Sharia-compliant investment arm implements new technology.
Cappinova Investment Bank has completed its implementation of the ETHIX Core solution for Islamic banking from International Turnkey Systems (ITS) Group.
The system provides technologies for automated branch management, internet banking, treasury services and Islamic investment management. Cappinova is the Sharia-compliant investment arm of the Bahrain Bank of Kuwait (BBK).
"Despite tough market conditions, the Islamic banking and investment sector continues to show promise and positive growth on a global scale," says Naveed Anjum, director and head of operations and support at Capinnova. "To drive our leadership position in the industry, we decided to deploy the ETHIX Core to enhance our services in the three main business units: Asset Management, Private Equity and Corporate Finance."