Bank Sohar Muscat has deployed iMAL banking software, developed by Path Solutions, at its Sohar Islamic branches in Muscat, Batinah, Salalah and Dakhiliya regions.
iMAL was initially deployed at three branches in May 2013, while fourth and fifth branches have recently gone live with the software. The lender further plans to operate more branches in the next few years by using Path Solutions’ iMAL.
The iMAL Islamic banking solution is technically advanced and combines flexible business functionality with scalable infrastructure.
With iMAL software, the bank will be able to offer its customers with corporate and retail Banking, treasury and trade finance services.
Path Solutions professional services senior vice president Alain Abou Khalil said they are pleased to implement iMAL solution at Sohar Islamic, where the centralised Islamic core banking system will enable the bank to grow its business ten-fold over the next three years.
"We are strongly committed to ensuring that Sohar Islamic is among the other iMAL clients in the Sultanate of Oman who enjoy the broad and reliable after sales support services our team provides," Khalil added.
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Sohar Islamic IT project management & business support senior chief manager Mohammed Soud Al Naamani said the successful implementation of the project in record time is a reflection of their commitment to deliver efficient service to their customers.
"iMAL has improved our capacity to provide value-added, customer-centric on-line and in-branch Islamic banking products and services, while complying with local regulations," Al Naamani added.