ITS (International Turnkey Systems) Group, a leading solution provider for both Islamic and conventional banks, has completed deploying its Ethix Core solution for Islamic banking at Capinnova Investment Bank, the Shari’a compliant investment banking arm of BBK.

Capinnova is an independent provider of world-class Shari’a compliant investment products and services for corporate businesses, high net worth individuals, family businesses and government institutions, regionally and globally.

“Despite tough market conditions, the Islamic banking and investment sector continues to show promise and positive growth on a global scale,” said Naveed Anjum, director, head of operations and support at Capinnova. “To drive our leadership position in the industry, we decided to deploy the Ethix Core to enhance our services in the three main business units: Asset Management, Private Equity and Corporate Finance.”

The Ethix Core solution for Islamic banking is a suite of technologies that help banks offer a wider array for revenue-generating products and services including automated branch management, Internet banking, treasury services, Islamic investments management and documentary credits among others.

“Our cooperation with Capinnova symbolises the continuation of a long-lasting relationship between ITS and BBK,” said Khalid Faraj Al-Saeid, ITS managing director and general manager. “We deployed the solution in record time and will work closely with Capinnova to continuously ensure that the solution suits their specific needs.”

With over 220 customers, ITS is a global leader in Islamic Banking solutions, and a preferred ICT partner to Islamic financial organizations, he said. - TradeArabia News Service