Syed Ata Hussain, Head of Information System, BankIslami said, "Armed with a solid implementation methodology and supported by a team of skilled and passionate consultants, Path Solutions was able to fulfill its commitment, and we were able to run the first successful PCS in Java version 14 in Pakistan.
"We consider this implementation as a major milestone, as the course of the project involved exhaustive upgrade, internal testing phases, multiple user acceptance testing (UAT) cycles and three full scale application testing exercises to ensure uninterrupted business operations following the upgrade. Once again, Path Solutions was up to the challenge and we upgraded successfully owing to the tireless efforts of all teams involved.”
The PCS upgrade is pivotal for BankIslami, which merged last year with KASB Bank and migrated more than 100 KASB branches to the iMAL Islamic Banking & Investment System. BankIslami needed several modifications to the software to broaden its operations spectrum in compliance with Central Bank regulations.
The latest iMAL*ProfitCalculationSystem module is a Web-based application and can be implemented either on the Oracle or Sybase relational database management system. It supports all major browsers and may be deployed on any JEE Web/Application Server Apache Tomcat, Oracle WebLogic and similar platforms. The module's features include built-in control procedures and compliance with Islamic shari'ah, limits monitoring and exposure control, as well as credit risk measurement and evaluation.
According to Path Solutions, over 100 Islamic financial institutions are using its iMAL system.