PKIC Partners With Systems Limited And Temenos For Core Banking Revolution

Founded in 1979 as a joint venture between the governments of Pakistan and Kuwait, PKIC has been a major player in Pakistan’s industrial and financial landscape. Through this new partnership, the company aims to strengthen its capabilities across its wide range of products.

The Scope of the Partnership

Under this agreement, Systems Limited will implement the Temenos Core Banking platform along with investment, structured finance, and treasury products. Furthermore, PKIC will launch Sharia-compliant operations in alignment with the State Bank of Pakistan’s (SBP) guidelines. Systems Limited will also integrate regulatory channels like FCM and ERP to ensure smoother operations.

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Supporting Key Sectors of the Economy

This transformation aligns with PKIC’s mission to support priority sectors such as technology, infrastructure, power, housing, and tourism. By offering both traditional and innovative financial solutions, PKIC aims to contribute to economic development.

Boosting Operational Efficiency

The new system will enhance PKIC’s ability to deliver faster, innovative financial products, improve operational efficiency, and offer a better customer experience. The integration of advanced analytics will further empower PKIC to make data-driven decisions.

Islamic Banking and Financial Stability

With the adoption of Islamic banking, PKIC will cater to the growing demand for Sharia-compliant products. This move reinforces the company’s dedication to inclusive growth and financial stability.

Saad-ur-Rahman Khan, Managing Director of PKIC, shared his excitement: “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.”

Ammara Masood, Global Industries GM BFS at Systems Limited, added, “As a leader in digital transformation, Systems Limited is proud to support PKIC in this modernization journey. Our extensive experience in implementing mission-critical systems in Islamic banks and financial institutions uniquely positions us to drive this transformation.”

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