It has been reported that Kuwait Islamic Bank (KIB) is being recognized by Microsoft for being the first Islamic bank to implement the Private Cloud Model. The Cloud has been made famous by Apple, on the premise that the most convenient way to keep information is in a virtual database.

Microsoft’s Private Cloud is a new model for delivery which turns the infrastructure of a data center, such as one at a bank, into a single cloud allowing for cloud computing. This will allow KIB to operate more smoothly and to host new application that previous IT models could not support.

The Deputy General Manager – Corporate Support at KIB, Lamya Altabtebai, said of the Private Cloud, "The deployment Private Cloud at KIB premises will result in numerous benefits and advantages for the business and customers. Private Cloud will reduce costs and speed the delivery of IT services.

She continued, "With the new technology our employees will be able to serve our clients and the business more efficiently and effectively in a confidential and secure approach."

Microsoft’s KIB Account Manager, Mohammad Hassan Darwish, added, "We are proud to recognize Kuwait International Bank for their outstanding commitments to provide innovative solutions in solving the unique needs of their customers."

"IT organizations that can use System Center 2012 and Windows Server with Hyper-V for cloud computing are helping their companies move faster, save money, and compete better," he concluded.

Kuwait International Bank has operated according to sharia principles since 2007. It offers all banking services including deposits, financial transactions, direct investment, murabaha (real estate, auto, commodities), ijara muntahia bittamleek (lease-to-own), istisna’a, tawarruq, credit cards, wakala, and more.