Islamic Banking: transforming digital banking in the Middle East

Islamic Banking follows the directives of Sharia Law that govern commercial transactions, from lending and borrowing to investing. The transactional core banking solutions primarily manage these principles. However, as a provider of an omnichannel digital banking platform, ebankIT developed a suitable solution to meet all the Islamic Banking client’s requirements and expectations.

ebankIT can transform your digital banking services within 9 months  

ebankIT showcased its flexibility and adaptability by applying all the Islamic Banking requirements to its new omnichannel banking platform, meeting the most recent security standards and designed for corporate and retail banking, including open banking. 

A best-in-class user experience for all left-to-right or right-to-left readers.

ebankIT omnichannel platform allows the installation of multiple interface languages on a single solution. For the Islamic market, ebankIT went further and created a flexible system, enabling it to smoothly switch from English to the Arabic alphabet, moving from left-to-right to right-to-left script, and even reconfiguring the look and feel for an immersive user experience.

In a short period of 9 months, ebankIT managed to offer a complete array of new features, developed from the very beginning to comply with all the Shariah rules:

• Cross-channel interaction from end-to-end
• Fully optimized to include Islamic letters of credit
• Presents the profit of every account and enables Zakat donations
• switch between the Gregorian and Islamic calendar modes
• Offers transparent audits and inspection results
• Collect and process data in a customizable fashion

Kuwait International Bank (KIB), the "Best Islamic Bank in Kuwait," selected ebankIT's services for its rapid time-to-market and seamless adherence to Islamic banking regulations and offerings.

Adaptable interface with a third-party integration solution

ebankIT proved to be easily adaptable to integrations with third-party solutions and to Islamic banks’ customized features thanks to its wide platform marketplace. ebankIT has a quick-to-go-market approach with a robust solution that enables banks and credit unions to achieve their full potential.