Tadhamon International Islamic Bank signs historic software agreement with Path Solutions

Tadhamon International Islamic Bank was established initially under the name of Yemen Islamic Bank for Investment and Development and later on was renamed to TIIB to reflect its business expansion ambitions. The objective of the bank is to offer banking services in conformity with the precepts of Islamic Sharia through its main branch in Sana'a and 23 branches all over the Republic of Yemen.

"We are very pleased to partner with Path Solutions. Path Solutions is at the forefront of banking technology, given the number of achievements accomplished recently. This agreement forms a key part of our strategy to improve the services we offer to our customers", said Haj. Abduljabbar Hayel Said, TIIB Chairman.

"The solution will enable TIIB to grow and effectively compete with larger banks while delivering innovative range of Islamic products to market". And he added: "We have very ambitious plans to expand our operations locally and internationally. We see in Path Solutions the right technology partner we can rely on to achieve our goals."

Path Solutions, headquartered in Kuwait, is a leading provider of highly parametric, enterprise banking solutions to the Islamic financial services industry worldwide.

Path's iMAL system covers Core Banking, Customer Service Management, Investment Banking, Treasury, Funds Management and Trading in Global Capital Markets.

Path Solutions offers project management, consulting services and outsourcing that address the whole spectrum of the global finance industry and in specific the Islamic finance industry.

Nazzem Yaghmour, Path Solutions' EVP Business Development commented:

"This deal is strategically important to Path. TIIB has managed to position itself as one of the leading financial players in Yemen's banking sector and abroad. They have gone through a very comprehensive selection and professional due diligence exercise to select a Core banking system that can help them realize their business expansion plans. We are proud to be their selected technology partner. We are committed to providing TIIB with the best possible user experience and technology know-how."