KARACHI: Pakistan Kuwait Investment Company (Pvt) Limited (PKIC) has signed an agreement with Systems Limited to implement Temenos Core Banking platform. This strategic collaboration will enhance PKIC’s capabilities across its product portfolio.

Under this agreement, Systems Limited will implement Temenos Core Banking platform for PKIC along with comprehensive Investment, structured financial and treasury products. PKIC will also commence Shariah compliant business operations on the core banking as per the State Bank of Pakistan (SBP) directives. Systems will also integrate FCM, ERP and other regulatory channels. Systems Limited’s Islamic Pakistan Model bank offering will enable PKIC to comply with local market regulations and practices.

This transformation will support PKIC’s ongoing mission to support priority sectors of the economy including technology, infrastructure, power, housing, and tourism with innovative and traditional financing solutions.

Addressing the signing ceremony Saad Ur Rahman Khan, Managing Director, PKIC that this partnership is a key driver for PKIC’s vision of supporting priority sectors of the economy, including infrastructure, power, technology, housing, and tourism.

“By integrating the modern platform of Temenos, we are reinforcing our commitment to delivering innovative financial services that meet the evolving needs of our clients and stakeholders”, he added.

Ammara Masood, Global Industries GM BFS, Systems Limited said that as a leader in digital transformation, Systems Limited is proud to support PKIC in this modernization journey and our extensive experience and expertise in implementing mission critical systems in Islamic banks and financial institutions across diverse regions and client bases uniquely position us to drive this transformation.

Copyright Business Recorder, 2024