September 19, 2006 - Path Solutions, a leading provider of software solutions to the banking industry today announced a strategic partnership with Capital Management House - Bahrain for the supply of iMAL Solution to help CMH reinforce its Core Banking, Treasury, Investment, Private Equity and Fund Management implementation.
iMAL Solution will provide CMH with a complete set of products to support the bank's operational requirements.
The contract has been signed on September 18, 2006 in Beirut - Lebanon.
On completion, and under this partnership, Path Solutions will help with the upskilling of CMH, with emphasis on Shariah compliant asset management, fund management, private equity, new issue underwriting, as well as providing capital market operations and financial and investment advisory services.
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About Capital Management House
Capital Management House (CMH), a newly-licensed Islamic investment firm with a global focus, is incorporated in Bahrain as an Islamic investment company. The firm, which has a paid up capital of US$47.7 million, has been established by prominent institutions and business groups from Bahrain and the region.
About Path Solutions
Path Solutions is a major global software services provider primarily offering Islamic banking and Investment banking with a fully integrated comprehensive suite of software applications that support asset, wealth, trading and risk management.
Path Solutions is specialized in the provision of IT solutions to the following major business segments:
-Islamic Commercial Banks
-Islamic Investment Banks
-Investment Banks
-Brokerage Firms
-Fund Managers
Path Solutions' offering consists of a broad range of products from Core Banking to Treasury and from Trade Finance to Assets and Liabilities Management.
It is dedicated to the satisfaction of its clients and employs leading edge technologies while guaranteeing reliable performance and levels of excellence in the quality and efficiency of its services. Path Solutions strategy is to concentrate on its clients needs and markets while strengthening the competitiveness of its software products.
Founded in 1992, Path Solutions is headquartered in Kuwait, with a research and development centre in Lebanon and a support centre in Bahrain.
For more information about Path Solutions, please visit www.path-solutions.com
About iMAL, Islamic Banking and Investment System
iMAL is a new generation of comprehensive enterprise , Islamic banking and investment system addressing the in-depth business functionality and the state-of-art technology in a single highly integrated front, middle and back office system, to provide an effective Straight Through Processing-STP. iMAL is based completely on the Shariah guidelines and is in full compliance with the AAOIFI and IAS standards.
Rim Richani
Corporate Communication
Path Solutions
Tel :+961 1 513444
Fax:+961 1 511744
P.O.Box 15-5195
www.path-solutions.com
© Press Release 2006
