February, 2017

Al-Arabiya Islamic Bank Selects ICS BANKS® Islamic Banking Solution from ICSFS

ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that Al-Arabiya Islamic Bank, a newly established Bank located in Iraq, selected the multi-awards winning system ICS BANKS® Islamic Banking Solution.

The signing ceremony took place in Amman Jordan, and attended by the General Manager of Al-Arabiya Islamic Bank; Mr. Duraid Yaseen Hamdan, and the Executive Director for Business Development of ICSFS; Mr. Wael Malkawi.

We chose ICS BANKS® Islamic Banking System for its successful and dynamic accomplishments around the world, especially in the Iraqi market. We understand that the challenges we are facing today are quite difficult considering the growth of the Islamic banking in the region. We  are looking forward to this significant partnership where ICSFS will support us in achieving our desired growth targets, on all aspects and levels.

- Mr. Duraid Yaseen Hamdan,
General Manager of Al-Arabiya Islamic Bank

Al-Arabiya Islamic Bank (AIB) will enjoy many offerings and advantages, by implementing ICS BANKS® Islamic Core Banking and Credit Facilities & Risk Groups (Murabaha, Musharaka, Istisn’a, Ijara, Mudaraba, Qard Hasan), Trade Finance, Remittances, Investment Accounts & Profit Distribution, Time Deposit, and from ICS BANKS® DS (Delivery Channels); ICS BANKS® IBS (Internet Banking System) and Credit Cards and ATMS Management System.
Wael Malkawi, Executive Director of ICSFS
We are very optimistic towards this partnership where Al-Arabiya Islamic Bank joins our flourishing community in Iraq. At ICSFS, we provide innovative products by using the latest technologies to cover all financial services’ sectors from Universal, Islamic, Corporate, Investment and Retail banking solutions to Commercial, Finance Lease and Microfinance banking solutions and activities.” Malkawi added; “The project is planned to go live in a record time of two months, where Al-Arabiya Islamic Bank will be deploying the latest version of ICS BANKS ISLAMIC and enjoy its new look and feel unlimited benefits and our system’s unlimited offerings and advantages.

- Mr. Wael Malkawi; Executive Director, ICS Financial Systems

ICS BANKS® provides a complete suite of banking business modules with a rich sweep of functionality and features, addressing business needs and automating accounting processes, as needed, to improve a bank’s business performance. ICS BANKS has always been a pioneer in utilizing the latest technology to serve financial institutions. In addition to its embedded Service-Oriented-Architecture (SOA), the system is deployed in a multi-tiered setup that runs on a web thin client.

ICSFS invests in its software suites by utilising modern technology in launching new products, constructing a secured and agile integration, and keeping pace with new standards and regulations worldwide. ICS BANKS® software suites future-proof banking activities by providing a broad range of features and capabilities with more agility and flexibility, to enrich customers’ journey experience, hence improving the trust and confidentiality between the customer and the bank. ICS BANKS® has always been a pioneer in utilising the latest technology to serve financial institutions. In addition to its embedded Service-Oriented-Architecture (SOA), the system can be deployed on-premises or in the cloud.

A leading provider of modern banking and financial technology powered by a very solid, agile, and digital banking platform as part of its DNA, launching innovative products that are constructed on a secured and agile integration. Its ICS BANKS® Software is a fully integrated universal banking software with many suites servicing the financial industry that provide open products with international standards, real-time business processing, and value-added capabilities of tailoring products, on-premises, hybrid, or cloud. ICS BANKS® software suites future-proof banking activities by providing a broad range of features and capabilities with more agility and flexibility, to enrich customers’ journey experiences

a newly established Bank located in Iraq, its head quarter is in Baghdad and its branches are expanded around the country, Delivers premium banking services to its customers.
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Robert Hazboun, Managing Director of ICSFS

At ICSFS, we believe that banks need to take a holistic approach in choosing their banking application; to drive innovation, generate new opportunities and create a market advantage over their peers. It is our privilege to welcome Hadhramout Commercial Bank to our ICS BANKS community. Amongst the many products and features that HCB will benefit from, the bank will mostly enjoy ICS BANKS’ comprehensive digital platform capabilities in leveraging customer onboarding user experience, more customer reach, financial inclusion, and acquiring desired customer information at any time at any place.

- Mr. Wael Malkawi; Executive Director, ICS Financial Systems