Why The People’s Bank of Zanzibar Chose ICSFS

PBZ endorses ICSFS to banks looking to future-proof their banking technologies.
 

PBZ serves a wide range of business, corporate and institutional clients comprising Government and government agencies, all types of companies, societies, clubs, associations, NGOs, United Nation boards, Diplomatic Missions as well as individuals. We offer current accounts in both local currency (Tanzanian Shillings) and in foreign currencies (Sterling Pounds (GBP), Euro and US Dollar).

 

"The Bank’s vision is to be a leading provider of high quality and innovative products and services in Tanzania and beyond and to this, we chose ICS BANKS Universal and ICS BANKS ISLAMIC Banking software suites and developed a strategy to leverage technology, product innovation, business process re-engineering, and superior customer services and people development to stay ahead of an increasing competitive business environment."

 

Currently, the Bank has 8 branches in Zanzibar and 6 branches in Tanzania Mainland (Mtwara and Dar es Salaam). The plan of the Bank is to enhance its services and extend its branches to as many regions as possible in the country. The Bank also has 5 service centers in various areas side of town of Unguja and Pemba to make its service easily reachable by those people living out of the cities where the Bank branches are available. These centers are at Mazizini , Makunduchi and Kiwengwa in Unguja ,  Wete and Mkoani in Pemba.

 
 
     

" ICS Financial Systems provided us with a detailed project plan that was time and material efficient, where their team stayed committed during the implementation period."

 

PBZ is a new user of ICS BANKS products, where we have replaced our legacy system; Bankers Realm from Craft Silicon with ICS BANKS Universal & ICS BANKS ISLAMIC applications.

The implementation project took 15 months, covering 16 branches and one head office to serve both, Islamic and conventional services.

 

      Implemented for the Commercial Banking:      

Implemented for the Islamic Banking:

     

- ICS BANKS Core Banking
- Credit Facilities & Risk Groups
- Lending suite
- Remittances
- Trade Finance
- Investment and Treasury
- ICS BANKS Digital Banking software suite
- Business Process Management (BPM)
- Document Management System (DMS)
- Classification & Provisioning System
- Notification Systems

     

Islamic Core Banking, Islamic products including;   Murabaha, Istisna’a and Parallel Istisn’a, Ijara, Tawaruq, Mudarabeh, Musharaka, Salam, Qard Hasan, Profit Distribution, Time Deposit and Islamic Investment and Treasury software suite

       
       
     

"We are very pleased for choosing ICS Financial Systems as our technology and business partner. We receive regular updates, new releases and enhancements, and are provided by 24/7 support."

 

ICS BANKS’ team was dedicated in providing full technical and business support while servicing our needs, where implementing a new centralised core banking system that runs on the latest technologies with real time applications and open banking architecture was an important strategic objective for us.  We have encountered a positive implementation experience that was fulfilled successfully.

To learn more about ICS BANK functionalties, do not hesitate to send an email to contactus@icsfs.com