To be the market leader for the ﬁnancial industry and in speciﬁc the Islamic Banking industry
in providing the best innovative, high quality, rich featured and integrated solutions complemented
by the most comprehensive set of consulting, implementation and support sevices.
Our solutions and services allow our customers to realize their full potential
by facilitating efﬁciency and enabling competitive advantage.
Path Solutions is commited to providing the highest quality of IT solutions
and services focusing on: People, Processes, Partners and Products.
“New capabilities emerge just by virtue of having smart people
with access to state-of-the-art technology.”
Robert E. Kahn
ABOUT US VISION
Founded in 1992, Path Solutions To be the most trusted and innovative
is a recognized market leader specialized in provider of information technology
the provision of software solutions for the and services for the ﬁnancial industry.
banking industry with a specialized coverage
for Islamic Financing and Investment Banking. STRENGTH
Path Solutions provides robust solutions
We offer a wide range of Islamic, for the Islamic and investment banking segment.
AAOIFI-certiﬁed and IAS-compliant integrated At the time when Islamic banking was still
solutions covering Core Banking, Customer in its infancy, Path Solutions focused
Services Management, Investment Banking, on designing and developing integrated
Funds Management, Treasury and Trading solutions to speciﬁcally address the needs
in GCC and Global Capital Markets. of the Islamic ﬁnance sector.
Our offerings include project management OBJECTIVE
and integration, strategic planning, Our objective is to aggressively invest
consulting services and outsourcing and continuously anticipate banking
that address the whole spectrum technologies to establish revolutionary
of the global ﬁnance industry and standards in the global Islamic
in speciﬁc the Islamic ﬁnance industry. ﬁnance industry. Therefore, we invest
relentlessly in research and development
Path Solutions retains its commitment to make the most of an ongoing IT revolution
in contributing to the empowerment that promises incredible advances
of the Islamic ﬁnance in Islamic ﬁnance.
industry in the New Economy, through
its Headquarters in Kuwait City, its Research COMMITMENT
and Development centre in Beirut Committed to excellence and guided
and its support ofﬁces in Manama, London, by the highest standards of business ethics,
Karachi and Kuala Lumpur, while maintain- we employ highly motivated and dedicated
ing a presence through partner companies team with extensive business know-how
in other locations around the globe. to ensure total customer satisfaction,
and we strive to uphold our good reputation.
Path Solutions prides itself on the quality
of products and services it offers. ISO 9001 - 2000
All of our business lines are certiﬁed
as ISO 9001:2000 compatible. 025029
PEOPLE AREA OF FOCUS
Path Solutions’ team constitutes Path Solutions’ offerings consist
of full time experts and consultants of a large portfolio of products,
that have subject expertise in: software analysis, services and expertise
• Banking and Investment for the following major business segments:
• Finance • Islamic commercial banking
• Business • Islamic investment banking
• Accounting & funds management
• System Engineering • Islamic retail consumer
• Information System Security and Audit ﬁnancing companies
• Design, Development and Implementation • Investment banking & funds management
• Consumer ﬁnancing companies
Path Solutions is committed BUSINESS KNOW-HOW
to provide the highest quality The extensive business know-how, best
of IT solutions and services focusing on: practices and in-house knowledge base,
• People: We involve our people, in the ﬁeld of Banking and Finance
continuously train and educate at a global level and Islamic Banking
them and share a common team spirit. and Finance at a specialized level,
• Processes: We continuously improve are reﬂected in every single interaction
our processes, products with our qualiﬁed, competent
and services based on feedback and experienced business consultants.
and latest technologies. With proven methodologies, excellent
• Partners: We value long term track record, and zero learning
relationships and open curves, our customers beneﬁt
communications with our customers, from faster and effective implementations.
associates and partners.
• Products: We deliver world-class STRATEGIC APPROACH
end-to-end solutions that meet Intense competition in banking and ﬁnance
the industry’s needs. shorten product life cycles.
To overcome challenges, Path Solutions has
Path Solutions’ 4P Quality Directions focused on delivering ﬁnancial institutions
are designed to maintain with technological innovations to further
our commitment in delivering speed their development and growth analysis.
quality services that exceed
all expectations. SOLUTION FLEXIBILITY
At Path, we keep our promises. Being user deﬁnable and modular
in approach, our solution offers total ﬂexibility.
This allows our clients to select only those SUPPORT CENTRE
modules that are required Our knowledgeable support team is famed
to support their own business requirements. for its extensive business and technical
It also means that the solution can be know-how to respond to the customer
fully parameterized to enable our clients queries and concerns as to ensure
align with industry best practices. immediate and prompt support.
A range of services including consultancy,
SOLUTION SCALABILITY project management, training
Our solution is designed to offer and assistance are made available
our customers the opportunity to grow by Path Solutions’ team when needed.
as their business evolves, without any
system restrictions and with minimum TECHNOLOGY
disruption to their banking operations. In the new economy, technology is a key
driver of competitive advantage.
SINGLE SUPPLIER With Path Solutions, the web
Path develops IT solutions to the complex technology is effectively used
ﬁnancial industry, based on a modular to let the user be on top of the business
approach, and at the same time, irrespective of the physical location.
ensures full and seamless integration
among the different modules. OPEN SYSTEM STANDARDS
With the breadth and depth of our products All Path Solutions’ products are based upon
and services, our clients can beneﬁt from the open system topology.
the lowest Total Cost of Ownership Those products can be operated on any
by dealing with a single supplier. platform in a client server environment.
This product capability provides
SYSTEM OPTIMIZATION our clients with the freedom
Next generation devices demand to choose from a wide range of available
faster ramps and stronger expertise platforms that meet their set standards.
in the continuously challenging
and dynamic ﬁnancial environment. INFORMATION ENABLER
Our broad range of professional The beneﬁt of an automated system can be
support services is ﬁne-tuned realized to its maximum potential if the user
to meet customers’ requirements is enabled with proper information
by driving increased productivity to make better business decisions.
while improving uptime. Our solution empowers clients,
Such practices have a direct through timely and accurate information,
and tangible impact to better service their customers
on bottom-line proﬁtability. and to achieve effective control internally.
Standard built-in reports and the use
of industrial standard tools can satisfy
customers’ needs for any inquiries,
analysis or modeling.
The value proposition of the products
and services offered by Path Solutions
is based upon customers’ serviceability.
One of these backbones
is the production of multilingual
statements to customers
of the Islamic ﬁnancial institutions.
This is done with minimal data entry
at the outset of the system’s
parameterization, whiles the production
of the various statements, advices,
is done automatically by the system
without manual intervention by the end-user.
EFFECTIVE RISK MANAGEMENT
The establishment of a risk management
program is, in itself, a risk control.
Our solution - in compliance with Basel II
& AML - enables our customers to contain
the risk element before they get exposed
to a higher degree of risk through
an effective risk management, which is
built into every single transaction that
is undertaken in the system.
The operational control environment ensures
that the risk management activities are:
• Accurately recorded
• Appropriately reported
• Providing safeguards to the organization assets.
To empower banking, Path Solutions has developed iMAL,
an AAOIFI-certified competitive advantage-providing a broad range
of products and services to various functions within the organization.
“Technology means the systematic application of scientific knowledge to practical tasks.”
John K. Galbraith
iMAL ISLAMIC BANKING • Central information ﬁle management
& INVESTMENT SYSTEM • Portfolio management
The Islamic banking system provides • Facilities credit operation
a comprehensive range of offerings, • Fixed assets
clearly a revolutionary alternative • Personnel and payroll
to the conventional banking system. • Nostro Vostro management
It caters to the needs of all individuals • Proﬁt calculation
and businesses irrespective of race, • Assets and liabilities management
color or creed. • Risk management
Islamic banking has emerged iMAL is based entirely on the Sharia guidelines
along Islamic principles. for the purposes of trade related to Morabaha,
It is practiced as per the Islamic law Modaraba, Ijara, Istisnah, Salam, project
as prescribed in the Sharia known ﬁnancing, real estate and others.
as “Fiqh al Muamalat” or Islamic rules All iMAL modules, business processes,
on transactions which prohibit interest contracts, Islamic accounting treatments,
on both loans and deposits. It operates implications and behaviour
on the principle of sharing both proﬁts are certiﬁed by AAOIFI (Accounting
and risks by the borrower and Auditing Organization for Islamic
as well as the lender. Financial Institutions) and in full
While involving the above, Islamic compliance with IAS (International
banking prohibits activities which Accounting Standards).
are forbidden by Islam such as fraud
in business dealings, gambling, etc. iMAL is a Sharia-compliant product
rich in opportunities for increasing revenue;
To empower banking, Path Solutions It enables a 360° view which
has developed iMAL, an Islamic enhances customer service and increases
competitive advantage-providing cross selling opportunities.
a broad range of products and services In addition, iMAL helps ﬁnancial
to various functions within institutions implement a ﬂexible,
the organization, including: cost-efﬁcient infrastructure
with instant access to accurate,
• Core banking
up-to-the minute ﬁnancial updating
in order to make informed
operational and strategic decisions
at a moment’s notice.
• Funds management This comprehensive approach produces
• Trade ﬁnance a higher Return On Investment to our clients.
iMAL also helps improve purchasing,
budgeting, invoicing, forecasting
and inventory management to further
increase productivity and business
proﬁtability (powerful bank reporting, cash
ﬂow management, easy reconciliation…).
The system also generates multiple reports
in the following categories:
Bills of Materials, General Ledger,
Inventory Control, Multidimensional
Analysis, Multicurrency Management,
Receivables Management and more…
Positive changes are included,
such as reducing the time for performing
month-end closings, simplifying
data entry and accelerating
administrative processes, or ensuring
that banking information is fully reliable.
With iMAL, clients can achieve:
• Efﬁcient speed of service
• Precision of documentary cycle
• Electronic reconciliation-quick notices
• Low operation cost (competitive
• Prompt dispute resolution:
legal, collection, valuation, procedures, etc…
ISLAMIC RETAIL CONSUMER FINANCE Speciﬁcally, the solution is integrated
Path Solutions is a major global developer with general ledger, accounts receivable,
and supplier of software solutions accounts payable, inventory management,
to the Islamic ﬁnance industry. purchase order management
and consignment control.
Islamic Retail Consumer Finance
is created and governed Additionally, Islamic Retail Consumer Finance
by the Islamic law or Sharia. can be integrated with the Enterprise Islamic
Thus, all dealings related to consumer Banking Solution iMAL, to effectively address
ﬁnancing, all transactions, business the source and usage of funds,
approaches, product features, investment covering the following areas:
focus and responsibilities are derived • Off balance sheet positions
from the “Fiqh al Muamalat” itself. from conventional banks or funds
(either listed or unlisted, as well as internally
With Islamic Retail Consumer Finance, managed portfolios)
ﬁnancial institutions will be able to manage • Yield management of funds by size
quickly and reliably, from initiation of subscriber and term of deposit
to completion, all banking transactions. • The ability to provide periodic liquidity
The solution also provides clients with (i.e. daily, weekly, monthly, etc..)
the tool to effectively manage their assets in coordination with your partner acting
and liabilities, to optimize performance, as market maker for Ijara or Murabaha Funds
availability and business value. • The ability to electronically effect periodic
distribution of proﬁts as desired
On the operational front, Islamic Retail (i.e. eliminating the manual process
Consumer Finance automates the following: and its costly back-ofﬁce requirements).
• Credit authorization data capture Through Islamic Retail Consumer Finance,
• Sales and purchases transactions manual and redundant data entry is eliminated
• Installments and contracts management with access to enhancements and updates,
• Collection and legal escalation thus achieving accuracy and efﬁciency
• On-line credit approval with full of the operational workﬂow.
• Reconciliation with third parties
Islamic Retail Consumer Finance solution
is integrated in a homogenous manner
with all other relevant satellite systems.
iMAL Enterprise Banking Solution’s Architecture
CUSTOMER SERVICE & DELIVERY CHANNELS
SMS CSM Aswaq
ATM (Third Party) Connect Anywhere Relationship Kiosk Blotter
Banking Branches Trading
CUSTOMER SERVICE MANAGEMENT
CUSTOMER SERVICE MANAGEMENT OPERATIONS CUSTOMER SERVICE MANAGEMENT OPERATIONS
FOR COMMERCIAL BANKS FOR INVESTMENT BANKS
CDG / RTGSBroker
Facility Islamic Islamic Trade Direct Retail Corporate Transfer
Retail Corporate Assets Lending Treasury
Mgmt Invest Finance Finance Finance Invest Finance Finance Pricing
CORE BANKING OPERATIONS
BatchProcessing CIF FinancialTemplateReports IslamicProfitCalc
Accounting & Budget Control
RiskManagement ProfitabilityAnalysis SalesAnalysis RatioAnalysis
Basel II Balanced Scorecard / Dashboards
Being user definable and modular in approach, our solution offers total flexibility.
This allows our clients to select only those modules that are required
to support their own business requirements.
“Any sufficiently advanced technology is indistinguishable from magic.”
Arthur C. Clarke
Path Solutions’ Outstanding Services
PROJECT MANAGEMENT BUSINESS CONSULTANCY
Project management is a carefully planned At Path Solutions, our team of business
and organized effort specially when consultants, famed for its skillful
implementing a new IT system. maneuvering and expertise, applies
The process includes developing a project innovative thinking, practical tools,
plan with deﬁned project goals and objectives, services and high-quality technology
specifying the needed resources to bring business value.
and associated budgets and timelines They are ready to assist in several required
for completion. It also includes implementing assignments such as fact ﬁnding exercise,
the project different phases according to plan, system implementation, outsourcing, business
including feasibility study, project engineering, etc. with the aim of providing
planning, implementation, evaluation distinguished services to customers.
Path Solutions’ project managers SYSTEM ADMINISTRATION
are determined to administer and accomplish System administration outsourcing is certainly
any project in an optimal manner. the step that the bank should consider.
Path Solutions has made this service available
IMPLEMENTATION & TRAINING to customers with remote-access diagnostics,
Once a ﬁnancial institution has identiﬁed so they can proceed speedily and banks
the right project implementation processes, can work in the most productive manner.
it is time to put them into action. System administration is handled
Path Solutions helps introduce best practice by certiﬁed system engineers in the area
implementation and training processes of RDBMS, operating systems, networking,
to facilitate the development Internet as well as hardware.
of business quality standards.
Path Solutions’ system implementers RESEARCH & DEVELOPMENT
and training personnel conduct As part of its continuous improvement
implementation and technical training of the product, our R&D team follows closely
respectively at customer site for its staff the market through our customers’ feedback,
to effectively exploit it. industry research on market trends
Moreover, if the required training is, and focused input from our users groups.
in some cases, conducted at Path Solutions’ The outcome of our R&D team is integrated
premises, the bank employees would in our product development cycle to ensure
be completely dedicated to the training exercise. continuous improvement of the product
functionality, thus providing our customers
with a state-of-the-art solution.
PATH SOLUTIONS’ CORPORATE ACADEMY Path Solutions’ Corporate Academy was
Due to today’s market changes, founded to provide innovative series
training activity has become of business and technology programs as well
a strategic issue and a key success as trainings on iMAL modules to Path’s clients
element for Path Solutions since and other end-users.
the human factor has become
the major element to establish Path Solutions’ commitment in providing
and maintain a relevant and successful innovative and high quality software solutions
competitive differentiation. and services is constantly reviewed to ensure
that it continues to meet the needs
To succeed in achieving the company of the Islamic ﬁnance sector.
objectives and plans, it is not important to
only come up with innovative creative concepts;
what is more important is an efﬁcient execution.
In this respect, Path Solutions has launched
its Corporate Academy, in order to maintain its
market leadership in terms of operations
and people development.
The Academy’s strategy is:
• To determine key initiatives
and measures of success
• To assess current team members’ strengths
and commitment to the change process
• To create an indispensable rollout learning
plan and to ensure that it touches every
part of the organization
• To partner with leading educational
and training institutions to achieve personal
and business excellence through
investment in people
• To develop standard or customized
seminars/training programs to clients
and other end-users who are new
to the Islamic banking industry
to master the fundamentals.
Our knowledgeable support team is famed for its extensive business
and technical know-how in responding to the customer queries
and concerns as to ensure immediate and prompt support.
“Islamic finance is the art of passing currency from hand to hand.”
Robert W. Sarnoff
Kuwait: P.O.Box 592 Safat 13006 Tel: +965 24824600 Fax: +965 24824500
Bahrain: P.O.Box 2568 Manama Tel: +973 17214072 Fax: +973 17214073
Lebanon: P.O.Box 15-5195 Beirut Tel: +961 1 697444 Fax: +961 1 696744
United Kingdom: First floor, 4 Lombard street, EC3V 9HD, London
Tel: +44 (0) 207 190 2860 Fax: +44 (0) 207 190 2861
Malaysia: Level 40, Tower 2, Petronas Twin Towers Kuala Lumpur City Centre
50088 Kuala Lumpur Tel: +603 2168 4261 Fax: +603 2168 4607
Pakistan: First Floor, Bahria Complex III, MT Khan Road, Karachi 74000
Tel: +92 21 520 2925 Fax: +92 21 563 5388