NEWS
Kuwait based ITS wins global
Islamic Finance award
I
nternational Turnkey Systems Group (ITS), a market leading provider
of comprehensive Shariah-compliant financial solutions, has been
named as the ‘Best Islamic Finance Technology Provider 2019’ at the
Global Islamic Finance Awards ceremony held in South Africa.
Essam Alkheshnam, International Turnkey Systems (ITS) CEO, said:
“We are delighted to win this award again this year. The ‘Best
Islamic Finance Technology Provider 2019’ accolade is an honour
which highlights our continued dedication to delivering world class
financial technology solutions that empower banks and financial
organisations to remain abreast of innovation and thrive in today’s
transforming economy.
“The selection of ITS as the ‘Best Islamic Finance Technology
Provider 2019’ by the GIFA Awards Committee further highlights
ITS as the market leading provider of innovative Shari’ah
compliant IT solutions and emphasises our impressive track record
of delivering proven technology solutions to the global Islamic
financial services industry.” branch automation, digital banking, dashboards and reports, in
addition to other pioneering products and services.
The ETHIX range is ITS’s flagship solution which provides multi-
channeled corporate and retail products and services in Islamic
finance and investment, including core banking, trade finance, The solution is built on robust technologies designed to support
financial institutions as they strive to reach operational excellence,
accommodate growth and achieve cost leadership in financial services.
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UAE working on cybersecurity
policy for cloud-based future
T
he UAE’s Telecommunications Regulatory Authority
(TRA) is working on cybersecurity policy for a cloud-based
future, according to Eng Abdulrahman Almarzouqi, Director of
Cybersecurity, TRA.
said Sam Olyaei, Research Director at Gartner. “More importantly,
an evolving threat landscape and the advent of Digital
Transformation is forcing local security and risk leaders to re-
evaluate their spending priorities.” n
“Everything will be moving to the cloud, and so the security of the
cloud is very important,” said Almarzouqi, speaking at the Gartner
Security & Risk Management Summit in Dubai. Almarzouqi said that
the TRA is working on a comprehensive policy for cloud security,
including for public and private use. Organisations are likely to
implement their cloud strategies gradually, and Almarzouqi said
private companies could classify their data and begin migrating to
the cloud by moving their least critical data first. As they gain in cloud
confidence, they could then move more of their data to the cloud.
Middle East and North Africa (MENA) enterprise information security
and risk management spending will total US$1.7 billion in 2020,
an increase of 10.7% from 2019, according to a recent forecast by
Gartner, Inc.
“The double-digit growth is a reflection of how organisations in
MENA region are coming up to speed with their global counterparts
in adopting information security and risk management solutions,”
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Eng Abdulrahman Almarzouqi, Director of Cybersecurity, TRA
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