Path Solutions Scoops Best Islamic Banking Technology Provider Award

Published

7 years ago

19/08/2014

Path Solutions Scoops Best Islamic Banking Technology Provider Award 1

Lauded for outstanding contributions to the global Islamic finance sector

Islamic banking software specialist Path Solutions, was awarded ‘Best Islamic Banking Technology Provider’ for the second year in a row at the Global Banking & Finance Review Awards 2014.

Path Solutions Best Islamic The Global Banking & Finance Review Awards recognise excellence within the global financial community. They have been designed to reflect the innovation, achievement, strategy and progressive changes taking place within the financial sector.

The award, which is the latest in a long string of accolades given to Path Solutions over the past few months, was based on the company’s commitment and dedication to delivering world-leading Islamic software solutions with outstanding value to its clients.

“Every year we see an increase in the number of submissions as well as improvement in terms of quality of the submissions”, said Varun Sash, CEO & Publisher of Global Banking & Finance Review and a member of the judging panel. “The category for ‘Best Islamic Banking Technology Provider’ witnessed a high number of submissions which highlights the increasing demand for technological innovations in the Islamic financial services industry. Path Solutions consistently demonstrated a commitment to quality and innovation and according to judges is believed to be the absolute best software vendor across the Islamic finance sector”.

For over two decades, Path Solutions has been at the heart of the Islamic financial software industry, offering a broad, deep spectrum of Sharia-compliant integrated solutions and services that cover Core Banking, Customer Service Management, Investment Banking, Risk Management, Treasury and Trading in GCC and Global Capital Markets.

Commenting on this recognition, Mohammed Kateeb, Path Solutions’ Group Chairman & CEO said, “We want to thank our clients who continue to inspire us to develop the highest quality of Sharia-compliant solutions and services, hence constantly striving to exceed their expectations. Path Solutions’ track record of success is due in large part to them. We’re looking forward to building on this success with more incredible innovations planned for the coming months”.

About Path Solutions

Kuwait-based Path Solutions is a multi-award winning Islamic banking software house specialized in the provision of integrated solutions and services to the Islamic financial marketplace.

Path Solutions’ iMAL provides a complete suite of Islamic banking applications with a rich sweep of functionality and features, addressing Sharia compliance, local and regulatory requirements. The system is built on JEE platform and is SOA compliant. iMAL runs as web application and can be deployed in multi-tier setup environment.

Path Solutions is present in 33 countries, three continents, and has a client base of over 100 clients that are forward-thinking Islamic banks, Islamic financial institutions or Islamic subsidiaries.

Find out more about Path Solutions here www.path-solutions.com

About Global Banking & Finance Review

Global Banking & Finance Review is an online portal, which has evolved from the growing need to have a more balanced view for informative and independent news within the financial community.

With experienced industry journalists providing up to the minute coverage on Banking, Foreign Exchange, Brokerage, Funds, Islamic Finance, Project Finance, Wealth Management, Corporate Governance, Merger & Acquisitions, Tax and Accounting, Technology, CSR Activities and others all under one global umbrella, the Global Banking & Finance Review is read in over 200 different countries. Its readership includes Presidents, CEOs, CFOs and senior decision makers within Fortune 500 companies, major banks, financial institutions, central banks, and individuals interested in financial markets and news. Learn more about Global Banking & Finance Review http://www.globalbankingandfinance.com

About Global Banking & Finance Review Awards

gbaf awards Since its inception in 2011, The Global Banking & Finance Review Awards reflect the innovation, achievement, strategy, progressive and inspirational changes taking place within the Global Financial community. The awards were created to recognize companies of all sizes which are prominent in particular areas of expertise and excellence within the financial world.

The Awards have evolved and grown to include those in Banking, Foreign Exchange, Insurance, Hedge Funds, Pension Funds, Compliance & Advisory, Corporate Governance, Brokerage & Exchanges, Project Finance, Binary Options, Investment Management, Technology, Asset & Wealth Management, Islamic Finance, Exchange Traded Funds, Real Estate, Corporate Social Responsibility and other areas.

For more information on the awards, please visit https://www.globalbankingandfinance.com/global-banking-finance-review-awards/

Bitcoin and ethereum prices ‘seem high,’ says Musk

Published

2 mins ago

21/02/2021

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Bitcoin and ethereum prices 'seem high,' says Musk 2

(Reuters) – Billionaire CEO Elon Musk said on Saturday the price of bitcoin and ethereum seemed high, at a time when the cryptocurrencies have hit record highs, with bitcoin crossing the $1 trillion market-capitalization threshold.

The chief executive of Tesla Inc, whose recent tweets have fueled the digital-currency rally, made the remark on Twitter while replying to a user who said that gold was better than both bitcoin and conventional cash.

Musk, who earlier in the week remarked that he found the prospect of holding bitcoin adventurous for an S&P 500 company, said in a tweet: “Money is just data that allows us to avoid the inconvenience of barter …”

“That said, BTC & ETH do seem high lol,” he added.

Bitcoin, the world’s most popular cryptocurrency, hit a fresh high in Asian trading on Saturday, extending a two-month rally a day after the digital currency’s market capitalization exceeded $1 trillion.

Ethereum or ether is the second-largest cryptocurrency by market capitalization and daily volume.

Musk, an ardent proponent of digital currencies, has defended Tesla’s recent purchase of $1.5 billion of bitcoin, which has ignited mainstream interest in the digital currency.

(Reporting by Bhargav Acharya in Bengaluru; Editing by Matthew Lewis)

Bitcoin, ether hit fresh highs

Published

23 hours ago

20/02/2021

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SINGAPORE (Reuters) – Bitcoin hit a fresh high in Asian trading on Saturday, extending a two-month rally that saw its market capitalisation cross $1 trillion a day earlier.

The world’s most popular cryptocurrency rose to an record $56,620, taking its weekly gain to 18%. It has surged more than 92% this year.

Bitcoin’s gains have been fuelled by evidence it is gaining acceptance among mainstream investors and companies, such as Tesla Inc, Mastercard Inc and BNY Mellon.

Ether, the second-largest cryptocurrency by market capitalization and daily volume, hit a record $2,040.62, for a weekly gain of about 12%.

Ether is the digital currency or token that facilitates transactions on the ethereum blockchain. In the crypto world, the terms ether and ethereum have become interchangeable.

Ether futures contracts launched on derivatives exchange CME earlier this month.

(Reporting by Vidya Ranganathan; Editing by William Mallard)

World Bank pushing for standard vaccine contracts, more disclosure from makers

Published

23 hours ago

20/02/2021

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World Bank pushing for standard vaccine contracts, more disclosure from makers 4

By Andrea Shalal

WASHINGTON (Reuters) – The World Bank is working to standardize COVID-19 vaccine contracts that countries are signing with drug makers, and is pushing manufacturers to be more open about where doses are headed, as it races to get more vaccines to poor countries, the bank’s president said on Friday.

World Bank President David Malpass told Reuters he expected the bank’s board to have approved $1.6 billion in vaccine funding for 12 countries, including the Philippines, Bangladesh, Tunisia and Ethiopia, by the end of March, with 30 more to follow shortly thereafter.

The bank is working with local governments to identify and fill gaps in distribution capacity, after they purchase vaccines under a $12 billion World Bank program, and also to standardize the contracts they are signing with manufacturers, he said.

The bank’s International Finance Corp, its private financing arm, has $4 billion to invest in expanding existing production plants or building new ones, including in developed countries, but needs more data on where current production is headed, he said.

“We are eager to be investing in new capacity, but it’s hard to do because you don’t know how much of the existing capacity is already committed to the various off-takers,” Malpass said in an interview with Reuters. New or expanded plants could be used to produce other types of vaccinations in the future, he said.

The bank’s funds could be used to expand plants in advanced economies, if the production was earmarked for developing nations, he said.

Malpass welcomed Friday’s pledge by the Group of Seven rich countries to intensify cooperation on the pandemic, saying it could help jump-start deliveries of vaccines to poorer countries, which are lagging far behind rich countries in getting shots in arms.

Data compiled by Our World In Data, a scientific online publication, showed Israel was leading the world in COVID-19 vaccinations, with nearly 82 of 100 people vaccinated, while India and Bangladesh reported less than one person per 100, Many African countries have not started at all.

Malpass said he was heartened by news about new vaccines coming down the road, and about Pfizer Inc and BioNTech SE seeking permission to store their vaccine at higher temperatures, which would ease another obstacle to deliveries in lower-income countries.

(Reporting by Andrea Shalal; Editing by Heather Timmons and Leslie Adler)

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