AlHuda Center of Islamic Banking and Economics (CIBE) has signed a strategic partnership agreement with Autosoft Dynamics, a leading provider of banking software solutions, to introduce an advanced Shariah-compliant core banking system. This collaboration aims to support the growing Islamic finance sector by offering a comprehensive suite of end-to-end Islamic banking solutions for banking, non-banking, microfinance, and lending institutions.
With the increasing demand for Shariah-compliant financial solutions, this partnership seeks to address the market gap by equipping financial institutions with innovative and compliant banking technologies. The new system will facilitate both new Islamic banking setups and conventional-to-Islamic banking conversions, ensuring seamless adherence to Islamic financial principles.
Muhammad Zubair, CEO of AlHuda CIBE, expressed his enthusiasm about the partnership, highlighting its potential to revolutionize the Islamic banking industry by providing specialized solutions tailored to specific market needs and regulatory requirements. He emphasized that the collaboration would enhance efficiency, transparency, and compliance, enabling financial institutions to better serve their customers while adhering to Islamic finance standards.
Autosoft Dynamics, a Pakistan-based financial technology leader and a subsidiary of Constellation Software Inc. (CSI), Canada’s largest software company, brings its expertise in microservices architecture, API-driven open banking, and hybrid cloud deployments to this initiative. With over 3,300 successful banking site installations across the Middle East, Asia, and Africa, Autosoft is recognized for its highly configurable and scalable banking solutions, designed to enhance operational efficiency and customer experience.
Shahzad Rafique, COO of Autosoft Dynamics, underscored the importance of this partnership in advancing Islamic banking technology. He reaffirmed the company’s commitment to delivering world-class banking solutions that empower financial institutions with cutting-edge technology while ensuring full compliance with Islamic finance principles.
AlHuda CIBE and Autosoft Dynamics have maintained a strong working relationship for over two decades, consistently promoting innovation in Islamic finance technology. This latest agreement further cements their commitment to shaping the future of Shariah-compliant banking, driving sustainable growth in the global Islamic finance sector.
