Azentio Software (“Azentio”), a Singapore-headquartered technology firm owned by funds advised by Apax Partners, today announced that Bank of Abyssinia (“BoA”) has successfully gone live with iMAL*IslamicFinancing and iMAL*ProfitCalculationSystem in less than four months, to support the growth of its Islamic window operations. Azentio’s Shariah-compliant profit calculation and distribution system makes profit distribution highly efficient. With the company’s AAOIFI-certified Islamic banking suite, BoA will be able to compete with both, Islamic banks and conventional banking methods of interest payouts, in rates and...