ITS Recognized for Innovative, Cutting-Edge Islamic Banking Solutions at OIEF

Top Quote ITS Recognized for Innovative, Cutting-Edge Islamic Banking Solutions at OIEF. End Quote
  • (1888PressRelease) February 12, 2012 - Dubai - ITS (International Turnkey Systems Group) won yet another regional award for its innovative, cutting-edge banking and finance technology solutions. ITS earned the award for the "Best Islamic Technology Product" in recognition of its ETHIX suite of financial solutions at the high-profile Global Islamic Finance Awards (GIFA) that were held during the Oman Islamic Economic Forum (OIEF), 2011.

    "At ITS, such awards provide us with an increased level of confidence and dedication to continue pursuing excellence in the banking and finance technology sector," said Mr. Khaled Al Saeid, ITS Managing Director and General Manager, on receiving the award. "This is testament to our Islamic Banking customers with whom we work quite closely to develop state-of-the-art technology solutions that we indeed provide a competitive edge in a highly volatile and dynamic market."

    The ETHIX suite of financial solutions targets the Islamic banking sector with award-winning technology, a proven track record, and high levels of ROI. ETHIX has assisted many banks and financial institutions in minimizing their operational costs in response to increased consumer demand for Sharia compliant products. The Solution offers a range of pre-defined business models, including Islamic finance and investment and trading and delivery channels. Built on a unique set of Islamic Banking frameworks (Islamic Instrument engine, Islamic product definition engine, Islamic Workflow engine, and Islamic Account Generation engine) makes ETHIX financial Solutions the product of choice for Islamic financial institutions and for Islamic windows coexisting in a conventional banking environment.

    Also, Al Saeid Added "We cannot forget that our achievements are backed by committed employees who have helped the company compete and more importantly, have helped ITS distinguish itself through developing high-impact solutions, products, and services," he continued.

    The GIFA recognizes the pioneering initiatives and outstanding contributions of both individuals and institutions to the Islamic financial services industry.

    About ITS Group:
    Founded in 1981, the ITS Group is a leading solution provider for both Islamic and conventional banks. ITS has been ranked as one of the top three companies worldwide that are considered T1 Islamic Solutions providers. The ITS ETHIX financial solutions are a certified Islamic Finance Module and comply with AAOIFI standards. ITS is also the only company globally to convert banks from conventional to Islamic systems, as noted in the "Gartner Report," July 2010. For more information, please visit

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