Azentio Software, a technology enabler in the financial space, has received full certification for 2025 from the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) for its flagship Islamic core banking platform iMAL.
This marks the 16th consecutive year that iMAL has achieved AAOIFI certification.
"We are pleased to conclude the review of the latest version of iMAL for the year 2025," said Omar Mustafa Ansari, Secretary General of AAOIFI.
"IMAL's proactive approach to compliance with AAOIFI's Shariah and Financial Accounting Standards, including (the) upcoming FAS 44, 45, 46, and 47, demonstrates its commitment to providing the best shari'ah-compliant solution for customers, thereby enhancing the credibility and trust in the Islamic finance industry. Our partnership with Azentio is a vital pillar in advancing the global Islamic finance industry."
Built specifically for Islamic financial institutions, iMAL is trusted by leading banks across the Middle East, Africa, and Asia to support shari'ah-compliant operations from end to end, including customer onboarding, product structuring, accounting, and reporting.
Azentio's in-house Shari'ah Compliance Team continuously tracks updates to AAOIFI standards and exposure drafts, ensuring iMAL evolves in lockstep with regulatory shifts and emerging market needs. The latest release of iMAL also includes the new Musaqat product, which is tailored for the Islamic finance sector to meet the needs of the irrigation industry.
Khaled Berjawi, Senior VP Product Management for iMAL at Azentio said: "In a market where trust and compliance are everything, iMAL stands alone. Our continued AAOIFI certification, uninterrupted for 16 years, is more than a regulatory milestone. It reflects our deep commitment to empowering Islamic financial institutions with cutting-edge technology that is rigorously, verifiably shari'ah-compliant.
"No other platform can make that claim. We are proud to be at the forefront of Islamic fintech, helping our clients deliver modern, compliant services that scale with demand."