Tadhamon Bank extends partnership with Azentio Software:
- Tadhamon Bank, an Islamic bank in Yemen, renews its partnership with Azentio Software, a Singapore-based tech firm.
- Upgraded to the latest version of Azentio’s Sharia-compliant digital core banking platform iMAL.
Bank Overview:
- Founded in 1996, Tadhamon Bank offers retail and corporate banking services, investment products, and international trade services.
- Aims to bridge the gap between modern banking and Islamic banking values.
- Has been using iMAL since 2010.
Azentio’s iMAL Solution:
- Azentio’s iMAL is cloud-enabled and supports retail, corporate, and investment services while adhering to Sharia law and AAOIFI requirements.
- Latest version offers high data volume processing, web services, and open banking compatibility.
Goals of the Upgrade:
- Tadhamon Bank seeks to become a “digitally advanced bank” through this upgrade.
- Expects increased agility, improved internal operations, and quicker time to market for new products.
IT Manager’s Perspective:
- Qasem Mohammed, IT manager at Tadhamon Bank, sees Islamic banking on the verge of a digital revolution.
- Expects the upgrade to meet customer expectations and adhere to evolving Islamic finance regulations.
