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iMAL is an integrated and modularized technology solution, which will provide BLME with best-of-breed, ethically-aware technologies, which offer an effective way of managing transactions.
Richard Williams, Finance Director of BLME, comments: 'We look forward to working alongside an expert software provider such as Path Solutions. This partnership will enable us to adhere to principles that are at the core of our business as a wholly Sharia'a-compliant bank, while facilitating the process of meeting ever increasing regulatory compliance needs.'
In addition to implementing a core banking solution, Path Solutions will also provide Islamic financing, treasury and investment modules to facilitate the correct processing of all BLME's transactions.
Nazzem Yaghmour, EVP Business Development of Path Solutions, states: 'We are delighted to be working with BLME and feel confident that we will add value through our experience in providing innovative, market leading technologies, which have proved highly successful in Sharia'a-compliant banking.'
BLME selects Path Solutions' iMAL technology for Sharia'a-compliant transactions
Path Solutions, a worldwide leader in banking software and services, today announced that Bank of London & Middle East (BLME) has selected iMAL Enterprise Solutions to fulfill its Sharia'a-compliant transactions' requirements.
- United Arab Emirates: Monday, July 16 - 2007 at 13:24
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About BLME·Bank of London and The Middle East ('BLME') launched on 9 July 2007 as a standalone, wholesale, Sharia'a-compliant bank based in the City of London.
·BLME will provide a range of high quality Sharia'a-compliant banking services and advice to businesses both in Europe and the MENA region who wish to access innovative Islamic financial products.
·BLME will focus on four main business lines: Islamic Treasury and Financial Institutions, Corporate Banking, Private Banking and Investment Management, Investment Banking.
·BLME is founded and managed by a high quality team bringing together a combination of highly experienced international financiers and leading experts in Islamic finance. Humphrey Percy, who has more than 30 years experience in banking, is Chief Executive of BLME.
Posted by Medilyn Manibo, Assistant News EditorMonday, July 16 - 2007 at 13:24 UAE local time (GMT+4)
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Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AME Info Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AME Info Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions
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