Marking a significant turning point in ITS Group’s foray into the Saudi Arabian market, Alawwal Capital is the latest client to come onboard with ITS. The solutions to be employed as part of the agreement include ETHIX-Portfolio, ETHIX-Fund, ETHIX-GL, and ETHIX-Connect.In
a rapid paced environment, Alawwal Capital recognizes the value of the wide
breadth of offering and business and technological capabilities offered by
ETHIX total solution in general and ETHIX Investment in particular to support
the end to end management of their banking transactions and their investment
business activities. ETHIX is a comprehensive, flexible and integrated
solution, which helps achieve operational excellence and facilitates reaching
out to existing and potential customers and meet their diverse needs. The deal
boosts ITS’ position in the Saudi market as a leading banking solutions
provider and being the best choice for investment institutions.
On his part, Chief Executive Officer and Managing Director of Alawwal Capital Mr.
Adnan Tlmisani expressed, "In a rapidly changing environment, it is
necessary to reach our customers and provide them with the best services,"
pointing out that the solutions offered by ITS represent comprehensive,
integrated and flexible solutions, which will help them to achieve operational
excellence, and streamline the bank’s operations, meeting their diverse needs
to provide better services to customers in the Saudi and Gulf market.
He further stated, "Alawwal Capital has a proven track record of significant
achievements and successful delivery of a large number of local
projects a cross of multitude of sectors that includes, but not limited
to real estate, industrial, educational, investment, Takaful insurance, and the
commercial sector. Since ETHIX solutions have been designed within the
provisions of Islamic law to support financial institutions and investments, we
can achieve operational excellence, accommodate growth, and enjoy a reduction
in costs and expenses.”
“ITS is proud to be associated with Alawwal Capital. This new deal is a
testament to the quality of our Sharia’a compliant investment solutions and
services, which are a key part of the growth strategy of the leading investment
institutions and banks in the Gulf region. This feat would not have been
possible without the strong efforts of the sales and development team,” added
Mr. Khaled Faraj Al Saeed, Managing Director and General Manager of ITS Group.
Alawwal Capital was established as one of the first financial companies in
Saudi Arabia, through a license issued by the Capital Market Authority (CMA) in
2006. Alawwal is committed to all legitimate controls that are compatible with
the provisions of Islamic Shariaa, and all its operations are subject to
supervision by a panel of Islamic specialists and consultants, who are renowned
for their knowledge of Islamic Economics.
Alkheshnam: “It is an honour for ITS to win this highly acclaimed award and to be recognized again on the global stage for our flagship product range ETHIX”.International Turnkey Systems Group (ITS), the market leading provider of comprehensive Shariah-compliant financial solutions, was recently awarded the "Best Islamic Finance Technology Product 2017” for its innovative ‘ETHIX’ product range at the prestigious Global Islamic Finance Awards ceremony held in Astana, Republic of Kazakhstan.Commenting on the accolade, which was awarded at a ceremony attended by Senior Ministers, Central Bank Governors, and other VVIPs from across the globe, International Turnkey Systems (ITS) CEO, Mr. Esam Alkheshnam, said: “It is an honour for ITS to win this highly acclaimed award and to be recognized again on the global stage for our flagship product range ETHIX”. He added: “The Islamic Financial Services industry is growing at a fast pace, and the only way for banks and financial institutions to stay ahead of the competition is to continuously innovate and enhance their customers’ experience. ETHIX products are designed to provide clients with competitive advantage by offering the latest financial technologies to enhance their business and this award is a testimony to the continued success of ETHIX in delivering on that promise.”
The Commercial Bank of Dubai (CBD), in collaboration with ITS , successfully concluded the upgrade of Phoenix Core Banking to the latest version “Ethix Core Banking” in record time.The upgrade on the system that was originally deployed in 2012 added a number of features that contribute to Expanding the banking capabilities during normal day operations and end of day operations. Those features included offering full fledge 24/7 banking operations across all branches and Head Office, in addition to Overall performance enhancement and new features supporting among others Digital Banking.
ABOUT MEFTECHMEFTECH is the premier international platform dedicated to innovation in financial services.MEFTECH is the largest and most prestigious event that convenes the entire financial technology community from across the Middle East and North Africa (MENA) region. Featuring industry-leading conferences, a tightly focused trade exhibition and much more, MEFTECH is the definitive platform where top decision-makers share insights with technology providers and collaborate to rethink financial services. Year after year, MEFTECH attracts the financial industry’s best and brightest minds, serving as a conduit for innovative ideas and thinking.
Mr./Chief Executive Officer of International Turnkey SystemsAttention/ Mr. Nasr Al-BikawyPeace be upon you;Thanks and Appreciation Industrial Development Bank presents the heartfelt felicitations on the occasion of Eid AL-Fitr to you and your respected corporate and wishes many happy returns of the day.Our Bank would like to thank your corporate represented in the implementation team for the exerted efforts in the first phase. We hope to keep the same spirit until we finalize the rest of the project implementation to the satisfaction of all parties.Kind Regards/Best Wishes Mosaeid Mohammed AhmedGeneral Manager