Azentio iMAL

World’s #1 Islamic Banking platform. AAOIFI-certified, digital first and trusted for speed, scalability and innovation.

AAOIFI-certified core to simplify Shari'ah-compliant banking

iMAL is the world’s leading Islamic banking platform and the only AAOIFI-certified core built specifically for Shari’ah-compliant finance. Covering retail, corporate, treasury, investment, trade finance, and microfinance, iMAL offers a comprehensive suite of solutions that enable institutions to deliver ethical, inclusive, and scalable banking, combining uncompromising compliance with agility and innovation.

Impact by numbers.

Leading Islamic banking forward

What our customers say

Bank of Abyssinia scales interest-free banking with Azentio’s iMAL.

Products

Comprehensive coverage for all Islamic banking needs

Islamic core banking

A robust, Shari’ah-compliant foundation that supports multi-entity, multi-currency operations with real-time processing, regulatory reporting, and a 360° customer view.

Islamic financing

End-to-end lifecycle management for Islamic financing products—covering origination, disbursement, repayments, and collections—ensuring compliance and efficiency at every step.

Islamic profit calculation (PCS)

An AAOIFI-certified profit calculation engine that automates accruals, allocations, reserves, and distributions. With advanced pool management, it enables banks to set up, monitor, and manage profit-sharing pools with full transparency.

Islamic treasury

Comprehensive Islamic treasury management with real-time coverage of money markets, FX, and risk controls to optimize liquidity and strengthen financial resilience.

Islamic investment management

Full-spectrum Islamic portfolio and fund management supporting sukuk, equities, commodities, and NAV—designed to streamline compliance and improve returns.

Islamic trade finance

Shari’ah-compliant trade finance that simplifies guarantees, letters of credit, and collections with automated workflows and built-in compliance checks.

Islamic microfinance

Inclusive, ethical financing for underserved communities with flexible models for group and individual lending, agent-driven workflows, and mobile support.

Digital banking platform

An API-first, cloud-ready architecture that connects seamlessly with mobile, online, and open banking ecosystems to deliver secure and seamless omnichannel customer experiences.

Work with us.
Your neighbours do.

We are excited to partner with Azentio as our chosen core-banking technology partner to support our ongoing business growth. The iMAL platform, with its inclusive features and commitment to Islamic banking principles, aligns with our objectives. This collaboration will support our teams in streamlining processes, enhancing productivity, and improving the omnichannel customer journey.

With Azentio, we’ve achieved full Shari’ah compliance while streamlining our operations and delivering transparent, efficient services to our customers. The solution has been a reliable backbone in our journey to scale and lead in Ethiopia’s interest-free banking sector.

At BankIslami, we are committed to providing best-in-class services while driving aggressive nationwide expansion. To fuel our growth, we need solutions aligned with global trends and capable of supporting our vision. The iMAL R14 upgrade is a critical step forward, equipping us with the technology to enhance efficiency and continue delivering innovative, Shari’ah-compliant financial solutions.

Azentio has been a core enabler in our journey to becoming a digital first, Shari’ah-compliant corporate bank. Their AAOIFI certification and seamless integration offerings have helped us launch on time and build a solid foundation for future expansion.

Insights

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Find out more about the latest Azentio news, innovations, and market trends shaping our industry.

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Frequently asked questions

Is Islamic banking only for Muslims?

No. Islamic banking is open to everyone, Muslim and non-Muslim alike. Its principles of ethical finance, transparency, and fairness appeal to a wide audience seeking values-based financial services.

What is the difference between Islamic and conventional banking?

Islamic banking prohibits interest (riba) and avoids speculative transactions (gharar). Instead, it emphasizes asset-backed financing and risk-sharing partnerships. Conventional banking, by contrast, is interest-based and often involves greater exposure to debt and derivatives.

What is riba, and why is it prohibited?

Riba is the practice of charging interest, and it’s strictly prohibited in Islamic law. It’s considered exploitative and contrary to the ethical and moral principles of Islam. Islamic finance encourages equitable wealth distribution and mutual benefit, which riba undermines.

What is Takaful, and how is it different from traditional insurance?

Takaful is a cooperative Islamic insurance model where participants contribute to a shared pool to cover each other’s losses. Unlike conventional insurance, Takaful is based on mutual responsibility and avoids interest, gambling (maysir), and uncertainty (gharar), all of which are prohibited in Islam.

What is AAOIFI and why is certification important in Islamic banking?

AAOIFI stands for the Accounting and Auditing Organization for Islamic Financial Institutions. It is the global standard-setting body for Islamic finance, headquartered in Bahrain. AAOIFI issues authoritative standards on:

- Shariah compliance
- Accounting practices
- Governance
- Ethical conduct

Why AAOIFI certification matters:

Ensures authenticity and alignment with Shariah law.
Provides trust and credibility with regulators, scholars, and customers.
Signals to Islamic financial institutions that a product or system (like Azentio’s iMAL) has been rigorously reviewed and approved.
Azentio’s iMAL solution is AAOIFI-certified, demonstrating our deep commitment to Shariah compliance and international best practices.

Are Islamic banking products more expensive than conventional ones?

Not necessarily. While the structure of Islamic financial products may differ (e.g., profit-based instead of interest-based), they are often competitively priced. In fact, many customers value the ethical framework and transparency that Islamic finance offers.

How does Islamic banking support economic growth?

Islamic banking supports real economic development by financing tangible assets and productive ventures. It also:

Encourages long-term partnerships
Supports small and medium enterprises (SMEs)
Fosters financial inclusion across underserved populations

Connect with Azentio

Let's begin our journey together.

We’d love to hear from you and answer your questions.

Azentio iMAL

AAOIFI-certified core to simplify Shari'ah-compliant banking

Impact by numbers.

Leading Islamic banking forward

Compliance by design

Agility to scale

Digital-first & future-ready

Bank of Abyssinia scales interest-free banking with Azentio’s iMAL.