Friday, May 20, 2022
News FlashBank of Abyssinia goes live with iMAL software to support Islamic window...

Bank of Abyssinia goes live with iMAL software to support Islamic window expansion

Ethiopia’s Bank of Abyssinia has gone live with new Islamic banking systems to boost its Shariah banking window operations.

The lender fully integrated Azentio Software’s iMAL IslamicFinancing and iMAL ProfitCalculationSystem in less than four months.

“Islamic banking has been growing rapidly in recent years in Ethiopia. Choosing the right technology partner was critical to stay nimble and move fast,” said Abdulkadir Redwan, the director of interest-free banking at Bank of Abyssinia. “This partnership will create an edge for our Islamic banking operations to operate in a more Shariah compliant manner and comply with the National Bank of Ethiopia’s regulations.”

LEAVE A REPLY

Please enter your comment!
Please enter your name here

IFN Daily Alerts
IFN Weekly
IFN Reports & Supplements
IFN FinTech
IFN Forums
Seminars
IFN FinTech Investor