ETHIX Islamic Banking Solution Addresses the needs of the Saudi Islamic Banking and Investment Banking Market
Enabling Expansion and Supporting Product Diversification through Technology.
International Turnkey Systems (ITS); the global leader in ethical banking solutions for Islamic banks and Islamic financial organizations for over two decades, and a member of the AAOIFI and the international foreign exchange (IFX), participated in the Islamic Finance Forum (IFN) held this year at Saudi Arabia focusing on the Islamic Issuers and Investors in Saudi Arabia and the Middle East.
During the event, ITS pulled the dust sheet off its latest investment and treasury solution which is part of the whole ETHIX Islamic banking platform. ETHIX-Investment and Treasury empowers organization’s unique needs and covers hedging, capital market, foreign exchange market, fixed income and money market. It also manages bank assets or customers’ assets, portfolios, and treasury operations lifecycle including cash management, foreign exchange, liquidity management, cash flow forecasting, cash concentration, fund, Sukuk and assets management.
ITS also provided a brief overview on ETHIX multi-channeled corporate and retail products and services in the area of Islamic finance including core banking, trade finance, branch automation, online banking, dashboards and reports in addition to other products and services that represent an answer to the challenges encountered by the financial institutions anywhere in the world and can only serve to enhance their competitive edge.
With 30 years of experience in Islamic banking, ITS Group was a major contributor to the discussions held during the two-day forum about key issues pertinent to Saudi Arabia and the Gulf’s current economic climate and, the latest developments within the region’s Islamic financial market; including recent governmental efforts, issuer and investor interest, potential capital market issuances, as well as tax and regulatory updates.
It also shared in shedding the light on how technology can assist in overcoming fundamental challenges facing Islamic finance in general and investment banking in particular; especially those related to the application of Sukuk structures and transactions and Islamic investment and to the product diversification of wealth management and treasury.
“In addition to networking with some of the industry leaders and liaising with key practitioners in the field during the Gulf’s largest gathering of Islamic finance experts from across the globe ,ITS is glad to share in the pivotal discussions that took place during this renowned and prestigious event. Says Khaled Faraj Al-Saeid, ITS managing director and general manager
“Many important topics were tackled including key issues facing investors in Saudi Arabia and the Gulf, the continuous rise of the Islamic capital markets, Islamic private equity, and venture capital in Saudi Arabia and the Gulf and how technology can support Islamic finance institutions and investment organizations capture potential opportunities of growth, overcome any hurdles and expedite expansion.” He adds.
ITS has been present in the GCC Islamic finance scene for a long time and has continuously contributed with its extensive experience to the dynamic Islamic banking industry and has acted as a key technology enabler for Islamic finance institutions and investment houses. ITS also has considerable contributions in shaping the regulatory and legal framework of Islamic Finance and has invested heavily in its presence in the GCC market through an extensive network of direct sales, partners and resellers with the aim of supporting its customers in the region and providing focused and professional services specifically tailored for the unique needs of this region.