{"id":1367,"date":"2024-10-17T11:15:15","date_gmt":"2024-10-17T11:15:15","guid":{"rendered":"https:\/\/pkfin.kotenterprises.dev\/?p=1367"},"modified":"2025-01-14T15:08:00","modified_gmt":"2025-01-14T15:08:00","slug":"pakistan-kuwait-investment-company-pkic-partners-with-systems-limited-and-temenos","status":"publish","type":"post","link":"https:\/\/pkfin.kotenterprises.dev\/?p=1367","title":{"rendered":"Pakistan Kuwait Investment Company (PKIC) partners with Systems Limited and Temenos for Core Banking Transformation"},"content":{"rendered":"\r\n

Karachi, Pakistan \u2013 17 October 2024<\/strong>: Pakistan Kuwait Investment Company (Pvt) Limited (PKIC)<\/a>, the largest development financial institution in Pakistan, has signed an agreement with Systems Limited<\/a> to implement the cutting-edge Temenos Core Banking platform. This strategic collaboration is set to elevate PKIC\u2019s operational capabilities and enhance its comprehensive product portfolio, marking a significant milestone in the company\u2019s modernization efforts.<\/p>\r\n\r\n\r\n\r\n

Established in 1979 as a joint venture between the Governments of Pakistan and Kuwait, PKIC has been a pivotal player in promoting industrial activity in Pakistan through equity and debt investments. With a focus on driving the development of priority sectors such as technology, infrastructure, power, housing, and tourism, PKIC continues to play a crucial role in the country\u2019s financial landscape.<\/p>\r\n\r\n\r\n\r\n

Under the terms of the agreement, Systems Limited will deploy the Temenos Core Banking platform to strengthen PKIC\u2019s financial and investment operations. The implementation will cover a wide range of offerings, including structured financial products, treasury services, and shariah-compliant business operations in accordance with the directives of the State Bank of Pakistan (SBP). Systems Limited will also integrate key modules such as FCM, ERP, and other regulatory channels, ensuring seamless operations for PKIC.<\/p>\r\n\r\n\r\n\r\n

One of the key components of this transformation will be Systems Limited\u2019s Islamic Pakistan Model Bank, enabling PKIC to meet local market regulations and practices. This modernization will further support PKIC\u2019s mission to drive growth in vital sectors through both traditional and innovative financing solutions.<\/p>\r\n\r\n\r\n\r\n

Commenting on the collaboration, Saad Ur Rahman Khan, Managing Director of PKIC<\/strong>, stated: \u201cWe are thrilled to partner with Systems Limited on this transformative journey. By integrating the Temenos platform, we are reinforcing our commitment to delivering cutting-edge financial services that cater to the evolving needs of our clients and stakeholders. This partnership is central to PKIC\u2019s mission of supporting priority sectors such as infrastructure, power, technology, housing, and tourism.\u201d<\/em><\/p>\r\n\r\n\r\n\r\n

The transformation will not only enable PKIC to provide financial products more efficiently, but it will also enhance customer experience and operational agility. By leveraging advanced analytics and data management tools, PKIC will be better equipped to make data-driven decisions, optimize financial services, and strengthen its market position. Additionally, the adoption of Islamic banking practices will allow PKIC to meet the growing demand for shariah-compliant financial products, further underscoring its commitment to inclusive growth and financial stability.<\/p>\r\n\r\n\r\n\r\n

Ammara Masood, Global Industries GM BFS at Systems Limited<\/strong>, added: \u201cAs a leader in digital transformation, Systems Limited is proud to be at the forefront of PKIC\u2019s modernization. Our expertise in implementing mission-critical systems across Islamic banks and financial institutions uniquely positions us to drive this transformation. We look forward to helping PKIC meet the evolving needs of small and medium enterprises and contribute to the long-term development of Pakistan\u2019s key sectors.\u201d<\/em><\/p>\r\n\r\n\r\n\r\n

This strategic partnership between PKIC and Systems Limited is set to drive innovation, enhance operational efficiency, and further PKIC\u2019s vision of supporting Pakistan\u2019s economic growth and modernization.<\/p>\r\n","protected":false},"excerpt":{"rendered":"

Karachi, Pakistan – 17 October 2024: Pakistan Kuwait Investment Company (Pvt) Limited (PKIC), the largest development financial institution in Pakistan, has signed an agreement with Systems Limited to implement the cutting-edge Temenos Core Banking platform. This strategic collaboration is set to elevate PKIC’s operational capabilities and enhance its comprehensive product portfolio, marking a significant milestone […]<\/p>\n","protected":false},"author":1,"featured_media":1368,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[2],"tags":[402,14,837,489,282],"class_list":["post","format-standard"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t