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Kuwaiti company wins best technical information award in Islamic industry.

The Kuwaiti Path Solutions Company won the

award of best technical information in the Islamic finance industry during the

Kuala Lumpur Islamic Finance Forum. Malaysian Minister in the Prime Minister's Office in the economic

development unit Nor Mohamed bin Tackcop, who sponsored the event, told told

KUNA that a large number of Kuwaiti companies work in the Malaysian market,

achieving much success in its fields. He welcomed all companies working in the local market, especially in the

Islamic finance field, adding that the technical services in the Islamic banks

is one of the key developmental factors in this industry. The Director General of Path Solutions's Malaysia branch office, Rohana

Abdulmen'am, told KUNA that the company was worthy of the award for the

remarkable services it offered in the Islamic finance field. All the companies services are based on the teachings of the Islamic

Sharia, recommended by Accounting and Auditing Organization for Islamic

Financial Institutions (AAOIFI), and International Accounting Standards (IAS),

she affirmed. The company served this industry by offering all the technical solutions

needed by the financial institutions, inclusive of the banking services,

investment, treasury organization, management of money and trades, arranging

the order of the list of responsibilities and profit calculations. The company is offering its services according to 'iMAL' program, which is

capable of resolving risk management in assets and debts, besides management

of deals, she stated. 'iMAL' offers Islamic financial institutions a comprehensive solution that

addresses all their operational requirements, and fully supports various

functions within an organization, including Core Banking, Investments,

Treasury, Settlements, Funds Management, Trade Finance, CIF Management,

Portfolio Management, Fixed Assets, Personnel and Payroll, Profit Calculation,

Asset and Liability Management.

Path Solution headquarters is located in Kuwait, and has many branches in

many countries, namely: Manama, Riyadh, Dubai, Karachi, Beirut, Cairo,

Khartoum, Nairobi, Jakarta, Kuala Lumpur and London.

All KUNA right are reserved 2007.

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Publication:Kuwait News Agency (KUNA)
Date:Aug 4, 2010
Words:318
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