IIUM AND PATH SOLUTIONS INK COLLABORATIVE PACT

By Abdul Muin Majid

DUBAI, Nov 10 (Bernama) -- Kuwait-based Path Solutions, a provider of
Islamic banking software solutions, and the International Islamic University
Malaysia (IIUM) have inked a memorandum of understanding (MoU) to enable Islamic
banking technology simulation for educational and training purposes.

Under the agreement, IIUM's Institute of Islamic Banking and Finance (IIBF)
will provide Path Solutions' community of users with specialised training in
Islamic finance and other Syariah advisory services to pave the way for common
approaches to capture growth and increase competitiveness.

"This strategic collaboration with Path Solutions will significantly benefit
IIBF with an Islamic banking system that will allow scholars to work on real
simulations and practise the knowledge acquired from courses in Islamic banking
and finance," IIBF dean, Prof Mohamad Azmi Omar, said in a statement.

He expressed confidence that the two entities could make an important step
forward in achieving the common goals in taking Islamic banking to a new
standard of excellence.

Path Solutions chairman and chief executive Mohammed Kateeb said the
partnership reaffirmed its commitment to developing and promoting Islamic
finance in Southeast Asia, particularly in Malaysia, by combining their efforts
to share knowledge, innovations and best practices for the benefit of the
Islamic banking community.

Founded in 1992, Path Solutions is a dedicated software house specialised in
the provision of Syariah-compliant integrated software solutions and services to
the Islamic financial marketplace.

The firm has a research and development centre in Lebanon and support
offices in the United Kingdom, Bahrain, Saudi Arabia, the United Arab Emirates,
Pakistan, Egypt, Sudan, Kenya, Malaysia, Indonesia and Singapore.

-- BERNAMA