PKIC, Systems Limited & Temenos to enable Core Banking transformation

By Gloria Mathias

Pakistan Kuwait Investment Company (PKIC), Pakistan’s development financial institution, has signed an agreement with Systems Limited to implement the Temenos Core Banking platform.

This collaboration is set to elevate PKIC’s operational capabilities and enhance its comprehensive product portfolio, marking a milestone in the company’s modernisation efforts.

Under the agreement, Systems Limited will deploy the Temenos Core Banking platform to strengthen PKIC’s financial and investment operations. The implementation will cover a wide range of offerings, including structured financial products, treasury services, and shariah-compliant business operations in accordance with the directives of the State Bank of Pakistan (SBP).

Systems Limited will also integrate critical modules such as FCM, ERP, and other regulatory channels, ensuring seamless operations for PKIC.

One key component of this transformation will be Systems Limited’s Islamic Pakistan Model Bank, which will enable PKIC to meet local market regulations and practices. This modernisation will further support PKIC’s mission to drive growth in vital sectors through both traditional and innovative financing solutions.

Saad Ur Rahman Khan, PKIC’s Managing Director, stated, “We are thrilled to partner with Systems Limited on this transformative journey. By integrating the Temenos platform, we are reinforcing our commitment to delivering financial services that cater to the evolving needs of our clients and stakeholders. This partnership is central to PKIC’s mission of supporting priority sectors such as infrastructure, power, technology, housing, and tourism.”

The transformation will enable PKIC to provide financial products more efficiently and will also enhance customer experience and operational agility. Additionally, the adoption of Islamic banking practices will allow PKIC to meet the growing demand for Shariah-compliant financial products, further underscoring its commitment to inclusive growth and financial stability.

Ammara Masood, Global Industries GM BFS at Systems Limited, added, “As a leader in digital transformation, Systems Limited is proud to be at the forefront of PKIC’s modernisation. Our expertise in implementing mission-critical systems across Islamic banks and financial institutions uniquely positions us to drive this transformation. We look forward to helping PKIC meet the evolving needs of small and medium enterprises and contribute to the long-term development of Pakistan’s key sectors.”