Standard Bank signs deal with ERA-InfoTech for ‘Islamic Core Banking Solution’

Standard Bank Limited signed an agreement with ERA-InfoTech Limited for 'Islamic Core Banking Solution (Hikmah)' to provide shariah based Islamic banking service to its customers. 

Khondoker Rashed Maqsood, Managing Director & CEO of Standard Bank and Md Serajul Islam, CEO of ERA-InfoTech Limited signed the agreement on behalf of their respective organisations on 16 August, reads a press release.

Prior to this formality, Standard Bank has been using Hikmah, an Islamic core banking solution developed by ERA InfoTech, since its transformation into a full-fledged Shariah-based Islamic bank on January 1, 2021. 

Md Touhidul Alam Khan, additional managing director, CRO & CAMLCO; Mohammad Rafiqul Islam, deputy managing director & COO; Md Mohon Miah, coordinator of Islami Bank Conversion project; Sufi Tofail Ahamed, EVP & CITO along with other divisional head of office from Standard Bank Limited and Tauhidul Hoque, CTO; ASM Nurun Nabi, Head of Business along with other high officials of ERA-Infotech were present at the programme. 

Maqsood, in his speech, thanked ERA InfoTech for providing quality services to the bank for a long time.