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CASE STUDY
Cihan Bank goes live with Path Solutions’ iMAL R14.0
Erbil, Iraq, where Cihan Bank is headquartered
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ihan Bank is an Islamic bank headquartered in Erbil, Iraq. Established in 2008, the bank has 13 branches in all the major cities of Iraq from North to South. The bank is a
member of Cihan Group, one of the largest business groups in Iraq with operations across many sectors including construction, automotive, education, media, insurance and general trading. Cihan Bank provides a range of Islamic banking products and services compliant with the principles of Islamic Sharia.
The vendor, Path Solutions, is a Kuwait-based company that provides banking technology solutions and services across multiple areas including core banking, investment banking, fund management, treasury and trading in GCC and global capital markets. iMAL is the supplier’s flagship core banking platform catering to Islamic banks, Islamic financial institutions and Islamic microfinance companies.
Cihan Bank has been an existing user of iMAL 09 (Release 2.4.0.x). However, the bank wanted to upgrade to the latest version of
iMAL R14 (Release 14.0) to leverage the enhanced functionalities of the new release including a digital banking layer, Java operating system and a multi-tier, customisable banking services platform. Furthermore, the upgrade would involve a complete update of its infrastructure including Oracle database upgrade from 11G to the latest 12C version, hardware and operating system which offers a comprehensive end-to-end solution including security.
According to Rana Riyadh, Cihan Bank’s IT manager: “The project was initiated in May 2017. From Path Solutions, a total of four resources were involved including one project manager and one ICT consultant at the offsite location, and two onsite technical consultants. From Cihan Bank there was the IT department, along with super users from the business side.
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