Gartner Research

Market Guide for Islamic Core Banking Systems

Published: 08 July 2016

ID: G00292444

Analyst(s): Vittorio D'Orazio


Banks aiming for growth in the Islamic banking sector need dedicated Islamic core banking systems with sharia-compliant capabilities. Vendor offerings have now matured to the point that they offer true differentiation via adaptation to the sharia board, business functions and Islamic localization.

Table Of Contents

Market Definition

Market Direction

Market Analysis

Representative Vendors

  • AutoSoft Dynamics: AutoIBANKER
  • BML Istisharat: ICBS Islamic
  • EdgeVerve Systems (an Infosys Company): Finacle Islamic Banking Solution
  • Enterprise: I-Bank
  • ICS Financial Systems: ICS Banks Islamic
  • Infopro: eICBA
  • InfrasoftTech: OMNIEnterprise Islamic Banking Solution
  • International Turnkey Systems (ITS): Ethix-Core
  • Intertech: inter-Vision
  • Leads: BankUltimus
  • Millennium Information Solution: Ababil
  • Misys: FusionBanking Equation Islamic
  • Oracle: Flexcube Islamic Banking
  • Path Solutions: iMAL
  • SAB: SAB AT Islamic Finance
  • Silverlake Axis: Symmetri Islamic Core Banking
  • Sopra Banking Software: Sopra Banking Amplitude for Islamic Banking
  • Tata Consultancy Services: TCS BaNCS
  • Temenos Group: Temenos IslamicSuite

Market Recommendations

Gartner Recommended Reading

©2020 Gartner, Inc. and/or its affiliates. All rights reserved. Gartner is a registered trademark of Gartner, Inc. and its affiliates. This publication may not be reproduced or distributed in any form without Gartner’s prior written permission. It consists of the opinions of Gartner’s research organization, which should not be construed as statements of fact. While the information contained in this publication has been obtained from sources believed to be reliable, Gartner disclaims all warranties as to the accuracy, completeness or adequacy of such information. Although Gartner research may address legal and financial issues, Gartner does not provide legal or investment advice and its research should not be construed or used as such. Your access and use of this publication are governed by Gartner’s Usage Policy. Gartner prides itself on its reputation for independence and objectivity. Its research is produced independently by its research organization without input or influence from any third party. For further information, see Guiding Principles on Independence and Objectivity.

Already have a Gartner Account?

Become a client

Learn how to access this content as a Gartner client.