Path Solutions is a proud winner of the 2020 World Islamic Fintech Awards

Recognized for its strong focus on R&D and for developing the Islamic financial services ecosystem


Path Solutions, a global software and services provider to the Islamic financial services industry, today announced it has emerged as winner of the Best Islamic Financial Software Provider’ categoryin the World Islamic Fintech Awards 2020 of REDmoney Group.

According to the judging committee, the array of submissions received for the category of ‘Best Islamic Financial Software Provider’ was impressive. With contenders from the Middle East and South Asia to Central Asia and Southeast Asia, the decision was certainly not easy.

IFN Fintech spokesperson commented, “This prestigious title has gone to heavyweight Path Solutions which has built an empire over the last three decades, trying to find new opportunities amid chaos to advance its mission. The success of the company is driven by - among others - its strong focus on research and development (R&D). Today’s announcement builds on Path Solutions’ momentum as the company continues to drive impact with some of the world’s most innovative Islamic banks globally despite the unprecedented pressures from the global COVID-19 pandemic. Only recently, Path Solutions has signed a comprehensive software deal with Mogadishu-based Amana Bank to deploy a single, cloud-based digital banking platform to underpin the bank’s operations. Congratulations on a well-deserved accolade”.

The year 2020 has been a greatly challenging year for most. However, the rise of open banking and the massive surge in demand for digital channels in Islamic banks due to COVID-19 lockdowns has placed technology as a survival imperative and a keydriver of growth and differentiation for Islamic banks. Path Solutions is a global industry pioneer and software leader and has built iMAL, the only digital core banking platform certified by AAOIFI, incorporating robust features that support Islamic accounting with traceability, and addressing both international and country-specific banking needs. With seamless processes and digital capabilities in place, iMAL enables Islamic banks to cater for new innovative financing and investment products with minimum setup time and effort, and with a speed and ease of use that is unmatched in the industry. The company is well placed to help Islamic banks achieve Sharia compliance as well as their transformational aspirations.

“For all the right reasons, Path Solutions is the globe’s preferred Islamic banking software provider, equipping Islamic banks with innovative solutions that digitize their business operations and deliver an improved customer experience”, commented Mohammed Kateeb, the Group Chairman & CEO of Path Solutions.“The global pandemic has put our clients at the front lines of dealing with not only a rising demand for digital services, but also an unprecedented number of online transactions. They required the scalability to serve this spike in number of transactions, the flexibility to deliver unique and compelling experiences and the agility to introduce new products at a rapid pace. Path Solutions quickly dedicated its teams and expertise to help them tackle historic challenges with innovative branchless solutions. In a matter of weeks, our powerful Islamic banking technology was able to serve millions of people globally and execute mission-critical workflows. We are honored to be named ‘Best Islamic Financial Software Provider’ in2020 for doing impactful work and helping create a better normal to our Islamic banking community”.

The World Islamic Fintech Awards (WIFA) honor exceptional and deserving fintech providers in the Islamic finance space for their outstanding work in driving Sharia-compliant financial services through disruptive and collaborative technologies. In an atmosphere of seismic disruption across all industries and a vibrant technology ecosystem, only those organizations who have innovated ruthlessly are worthy of being commended.

To view 2020 category winners, go to 

Send us your press releases to

© Press Release 2021

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.

More From Press Releases