Path Solutions and Liquidity Management House For Investment Co. announced the implementation of iMAL Islamic Banking Solution at Liquidity House, a Kuwait-based investment company and wholly owned subsidiary of Kuwait Finance House K.S.C.
Leveraging iMAL, Liquidity House is now empowered to operate an automated workflow for project financing including syndication and issuance and trading of Sukuk, asset management activities from its principal Sukuk investment and financing activities. iMAL has also enabled LMH to achieve optimum efficiency in workflows, reduce transaction recording operational risks and lower costs.
We are delighted that iMAL has gone live at Liquidity House, said Alain Abou Khalil, VP Professional Services, Path Solutions. We are committed to supporting Liquidity House achieve its objective of becoming a significant player in the international Sukuk market and Sharia-compliant structured finance arena.
According to Abou Khalil, the deployment of the contracted modules has been achieved in four months time where Path Solutions project team has accomplished the implementation of the following areas: Capital Market & Securitization, Corporate and Project Finance, Syndication & Distribution, Asset Management, Direct Investment, Sukuk Origination, Sukuk Trading and Liquidity Management.
Liquidity House commenced its operations in September 2008. The company was launched with a paid up capital of Kuwaiti Dinars 100 Million (approx US$ 380 million).
Liquidity House vision is to enable Islamic financial institutions to manage their liquidity mismatch through short and medium term liquid investments structured in accordance with the best market trends through focused and shared values driven by its parent entity KFH. Liquidity House has been awarded The Best Sukuk Structuring House in Kuwait for the IREF ME 2009 Awards.
It has also received the Most Innovative Islamic Sukuk Deal Award for the IFC US$ 100 Million Sukuk deal from emeafinance at an awards dinner held in London on 9 June 2010.
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