Saudi’s Morabaha join forces with Tookitaki to enhance AML capabilities

By Arya M Nair, Official Reporter
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Morabaha_Tookitaki AML partnership
Rep.Image (Courtesy: Tookitaki)

Morabaha Marina Financing Co., a prominent Sharia-compliant financing company based in Saudi Arabia, has strategically partnered with Tookitaki, a global leader in financial crime compliance solutions.

This collaboration aims to enhance the latter’s Anti-Money Laundering (AML) compliance management capabilities while driving operational efficiency and fostering customer trust.

Morabaha Marina Financing offers innovative financing solutions to individuals and small and medium enterprises (SMEs) within Saudi Arabia. The company’s commitment to fostering reliable financing partnerships aligns seamlessly with Tookitaki’s advanced technology-driven approach to financial crime prevention.

Mr. Abhishek Chatterjee_Morabaha_Tookitaki partnership
Mr. Abhishek Chatterjee
Founder & CEO

“We are excited to join forces with Morabaha and support their mission of delivering innovative financing solutions while ensuring regulatory compliance and robust risk management. Our AML solutions will empower Morabaha to efficiently monitor transactions, conduct thorough screenings, and streamline customer risk assessments. This partnership exemplifies our commitment to driving financial institutions toward a safer and more secure future.”

Mr. Waleed Al-Ghamlas, Executive Managing Director, at Morabaha said that “Partnering with Tookitaki was a strategic decision to strengthen our AML compliance framework and provide more secure and efficient financing solutions to our customers. Tookitaki’s comprehensive suite of solutions, including Transaction Monitoring, Smart Screening, Dynamic Risk Scoring, and Case Manager, aligns perfectly with our goals of achieving regulatory compliance, operational efficiency, and customer-centric financial services.”

Tookitaki’s state-of-the-art AMLS modules, Transaction Monitoring, Smart Screening, Dynamic Risk Scoring, and Case Manager, will play a pivotal role in enabling Morabaha to achieve comprehensive risk coverage, accelerate time-to-market for new typologies, and maintain regulatory readiness. The partnership showcases a shared dedication to delivering excellence in financial services while upholding the highest standards of compliance and security.

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