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iMAL to power digital banking for Ameen Al-Iraq Islamic Bank

Mohammed Kateeb, Group Chairman & CEO, Path Solutions

Ameen Al Iraq Islamic Bank has selected Path Solutions’ iMAL Islamic core banking platform for its new digital bank in Iraq.

Kamal Suhail Abdulla, Chief Executive Officer, Ameen Al-Iraq Islamic Bank for Investment and Finance, said, “Our ambition is to quickly become a true banking partner for individuals, professionals and businesses, particularly through an equitable, ethical and mutually beneficial relationship. We want to contribute to the construction of a fair and equitable Iraqi financial system. And thus, we aspire to be a great niche bank by embracing modern Sharia-compliant banking. We selected iMAL so we could conform to the Islamic law, easily adapt to the dynamic and complex Iraqi banking landscape, and serve our customers’ financial needs in a secure manner. We are confident that with iMAL we can readily meet emergent regulatory and industry compliance requirements”.

According to the supplier, iMAL’s platform is expected to assist the bank in gaining business agility, create competitiveness and address opportunities. It will facilitate scalability, flexibility and low risk for the bank .

Mohammed Kateeb, Group Chairman & CEO, Path Solutions said, “Islamic banks in Iraq have been quick to realize that banking tomorrow will look fundamentally different from today. The Iraqi market appears to have considerable potential with a relatively large number of Islamic banks. Ameen Al-Iraq is clearly pioneering a path in this segment with a perspective of future development on a regional scale, and we are proud to be their IT partner of choice in their exciting journey. We are delighted to welcome them to the large and growing iMAL family in Iraq and globally”.

Headquartered in Baghdad, Ameen Al Iraq bank offers a wide range of Sharia-compliant financial services for retail, corporate, and trade financing for local corporations and contracting companies, in addition to mobile banking services such as deposits, withdrawals, account transfers, bill payments and balance inquiry.

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