Path Solutions

Path Solutions is a Software company for the banking industry with specialized coverage for Islamic financing and investment banking.

History

Path Solutions was originally incorporated as a Kuwaiti Shareholding Company in 1992 and commercial rollout of software commenced in late 1996. A full integrated product line for Islamic banks and financial institutions began to be launched in 2000. These included iMAL, an integrated suite of services covering Islamic business practices and consulting, project management, system implementation, training and support services.

In May 2008, Path Solutions’ software became the first software of its kind to be certified by the Accounting and Auditing Organization for Islamic Financial Institutions.

Products

Path Solutions’ iMAL is an enterprise-level web-enabled integrated system for the front, middle and back office, providing "straight through processing" (STP) functionality. It is based on Sharia guidelines for the purposes of trade related to Murabaha, Mudarabah, Ijarah, Istisnah, Bai salam, project finance, real estate and others.

iMAL is coded in Sybase Enterprise Application Studio, and operates with Sybase and Oracle databases.

Awards and achievements

Path Solutions was named "Best Islamic Technology Provider" for 2008, 2009 and 2010 in a poll by REDmoney Group, a media group specializing in Islamic financial markets, and "Most Outstanding IT Company for Islamic Finance" at the Kuala Lumpur Islamic Finance Forum (KLIFF) Awards 2010.