Kuwait Finance House (KFH) announced the activation of a new technical system for the Investment Sector from Path Solutions Company called iMal. This new system serves the whole Investment Sector including all its departments, and is rendered a turning point in performance and the methods followed in dealing with the investor, KFH, products and available investment tools, which ensures KFH's relentless efforts to employ high technology in all activities and services.
The acting Assistant General Manager for Investment Sector Abdul Nasser A-Subeih stated in his speech during the celebration of launching the new system, that it offers new, flexible and advanced solutions that will assist KFH to reinforce its existence both regionally and globally; and to face competition by focusing on better products and a level of service that will satisfy clients and global markets.
He added that the integration of the project is a main element and that iMal is successfully integrated with "Core Banking" system, "Swift Alliance" system, "SMS" service, Central Bank of Kuwait's (CBK) reports system and "KFH online". Al-Subeih praised the IT department at KFH for its cooperation to successfully applying and implementing the system in a very competent method; he also praised the unlimited cooperation given by the company, which executed the implementing and activation process.
"Choosing iMal comes at a time where IT has become the cornerstone and focal point of all KFH's activities and services. This includes investment, which is rendered as KFH's path towards globalization, which will add new momentum to these activities. The system provides in-depth solutions that suit the Islamic banking," stated Al-Subeih. Moreover, he said that the amount of investments of KFH and its clients leaves them no choice but to innovate solutions and tools that would make the process easier and match the global guidelines of the investment industry; and the development and demand for Islamic products and banking services.
He mentioned that iMal is one of the most advanced solutions that KFH has chosen after extensive studies to its needs and the aspirations of its clients. After viewing several available programs and solutions, KFH found that iMal is the most convenient and has more benefits, because it specially caters to Islamic investment. The system has many benefits and a high level of privacy, which will shift the bank to better performance and interaction levels.
On the other hand, the President of Path Solutions Najy Mokaddem stated that applying iMal at KFH was one of the strategic goals of the company in 2007; and that not only Path Solution's team takes credit for the completion of the project on time, but this credit extends to all Path Solution's teams in Kuwait and Beirut for assisting their colleagues.
He said," Our global integrated programs that focus on the client and is built on quality plus years of researches; allow us to build a base of business. KFH is capable of offering better various Shariah compliant products; and is confidently approaching regional and global markets."