Islamic Window of Société Générale Maroc First Live Site For ETHIX-Core In Morocco
Kuwait 11 December 2017: International Turnkey Systems (ITS), the market leading provider for comprehensive Islamic financial solutions, has announced the successful go live of a new core banking platform, ETHIX-Core for Dar Al-Amane, the Islamic arm of Société Générale Maroc. This marks ITS’ first live site for ETHIX-Core in Morocco.
The implementation by Dar Al Amane of ITS’s ETHIX Islamic Finance suite is aligned with the Bank’s national expansion strategy which will witness a network of agencies opened throughout the country, operating in full compliance with Shari’ah principles.
Commenting on the announcement, Mr. Esam Alkheshnam, Chief Executive Officer of ITS said: “It was an honour to be selected by Dar Al-Amane and to support their plans to deliver Islamic banking services to the Moroccan market. The delivery and implementation of our product range ETHIX was a great success, with more than 500 accounts opened within the first month of going live”.
As one of the most secure Banking Systems in the world, Dar Al-Amane’s new ETHIX Islamic banking system will help reduce operating costs while marketing innovative products and enhancing services. The extensive range of ETHIX features will support the Bank as it expands its banking capabilities.
Mrs. Hounaida Boukhari, Director of Dar Al-Amane said: “We, at Dar Al-Amane are constantly innovating to better serve our customers. By implementing ETHIX Islamic finance Solution suite, we will provide our customers with products and services that are powered by the latest technology. This will ensure that we deliver an exceptional customer experience. Our strategy at Dar Al-Amane is to set up a network of agencies, operating in full compliance with Shari’ah principles, and ITS is supporting us achieve that goal. The completion of this project relies on the expertise and dedication of the ITS team. We hopefully look forward to expanding our partnership with ITS.”
ITS recently won the “Best Islamic Finance Technology Product 2017” for its innovative ‘ETHIX’ product range at the prestigious Global Islamic Finance Awards ceremony held in Astana, Republic of Kazakhstan.
About ITS
Established in 1981, ITS is a leading integrated information technology, IT services, software solutions provider. In the early 90’s, the company became the market leader in the development and implementation of Islamic Financial Solutions to leading Islamic Financial Institutes. ITS is still maintaining its leadership position in the market through its diversified offering in Software and Services provided to Financial Institutions across the Middle East and Africa regions. Adding to this, ITS is considered one of the few companies in the region that offers a comprehensive suite of Managed Services. Such services help ITS clients to have cost effective IT operations and help them focus on their own core business. ITS had also won major projects in the Enterprise Business in the areas of ERP Implementation and Business Process Automation and Management.
About Dar Al-Amane: Dar Al-Amane, the Islamic window of Société Générale Maroc, is a component of the French bank which ensures both the management of funds and the financing and investment operations that are in accordance with the Shari’a, with agencies being entirely dedicated to it. To date, five agencies are open in Casablanca, Marrakesh, Agadir and Tangier, with the ambition to cover all major Moroccan cities. These will be distributed over the 9 regional divisions of the Moroccan subsidiary of the French giant, Société Générale.