i-flex Deploys FLEXCUBE For Islamic Banking

i-flex solutions, a provider of Information Technology (IT) solutions to the global financial services industry, has announced the successful deployment of FLEXCUBE for Islamic Banking across the Middle East.

i-flex solutions also announced the appointment of Jamil bin Hassan, an Islamic Banking technology expert and thought leader, as principal consultant for the Islamic Banking practice at i-flex solutions.

“We are delighted to have Jamil bin Hassan on board. Jamil brings to the table a wealth of knowledge in the area of Islamic Banking, Conventional Banking and Information Technology. He will focus on providing the thought leadership and direction for i-flex"s Islamic Banking solution enhancement and also consult with i-flex"s Islamic Banking customers on core banking technology transformation,” said Joseph John, executive vice president, Universal Banking Products at i-flex solutions.

Hassan commented, “I"m very excited to drive i-flex solutions" FLEXCUBE for Islamic Banking which has invested 100 man years in developing a customised product for Islamic Banking. i-flex solutions has been constantly enhancing the solution capabilities for Islamic Banking, and with customers already successfully running live operations, FLEXCUBE now delivers the best in class platform for Islamic Banking."

FLEXCUBE for Islamic Banking offers functionality to support the requirements for Islamic Banking. The product coverage comprises Islamic banking practices such as Murabaha, Mudarabah, Ijarah, Istisna, Tawarruq, Salam, Qardhul Hassan, Musharaka and Sukuk investments.