Faisal Islamic Bank of Egypt IT general supervisor Ismail Al Malwany said the deployment comes as a part of their expansion plan in Egypt, which is a fertile ground for Islamic banking services.
"Being the largest and first Islamic bank in Egypt, we are taking a pioneering step and investing in cutting edge technology to provide high quality products and services to meet the growing demand in Egypt. We are expanding our footprint across Egypt and we believe that the ETHIX technology platform is key to enabling and developing our services offering," Malwany added.
"There is no doubt that the cooperation with ITS will strengthen the bank’s performance and improve our Islamic banking services that will offer more advanced Islamic solutions that strictly comply with Shari’a Law."
According to the banking solution provider ITS, it has vied with 11 global and regional firms to win the project, under which it will install customizable ETHIX-Financial Solutions to the Islamic bank.
