i-flex instals Flexcube to Sakana Holistic Housing solutions

Bangalore, July 3 (UNI) i-flex Solutions, a leading provider of technology solutions to the global banking and financial services industry, announced today that Sakana Holistic Housing Solutions BSC, an Islamic financial institution based in Bahrain, has completed implementation of Islamic Banking, for its mortgage financing operations.

Sakana is the fifth financial institution in the Middle East to use the universal IT banking solution for Islamic financing.

Flexcube for Islamic Banking provided a back-office processing environment for Islamic financial products. It supported all transaction and investment processes including calculations and payments, deployment and tracking of funds and asset valuations, a release said here.

Ultimately, the customer benefits as it helps financial institutions to cut processing costs, respond faster to market needs, improve service levels and considerably reduce risk, the release added.

UNI