Siraj Finance Partners with Azentio to Enhance Digital Banking Capabilities with Core

The collaboration between Siraj Finance and Azentio is expected to play a pivotal role in enhancing the company’s digital banking infrastructure.

Siraj Finance PJSC, one of the leading Islamic finance companies in the UAE, has entered into a strategic partnership with Azentio, a global leader in core banking technology services. The collaboration aims to implement advanced core and digital banking solutions, further enhancing Siraj Finance’s operational capabilities, product offerings, and overall digital transformation. This partnership aligns with Siraj Finance’s objective of providing diverse Islamic financial products through innovative channels, maintaining a strong customer-centric focus, and ensuring full regulatory compliance.

The partnership is a key step in Siraj Finance’s mission to digitize its services and improve its customer journey. The collaboration will leverage Azentio’s iMAL core banking platform, which is designed to meet the unique requirements of Islamic banking, ensuring that all transactions adhere to Islamic financial principles. The integration of these solutions will empower Siraj Finance to enhance operational efficiency, streamline processes, and offer a seamless omnichannel experience to both retail and corporate customers.

Mr Amjad Hijazi, Chief Operating Officer of Siraj Finance, expressed his enthusiasm about the partnership: “We are delighted to be working with Azentio as our technology partner of choice to empower our ongoing business growth. The iMAL platform’s comprehensive functionality, coupled with its adherence to Islamic principles, perfectly aligns with our goals. It will enable our team to enhance productivity, streamline processes, and elevate the customer journey across all channels.”

Strategic Collaboration to Meet Future Needs

The signing ceremony was attended by senior leaders from both organizations. Siraj Finance was represented by Mr. Amjad Hijazi, Chief Operating Officer; Mr. Joseph Daniel, Chief Business Intelligence & Strategy Officer; Mr. Syed Moosa Kaleem Al Falahi, Chief Business & Investment Officer; and Mr. Fazal Nassim, Chief Governance & Compliance Officer. Azentio was represented by Mr. Rahul Arora, Chief Sales Officer; Mr. Harkaran Singh, Senior Vice President, Middle East & Africa; Mr. Zaher El Khatib, Vice President Global Islamic Banking Sales; Mr. Alfred Quertier, Director Global Sales Engineering; and Mr. Bhushan Kelkar, Vice President Sales.

Mr. Rahul Arora, Chief Sales Officer at Azentio, shared his thoughts on the partnership: “We are extremely pleased to partner with Siraj Finance to deliver a user-friendly digital financial services experience to both their retail and corporate customers. This partnership reflects our commitment to empowering financial institutions in the region with cutting-edge technology that addresses both current and future needs, ensuring that Siraj Finance remains at the forefront of Islamic banking innovation.”

Building a Digitally Integrated Islamic Finance Future

The collaboration between Siraj Finance and Azentio is expected to play a pivotal role in enhancing the company’s digital banking infrastructure. The iMAL solution from Azentio will support Siraj Finance in offering a wide range of financial products and services, from retail banking to corporate finance, all while ensuring compliance with Sharia principles. Additionally, the platform’s flexibility and scalability will allow Siraj Finance to adapt to the evolving needs of the market and continue its growth trajectory in the competitive UAE financial landscape.

This partnership marks a significant milestone in Siraj Finance's commitment to becoming a leader in digital Islamic finance, reinforcing its dedication to delivering efficient, innovative, and customer-friendly banking experiences.