the Islamic finance industry. It offers a wide range of AAOIFI and IAS compliant integrated solutions covering Core Banking, CSM, Investment Banking, Treasury, Funds Management, and Trading in GCC and Global Capital Markets.

Offerings include project management, consulting services and outsourcing that address the whole spectrum of the global finance industry and in specific the Islamic finance industry.

Founded in 1992, Path Solutions is headquartered in Kuwait, with a Research & Development centre in Lebanon and support offices in Bahrain, UK and Malaysia.

For more information on Path Solutions, visit www.path-solutions.com

About International Investment Bank
International Investment Bank B.S.C. (c) (IIB) was incorporated in Bahrain in October 2003 as an Islamic investment bank, with an authorized capital of $200m and a paid up capital of $43m. In December 2007, IIB concluded a combined rights issue and private placement offering that has increased the issued share capital to $110m and total shareholders' equity to over $200m. The bank's shareholders are high net worth individuals, business houses and institutions from the GCC states. IIB undertakes two core business activities - private equity and real estate - and aims to offer its clients an internationally diversified range of investments generated through its network of strategic partnerships. It has been involved in investments worth more than $2.4bn since its inception.

For more information on IIB, visit www.iib-bahrain.com

© Press Release 2008