ITS (International Turnkey Systems Group) won yet another regional award for its innovative, cutting-edge banking and finance technology solutions. ITS earned the award for the “Best Islamic Technology Product” in recognition of its ETHIX suite of financial solutions at the high-profile Global Islamic Finance Awards (GIFA) that were held during the Oman Islamic Economic Forum (OIEF), 2011.

“At ITS, such awards provide us with an increased level of confidence and dedication to continue pursuing excellence in the banking and finance technology sector,” said Mr. Khaled Al Saeid, ITS Managing Director and General Manager, on receiving the award. “This is testament to our Islamic Banking customers with whom we work quite closely to develop state-of-the-art technology solutions that we indeed provide a competitive edge in a highly volatile and dynamic market.”

The ETHIX suite of financial solutions targets the Islamic banking sector with award-winning technology, a proven track record, and high levels of ROI. ETHIX has assisted many banks and financial institutions in minimizing their operational costs in response to increased consumer demand for Sharia compliant products. The Solution offers a range of pre-defined business models, including Islamic finance and investment and trading and delivery channels. Built on a unique set of Islamic Banking frameworks (Islamic Instrument engine, Islamic product definition engine, Islamic Workflow engine, and Islamic Account Generation engine) makes ETHIX financial Solutions the product of choice for Islamic financial institutions and for Islamic windows coexisting in a conventional banking environment.

Also, Al Saeid Added “We cannot forget that our achievements are backed by committed employees who have helped the company compete and more importantly, have helped ITS distinguish itself through developing high-impact solutions, products, and services,” he continued.

The GIFA recognizes the pioneering initiatives and outstanding contributions of both individuals and institutions to the Islamic financial services industry.