ITS named Best Islamic Technology Provider by CPI Financial

The Islamic Business & Finance Awards 2009 have been designed to recognize and reward excellence throughout the global Islamic Finance community. They honor Islamic Financial institutions from around the world and emphasize on the importance and growth of Islamic finance.

Khalid Faraj Al-Said, Managing Director and General Manager of ITS, accepted the award during a gala ceremony attended by CEOs, industry professionals and top officials representing several IT firms, banks and financial institutions from the Gulf region and beyond.

"We are proud to receive the Best Islamic Finance Technology Provider Award. This award is recognition of ITS's strategic vision, management depth and our belief in Islamic banking principles. Over the past year, we have invested heavily in our Sharia-compliant software and solutions. With the current financial crisis, I see a prospering future for Islamic finance as it still promises stability and success in difficult times."

said Al-Said.

The Islamic Business & Finance Awards were launched in 2005 in response to the phenomenal growth of the Islamic finance industry, currently estimated at $638.3bn. Winners of the award were chosen by the readers of Islamic Business & Finance Magazine who voted for contestants from a shortlist created by a judging panel of rating and consulting firms. Shortlisted firms are judged with greater transparency based on their performance over the last twelve months.

ITS enjoys a proven track record of delivering world-class and state-of-the-art information technology solutions to local as well as regional banks and financial institutions. Over 50 leading banks and financial institutions are using ITS products and solutions including Core Banking, Islamic Banking, Branch Automation, Internet Banking and other technical services.