Abu Dhabi-based Al Hilal Bank has deployed an advanced Islamic banking technology from International Turnkey Systems (ITS Group), a leading IT solutions and software services provider.

The Sharia-complaint Ethix-Profit Computation and Distribution (PCD) Islamic banking system is a suite of pre-defined solutions for Islamic finance and investment.

Al Hilal Bank partnered with ITS with the objective of obtaining a comprehensive solution for automating the bank’s profit and asset management operations, reducing risk, and eliminating the unnecessary costs, time and effort associated with manual intervention.

“Our Strategic partnership with ITS enables us to deliver a comprehensive solution that satisfies the Islamic banking needs of our customers. Since our inception we have maintained a strong focus on innovation and operational excellence. The Ethix system we have deployed reflects these commitments as it facilitates real time calculation and distribution of profit and losses across all

transactions in a highly efficient and accurate manner,” said Mohamed Jamil Berro, CEO.

The solution is designed to support financial institutions to reach operational excellence, accommodate growth and achieve cost leadership in the terrain of financial services.

Ethix provides multi-channelled corporate and retail products and services in Islamic finance and investment 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 and can only serve to enhance their competitive edge. - TradeArabia News Service