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Path Solutions

Digital Solutions for the Islamic Finance Sector

Path Solutions (Kuwait)

P.O.Box 592, Safat 13006
United Arab Shipping Company Bldg
Block 6, Bldg 3, 1st Floor, Airport St., Shuwaikh

Path Solutions (Kuwait)

P.O.Box 592, Safat 13006
United Arab Shipping Company Bldg
Block 6, Bldg 3, 1st Floor, Airport St., Shuwaikh

Path Solutions is a Fintech digital solutions provider, serving more than 140 Islamic financial institutions worldwide.

We offer a wide range of Sharia-based software solutions and specialised services for retail, commercial and investment banking, as well as microfinance institutions, capital markets, and payment services.

Our processes and methodology serve different client segments, which range from tier 1 multinational banks to mid-sized financial services institutions.

Path Solutions’ technology initiatives include digital and social banking, business analytics and risk management, and compliance solutions. These meet the industry demand for speed, reach and predictability.

Delivered in an open, integrated, reliable and cost-effective environment, the company’s multi-award-winning Islamic core banking platform is based on service-orientated architecture (SOA) and supports open banking through open application protocol interfaces (APIs) and web services.

Path Solutions’ clients benefit from new age technologies to ensure business agility, continuity, data integrity and availability, as well as low downtime, and an immediate return on investment (ROI).

Advanced digital Islamic core banking platform

The iMAL Islamic Banking and Investment Suite is specifically built to support Sharia banking operations with vertical applications and delivery channels.

It aims to meet the complex requirements of Islamic financial institutions and address region-specific Islamic banking requirements.

From a technological perspective, iMAL can be deployed on a scalable, multi-server open architecture that supports electronic delivery channels, ranging from banking to ledger, settlement and other back-office services. The system is delivered in a fully open, integrated, reliable and cost-effective environment.

Path Solutions focuses on providing clients with the latest technologies to ensure business agility, availability, continuity and data integrity. It also reduces downtime and provides a significant and immediate return on investment (ROI).

The Java web-based, platform-independent iMAL features integration capabilities to/from third-party systems and can be deployed on any Java EE application server.

In addition, it is cloud-ready, automated and deployable on a fully scalable, multi-server N-tier architecture. It includes leading processes that further support team knowledge transfer, fast implementation, and sustainable business processes to ensure quick time-to-market solutions.

Additional core strengths of the iMAL platform include:

  • Fully integrated yet modularised, with Model Bank
  • Improved process efficiency and risk mitigation
  • Increased parameterisation capabilities
  • Multi-currency, multi-branch, multi-company-enabled accounting backbone
  • Strong product definition features.

Sharia-compliant platform for the Islamic finance sector

Path Solutions owns the only 100% Islamic banking platform certified by The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) in 2008. It is the only IT company globally that has sought AAOIFI certification for its end-to-end Islamic core banking platform to ensure full compliance with Islamic law.

In 2014, following a rigorous and phased approach project that entailed examination sessions with collaboration between Path Solutions and Deloitte’s Islamic finance and Sharia professionals, the Deloitte Islamic Finance Knowledge Center has reported no exceptions on the compliance of the company’s Islamic core banking platform with the Sharia.

Path Solutions’ multi-award winning Islamic core banking platform includes:

  • Full compliance with the Sharia rules, as well as AAOIFI standards and Islamic Financial Services Board (IFSB) guidelines
  • Coverage for all lines of business, such as Islamic investment, financing, payments, treasury management, trade finance and others
  • Availability of a profit / loss distribution engine that provides flexibility in pool definition, profit-sharing schemes, effective simulation tools, and revenue reserves allocation and distribution
  • Support for various Islamic instruments, real estate funds and others
  • Full support of regulatory requirements, reporting, international tax laws and regulations
  • Ability to quickly and efficiently launch new Islamic banking products.

Financial inclusion capabilities

A leading developer in the technology-enabled Islamic financial services sector, Path Solutions aims to facilitate access for Muslim clients.

To achieve this, the company’s chairman and CEO Mohammed Kateeb joined the board of trustees of the Islamic Research and Training Institute (IRTI), a member of the Islamic Development Bank Group (IsDB) to focus on leveraging state-of-the-art technology to mainstream Islamic economics and finance knowledge.

Path Solutions has developed iSHRAQ*Microfinance, a comprehensive microfinance solution that simplifies banking services to the unbanked. It is designed to help microfinance institutions address challenges such as limited financial means, lack of scalability and administrative challenges.

The platform provides microfinance institutions with world-class banking capabilities, which can be used as a cloud-based software-as-a-service (SaaS).  It also offers a modern, agile and highly scalable system for distribution across all digital and assisted channels, along with effective business analytics.

iSHRAQ*Microfinance optimises security, efficiency and ROI for financial institutions, assisting them to develop loans to finance small projects, training and education.

Key characteristics of iSHRAQ*Microfinance include:

  • Improved customer margin with easy integration to alternate channels
  • Seamless integration with a bank’s core banking system
  • Extensive outreach
  • Low operational costs
  • Focus on compliance and fraud prevention
  • Proven and standardised technology.

About Path Solutions

Path Solutions is a leading banking software provider that aims to fulfil Islamic software solutions and services’ requirements on a global scale.

The company’s next-generation core banking platform is available in three different languages at more than 140 Islamic financial institutions across the Middle East, Gulf Cooperation Council (GCC), Africa, Asia Pacific, South America and the UK.

Path Solutions plans to expand in new geographies where legislation is encouraging the innovation and launch of alternative and ethical banking products, particularly in emerging markets.

Path Solutions offers technology products, software analysis, services and expertise for a wide range of business segments such as:

  • Islamic commercial banking and retail consumer financing companies
  • Investment banking and fund management
  • Consumer financing companies
  • Microfinance institutions.

The company’s worldwide client references include the Islamic Corporation for the Development of the Private Sector (ICD), International Islamic Trade Finance Corporation (ITFC), Bank Assafa – Morocco, Bank of Khartoum – Sudan, and BankIslami – Pakistan.

In recognition to its continuing contribution to the global Islamic finance industry, Path Solutions has received recognition from industry top analysts such as IBS Intelligence, REDmoney Group, Gartner, Forrester, CEB TowerGroup, Aite Group, IDC and Celent.

Path Solutions has also been consistently named as ‘Number One Islamic Banking Software Provider’ and ‘Best Selling Islamic Core Banking System Provider Worldwide’ for the past 27 years.


Financial institutions are increasingly moving to expand their definition of risk, by looking at the other potential sources of risk...

Path Solutions (Egypt)

22 Makram Ebeid, 7th Floor
Nasr City, Cairo

Tel: +20 2 26716434

Fax:+20 2 26716435

Path Solutions (India)

Office 309, SCK 01, Smart City
Kakkanad, Kochi
Kerala 682030

Tel: +91 484 2388800

Path Solutions (Kingdom of Bahrain)

P.O.Box 2568, Manama
Office 21, 2nd Floor, Bldg 20, Bahrain Tower
Block 305, Road No. 385, Al Khalifa Avenue
Kingdom of Bahrain

Tel: +973 17214072

Fax: +973 17214073

Path Solutions (Kingdom of Saudi Arabia)

Postal Code 11447, P.O.Box 28774 Riyadh
Office No. 8402, 8th Floor
New Real Estate Bldg, Tower No. 4
Al Malaz Area, Street No. 60
Kingdom of Saudi Arabia

Tel: +966 11 4797774

Fax:+966 11 4797775

Path Solutions (Lebanon)

P.O.Box 15-5195 Beirut
Mkalles Highway, Mkalles 2001 Bldg, 3rd Floor

Tel: +961 1 697444

Fax: +961 1 696744

Path Solutions (Malaysia)

Suite #112, Pavilion, C-GF-08
Jalan Puteri 7/13, Bandar Puteri Puchong
47100 Puchong, Selangor

Tel: +6012 309 3600

Path Solutions (Pakistan)

Office No. B-101 & B-102
1st Floor, Blossom Trade Centre
Plot No. SB 25, Block No. 1 Gulistan-e-Jauhar
Karachi 75290

Tel: +92 21 34156924

Tel: +92 21 34156925

Path Solutions (UAE)

Unit No. R904, Office 13
9th Floor, Reef Tower, Jumeirah Lake Towers
Cluster O, P.O.Box 487232 Dubai

Tel: +971 4 4487570

Fax:+971 4 4487108

Path Solutions (UK)

60 Cannon Street
Great London, EC4N 6NP

Tel: +44 20 7002 1108/9