Singapore: Azentio Software ('Azentio'), a leading technology enabler in the Banking, Financial Services and Insurance (BFSI) sector, has announced that the latest version of its flagship Islamic core banking platform, iMAL, has once again received full certification for 2025 from the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) - marking its 16th consecutive year of certification.
This achievement makes iMAL the only Islamic core banking software in the world to be fully certified, not merely compliant, reaffirming its unmatched position in the global Islamic finance ecosystem.
'We are pleased to conclude the review of the latest version of iMAL for the year 2025,' said Omar Mustafa Ansari, Secretary General of AAOIFI. 'iMAL's proactive approach to compliance with AAOIFI's Shari'ah and Financial Accounting Standards, including upcoming FAS 44, 45, 46, and 47, demonstrates its commitment to providing the best Shari'ah-compliant solutions for customers. Our partnership with Azentio is a vital pillar in advancing the global Islamic finance industry.'
Built specifically for Islamic financial institutions, iMAL supports fully Shari'ah-compliant operations end-to-end - from customer onboarding and product structuring to accounting and reporting - and is trusted by leading banks across the Middle East, Africa, and Asia.
The latest release introduces a new Musaqat product, developed for the Islamic finance sector to meet the needs of the irrigation industry. The product comes pre-configured with Shari'ah-compliant structures, enabling faster deployment while ensuring full compliance.
Khaled Berjawi, Senior Vice President of Product Management for iMAL at Azentio, stated:
'In a market where trust and compliance are everything, iMAL stands alone. Our 16 consecutive years of AAOIFI certification are not just a regulatory milestone but proof of our unwavering commitment to empowering Islamic financial institutions with cutting-edge, Shari'ah-compliant technology.'
Azentio's in-house Shari'ah Compliance Team continuously monitors AAOIFI updates and exposure drafts to ensure iMAL remains aligned with evolving standards and emerging market needs - offering customers a future-ready, fully certified infrastructure.
About Azentio:
Azentio is a leading provider of purpose-built, intelligence-driven technology solutions for the BFSI and ERP sectors. With a strong presence across the Middle East, Africa, and Southeast Asia, Azentio empowers organizations to accelerate growth, enhance operational efficiency, and achieve sustainable success.