August, 2022

Al-Busiari Bank to Accelerate Financial Inclusion in Yemen by opting for ICS BANKS® Islamic Banking Solution from ICSFS

Al-Busairi Bank Virtual Signing Ceremony

Hadhramout, Yemen:

Al Busairi Bank for Microfinance, a newly established bank in Yemen, has selected ICS BANKS Islamic Banking software solution from ICS Financial Systems (ICSFS), the global software and services provider for banks and financial institutions.

A virtual signing ceremony was conducted with the attendance of Al Busairi Bank for Microfinance’ General Manager; Mr. Abdullah Mohammed Al-Busairi, Executive Director, Mr. Waled Al-Attas, Business Consultant; Dr. Izzat Al-Sa’dee, and ICSFS’ Group Managing Director; Mr. Robert Hazboun, Executive Director; Mr. Wael Malkawi, Assistant General Manager; Mr. Raja Khoury, and Territory Manager; Mr. Hani Al Hamaydeh.

After the conflict in Yemen, microfinance banks have the opportunity to fill the gap through accelerating financial inclusion among the cities and rural areas of Yemen. Our partnership with the leading Islamic banking software provider will facilitate us in doing so. With ICSFS’ innovative products, we will definitely get ahead of our peers by providing real financial inclusion through its unified financing solutions and open banking architecture. We are eager to start this journey with ICSFS, and we look forward to executing Yemen’s most novel and innovative microfinance bank.

- Mr. Abdullah Mohammed Al-Busairi, General Manager, Al Busairi Microfinance Bank

Al Busairi Bank for Microfinance was first established as a money exchange company. As a successful growing company, Al Busiari was later registered and granted a bank license by the Central Bank of Yemen.  The bank will be delivering comprehensive open banking platform, Shari’a-compliant microfinancing products and services, with wide range of digital touchpoints to the Yemeni market. The bank will be implementing ICS BANKS Islamic Core, Financing Facilities & Risk Groups, Remittances, ICS BANKS Digital and wide range of Islamic banking products.

Wael Malkawi, Executive Director of ICSFS

Microfinance inclusion in Yemen is very promising. We are delighted to be chosen by Al Busairi Microfinance Bank to be their strategic technology partner. Our promise to our clients is our long and solid relationship. We confirm our commitment to facilitate Al Busairi with the most innovative and holistic products and services, accompanied with the utmost 24/7 customer support. We embark on maximising productivity and cost effectiveness in banking operations. Our ICS BANKS Islamic provides robust, and cutting-edge technologies that are fully Shari’a compliant, covering local and international Shar’ia regulations.

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

ICSFS invests in its software suites by utilising modern technology in launching new digital products, constructing a secured and agile integration, and keeping pace with new standards and regulations worldwide. ICS BANKS® software suite 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, hybrid, or 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.

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