BankIslami Pakistan has completed a strategic upgrade to Azentio’s iMAL R14 core banking system, a move aimed at bolstering automation, regulatory compliance, and digital banking capabilities. The transition is expected to enhance transaction speed and security while reinforcing the bank’s standing as a leading Shariah-compliant financial institution in Pakistan.
The upgrade aligns with BankIslami’s broader strategy to integrate cutting-edge technology that adheres to Islamic financial principles while improving operational efficiency.
“The successful deployment of iMAL R14 marks a milestone in our digital transformation,” said Rizwan Ata, President and CEO of BankIslami. “This enhancement strengthens our operational framework and underscores our commitment to delivering innovative, Riba-free financial solutions.”
“This upgrade represents a significant leap forward in advancing digital banking capabilities and operational excellence.” said Sanjay Singh, CEO of Azentio. By providing a robust platform for compliance and innovation, iMAL R14 will enable BankIslami to continue its leadership in banking and offer enhanced services to its customers in Pakistan and beyond.”
With this upgrade, BankIslami is poised to expand its product offerings, enhance efficiency, and ensure alignment with evolving regulatory standards—solidifying its position at the forefront of Islamic banking.
Editorial & Legal Practice Group
Authored and reviewed by the corporate law and tax litigation practice group at Javid Law Associates. Our team comprises High Court advocates, corporate legal advisors, and authorized tax practitioners across Pakistan.
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