The International Islamic Bank (IMTB) announces the successful completion of goAML Project, which went live recently at the bank. The system complies with the UNDOC requirements to combat money laundering and terrorist financing.

THE CHALLENGE:

Generating goAML reports in the IMTB requires automation and preparation of data that is either uncollected or resides in multiple business areas, as well as how to collect and manage the necessary data, which led IMTB to select the goAML compliance system from Pio-Tech.

THE SOLUTION: 

Pio-Tech goAML compliance system helped IMTB adapt to the changing regulations efficiently, balancing the main challenges facing compliance units, minimizing the pressure to meet regulators’ timelines to deploy goAML, and providing the requested reports in the format preset by the regulator under the guidelines of the UNDOC.

KEY BENEFITS:

As CEO of the International Islamic Bank (IMTB), Mrs.Suha Zaki Alkifaee, I’ve witnessed firsthand the transformative impact of the Pio-Tech goAML System on our operations. This implementation has been a game-changer, elevating our functionality in mapping report entries to data sources and ensuring our reports are generated with unparalleled accuracy and efficiency. The system seamlessly aligns with our vision, enhancing our capability to implement swiftly while minimizing the time and effort required.

The Pio-Tech goAML System stands out for its:

• Comprehensive array of adjusting, monitoring, and validation utilities, guaranteeing that our reports are not only generated correctly but also reflect our commitment to precision and excellence.
• Innovative automated report-generating engine, enabling our team to effortlessly produce reports in multiple formats, thereby improving our responsiveness and flexibility in service delivery.
• Detailed and comprehensive data model, meticulously crafted to ensure the collection of proper and relevant information, reinforcing our compliance and reporting integrity.
• These components have been instrumental in streamlining our reporting processes, allowing us to dedicate more resources towards achieving our strategic goals. The goAML System from Pio-Tech isn’t merely a tool; it’s a cornerstone of our pursuit of operational excellence and a reflection of our unwavering dedication to maintaining the highest standards of efficiency and regulatory compliance.

The International Islamic Bank (IMTB) is one of the leading banks in Iraq. It is officially registered by the Central Bank of Iraq to deliver banking services. Its headquarters are in Baghdad, and its branches are expanded nationwide.