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Askari Bank goes live with AutoSoft’s Islamic treasury management system

Avatar Written by Maheen Kanwal · 58 sec read>

Askari Bank has successfully incorporated AutoSoft Dynamics’ Islamic treasury management system – ADAMS Islamic and RTGS STP utility (Real-time Gross Settlement System Straight Through Processing) AutoRTGS in bank’s Oracle core banking system.

AutoSoft Dynamics provides banking and financial solutions, both conventional and Islamic. Its majority of customers are in Pakistan such as FINCA Microfinance Bank, Sindh Bank, Bank of Punjab, Al Baraka Bank, First Women Bank, National Bank, Alfalah, etc.

Askari Bank has already been using conventional treasury management system since 2002 and also AutoSoft’s flagship core banking offering, AutoBANKER. Nasir Zaidi, Head of Treasury Operations, said,

“As a financial institution, we are committed to continuously making essential investments in order to fulfill our existing and potential customers’ banking needs. AutoSoft’s implementation of Adams Islamic and AutoRTGS at Askari Bank has given us the tool and technology to do just that for our customers while, at the same time, conforming to the regulations of State Bank of Pakistan.”

AutoSoft’s ADAMS Islamic (Automatic Deal, Money Market and Securities Trading System) fully complies with Shariah system. The system provides users with real-time exposure monitoring, securities and shares management, cash flows in different currencies, monitoring of different types of limits and risk analysis.

AutoRTGS helps to process funds easily by sending and receiving information and messages about financial transactions in a standardized, secure and in a reliable environment.

Launched in 1991, Askari Bank works on improving service quality by investing in technology and people. Askari bank launched cardless cash withdrawal in December 2016 for the convenience of users. Pak-Oman Company is also set to acquire a subsidiary of Askari bank, Askari Investment Management, for Rs 551 million.

Written by Maheen Kanwal
Maheen Kanwal is a Tech Journalist at TechJuice. She covers the latest technological, telecom and business related, local & global news. (Reach at Profile