Path Solutions, the global Islamic banking software provider, has announced that Bank Assafa has gone live with the latest version of iMAL in its headquarters in Casablanca.
Bank Assafa is a wholly owned subsidiary of Attijariwafa Bank in Morocco, specialising in participative finance. Founded in July 2017, the bank offers a range of ethical banking products, which are compliant with the Higher Council of Ulema guidelines.
With the rollout of the AAOIFI-certified iMAL core banking platform, Bank Assafa will be empowered to offer a complete array of Sharia-compliant products and services to its corporate and retail customers.
Today, Bank Assafa is the largest French user of iMAL. This latest implementation combined with a local support presence and commitment to the region will contribute to increasing the footprint of Path Solutions in Morocco and North Africa by extending participative finance services to a broader community of clients.
As part of the project scope, the following interfaces have been implemented onsite; Cheque and Bill Clearing interfaces with PROCHECK and GSIMT, HR interface, UTRF, Credit Bureau, CCB, DGI, CNSS, PPR, Incident Payment, Security Document (Cheque Printing), Compliance (Siron), and Office des Changes.
Furthermore, Path Solutions’ project team has ensured a successful transition of legacy data into the new iMAL system including Customer Creation, Account Creation, Islamic Deals, Standing Orders, Voided Cheques, Certified and Banker’s Cheques, Standard and ATM Hold of Funds.
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