Unleashing Innovation in Financial Crime Prevention: Morabaha Marina Collaborates with Tookitaki for Cutting-Edge AML Capabilities

SINGAPORE and RIYADH, Saudi Arabia, Sept. 4, 2023 /PRNewswire/ — Tookitaki, a global leader in financial crime compliance solutions, is pleased to announce its strategic partnership with Morabaha Marina Financing Co., a prominent Sharia-compliant financing company based in Saudi Arabia. This collaboration aims to enhance the latter’s Anti-Money Laundering (AML) compliance management capabilities while driving operational efficiency and fostering customer trust.

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Morabaha Marina Financing offers innovative financing solutions to individuals and small and medium enterprises 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. Waleed Al-Ghamlas, Executive Managing Director, at Morabaha, expressed, “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.”

Mr. Abhishek Chatterjee, Founder and CEO at Tookitaki, stated, “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.”

About Tookitaki

Tookitaki is a global name in the world of anti-financial crime. It pioneered the concept of fighting financial crime through an ecosystem or a community-based platform, where patterns of financial crime are shared by industry veterans on a continuous basis. The Anti-Financial Crime (AFC) ecosystem helps any financial institution learn, share and use typologies to counter emerging FinCrime patterns and stay safe and secure. Built on a federated learning framework, the AFC ecosystem powers the flagship compliance solution Anti-Money Laundering Suite (AMLS) to detect quality alerts, ensuring effectiveness and efficiency in AML programs.


About Morabaha

Morabaha Marina Financing Co. is a leading Sharia-compliant financing company based in Saudi Arabia. The company offers innovative financing solutions to individuals and small and medium enterprises through products such as Tawarruq, Ijara, and Murabaha. Morabaha supports customers’ financial needs and fosters reliable financing partnerships to drive development.

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