Azentio Software (“Azentio”), a leading technology enabler in the BFSI (Banking, Financial Services and Insurance) space, today announced that the latest version of its flagship Islamic core banking platform, iMAL, has once again received full certification for 2025 from the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), the globally recognized standard-setting body for Islamic finance.
This marks the 16th consecutive year that iMAL has achieved AAOIFI certification, making it the only Islamic banking software in the world to be fully certified, not merely compliant – a distinction that underscores its unmatched position in the global Islamic finance ecosystem.
“We are pleased to conclude the review of the latest version of iMAL for the year 2025,” said Omar Mustafa Ansari, Secretary General of AAOIFI. The iMAL’s proactive approach to compliance with AAOIFI’s Shari’ah and Financial Accounting Standards, including upcoming FAS 44, 45, 46, and 47, demonstrates its commitment to providing the best Shari’ah-compliant solution for customers, thereby enhancing the credibility and trust in the Islamic finance industry. Our partnership with Azentio is a vital pillar in advancing the global Islamic finance industry.”
Built specifically for Islamic financial institutions, iMAL is trusted by leading banks across the Middle East, Africa and Asia to support Shari’ah-compliant operations from end to end, including customer onboarding, product structuring, accounting and reporting.
The latest release of iMAL also includes the new Musaqat product, which has received full Shari’ah certification. Tailored for the Islamic finance sector to meet the needs of the irrigation industry, the product comes pre-configured with Shari’ah-compliant structures, reducing the need for extensive customization and enabling banks to launch rapidly while ensuring full compliance.
This release is fully aligned with the latest AAOIFI Shari’ah and Financial Accounting Standards, ensuring institutions can confidently launch innovative products without compromising on compliance.
Khaled Berjawi, Senior Vice President Product Management for iMAL at Azentio, commented: “In a market where trust and compliance are everything, iMAL stands alone. Our continued AAOIFI certification, uninterrupted for 16 years, is more than a regulatory milestone. It reflects our deep commitment to empowering Islamic financial institutions with cutting-edge technology that is rigorously, verifiably Shari’ah-compliant. No other platform can make that claim. We are proud to be at the forefront of Islamic fintech, helping our clients deliver modern, compliant services that scale with demand.”
Azentio’s in-house Shariah Compliance Team continuously tracks updates to AAOIFI standards and exposure drafts, ensuring iMAL evolves in lockstep with regulatory shifts and emerging market needs. For customers, this means future-ready infrastructure backed by a proven, certified track record.
About Azentio
Azentio is a leading provider of purpose-built, intelligence-driven technology solutions designed to transform the banking, financial services, insurance (BFSI), and enterprise resource planning (ERP) sectors. By combining cutting-edge innovation with deep domain expertise, Azentio empowers businesses to accelerate growth, enhance operational efficiency, and stay ahead in a rapidly evolving market. With a strong presence across the Middle East, Africa, and Southeast Asia, Azentio delivers world-class technology that streamlines processes and delivers tangible results, enabling organizations to achieve sustainable success.
