Morocco’s Attijariwafa Bank chooses Path Solutions’ core system
Bank Assafa (a subsidiary of Attijariwafa Bank) in Morocco has selected Path Solutions’ iMAL core system across its 31 branches for Islamic banking.
The platform will include Shari’ah-compliant financing, delivery channels and trade finance.
Attijariwafa Bank Group has a presence in 25 countries and over eight million customers. It decided to use iMAL to run the operations of its new participative subsidiary Bank Assafa.
Youssef Baghdadi, chairman of the management board of Bank Assafa, says: “We turned to Path Solutions following good references from several leading Islamic banks and because we simply wanted the best.”
In January 2017, Morocco’s central bank gave its approval to set up five fully-fledged participative banks in the country, one of which is Bank Assafa.
This is the third client for Path in Morocco, following last year’s deal with Al Baraka Bank in a multi-country roll-out; and Crédit du Maroc (CDM), a Morocco-based subsidiary of the Crédit Agricole group.
The Attijariwafa banking group is a major user of the Sopra Banking Amplitude system from Sopra Banking Software across many of its locations in Africa and Europe.
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