ITS signed by Sohibkorbank for Islamic banking

ITS will provide core and digital banking solutions to support bank's move to Islamic finance

Tags: Banking and financeInternational Turnkey Systems GroupTajikistan
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ITS signed by Sohibkorbank for Islamic banking ITS will provide core banking and digital banking to Sohibkorbank.
By  Mark Sutton Published  November 29, 2018

International Turnkey Systems Group (ITS), has been signed by Tajikistan's Sohibkorbank, to deliver a full Islamic core banking and digital banking solution.

The deal will support Sohibkorbank as it converts into the fully-fledged Islamic bank in the Republic of Tajikistan.

Kuwait-based ITS, which specializes in Islamic finance technology, will provide an Islamic Banking Information System (lBlS) powered by the company's award winning ETHIX solution. The scope of work includes the implementation of a number of the ETHIX modules including ETHIX-Core, ETHIX-Branch, ETHIX-Finance, ETHIX-Net, ETHIX-Mobile, ETHIX-FATCA and ETHIX-360.

Commenting on the announcement, International Turnkey Systems (ITS) CEO, Esam Alkheshnam, said: "I am pleased to join hands with Sohibkorbank to facilitate their conversion into a fully-fledged Islamic bank and to deliver the first Islamic banking system in the Country. This deal represents ITS's successful exploration into Central Asia which is aligned with our strategic expansion plan. We are working to establish ourselves in the region as we continue to expand our brand's geographical footprint and customer network."

Sherali Zardov, CEO of Sohibkorbank said: "We are excited to partner with ITS as we work to complete our transformation to become a leader in Islamic financing in Tajikistan. After a rigorous evaluation process, ITS was selected due to the fact that their ETHIX solution, as well as the high quality of technical support offered by ITS, met our needs. In addition, the ability of ITS to provide support in our local language further demonstrates ITS commitment."

The ITS ETHIX Suite is designed to provide Islamic Banks and financial institutions with a competitive advantage by offering pioneering financial technologies that transform the customer experience.

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