KUWAIT CITY:Path Solutions is proud to announce that it has been selected as ‘Best Technology Solution Provider to Islamic Microfinance’ at the ‘2nd International Islamic Microfinance Awards 2017’, held in conjunction with the region’s most prestigious microfinance gathering, the ‘Global Islamic Microfinance Forum’ on 25th November in Turkey.
The ‘2nd International Islamic Microfinance Awards’ honor organizations that have made significant contributions and effort in implementing financial inclusion and increasing outreach, and are poised to make considerable market impact in the future. They are designed to recognise the reforms, consolidation, integration and expansion of the Islamic microfinance segment across the globe.
Reacting to the award, the Group Chairman & Chief Executive Officer of Path Solutions, Mohammed Kateeb expressed profound gratitude to AlHuda CIBE, the organizers of the awards; noting that the company’s flagship product iSHRAQ*Microfinance was developed based on microfinance and community banking best practices, delivering the necessary control, efficiency, productivity and scalability at a low cost for Islamic microfinance companies.
“We are very pleased by this recognition because of what it represents. One of our main objectives at Path Solutions is to utilize technology advancement to expand financial inclusion by empowering Islamic finance which specifically targets the unbanked and low-income individuals. This award confirms our role as a key player in the future of Islamic microfinance and encourages us to continue to invest in deepening our knowledge and contribution to the microfinance segment, and incites us to continue to bring the latest technology breakthroughs to change the face of banking and its unconventional approach”, Kateeb said.
Path Solutions provides cloud-ready and on premise Islamic microfinance software solutions with a robust set of capabilities to help Islamic microfinance companies enhance their most distinctive operations. iSHRAQ*Microfinance provides unlimited, secured, reliable and convenient access to Islamic financial services that enable customers to withdraw and make deposits into their accounts; repay their loans; check their account balances, and transfer funds remotely, in the most customer centric and Sharia-compliant manner.
The award came on the heels of Path Solutions been recognized as the gold category recipient of the ‘Islamic Finance Technology Provider of the Year’ award at the IFFSA 2017 Awards hosted by UTO EduConsult and held in Sri Lanka last month.