May 2023

Alinma Bank opts for ICS BANKS® Islamic Microfinance Solution from ICSFS to launch their operation in Yemen

Amman, Jordan

Alinma Bank for Islamic Microfinance – a privately owned Microfinance Bank recently established in Aden, Yemen, and one of the very first banks to obtain the necessary licensing from the Central Bank of Yemen to conduct Islamic Microfinance activities in the republic; has selected ICS BANKS® Islamic  Solution from ICS Financial Systems – ICSFS, the global software and services provider for banks and financial institutions.

Islamic Microfinance is rising to become one of the major trends in modern banking and finance, it stands to offer Finance solutions that complies with the rules and regulations set by the Islamic Shari’a. With this in mind, and ensuing Alinma Bank’s goal to achieve full digital transformation and provide integrated banking services through which modern financial products are availed to the Yemeni market; Alinma Bank endeavoured to obtain the most effective technical and technological instruments to accomplish their goals; hence their decision to opt for ICS BANKS® Islamic Microfinance Banking Solution from ICSFS due to the multitude of innovative features it offers alongside its Sharia-compliant infrastructure including: open banking backend, seamless scalability, wide deployment options, and true agility; therefore allowing the bank to scale their operation and cater to the rising demand in the future without hassle.

The online signing ceremony was attended by ICSFS’ Managing Director, Mr. Robert Hazboun, Executive Director Mr. Wael Malkawi, Chief Operating Officer, Mr. Samer Abu Roumi, and Alinma Bank’s Chairman of The Board; Mr. Khaled Weqad, Deputy Chairman; Mr. Mousa Al-Najjar; CEO, Mr. Yaqoob Al-Hobain; Assistant Executive Director, Mr. Abdelkarim Al-Najjar, and Director of Finance; Mr. Hussain Al-Salhi.

During the signing ceremony Mr. Khalid Waqqad, Chairman of the Board of Alinma Bank for Islamic Microfinance stated:

Alinma Bank was established with an aim to bring a much-needed evolution to the Banking and Finance sector in the Republic of Yemen, as we will focus on targeting SMEs, generating opportunities for people with limited income and giving them a fair chance to excel and prosper. We set out on a journey to promote a strong investment climate especially in the private sector, as well as providing support to the establishment of economic projects in Yemen. Our decision to opt for the ICS BANKS® Banking Platform comes in the spirit of our aspiration towards full digital transformation, financial inclusion, and offering innovative financial products and services to all segments of the Yemeni community.

From his side, Mr. Robert Hazboun; Managing Director of ICS Financial Systems Ltd said:
Robert Hazboun, Managing Director of ICSFS

We are joyous in welcoming Alinma Bank to the ICS BANKS® community, and confident that our comprehensive Islamic Microfinance banking solution will best serve Alinma in its efforts to introduce Islamic financial products into the Yemeni market, assisting them in driving innovation, creating opportunities, and achieving holistic financial inclusion for all of their clients. It has always been a point of pride with us at ICSFS to be an integral part of newly established banks such as Alinma Bank, marking our expanding presence in Yemen as part of our strategy to deliver innovative and cutting-edge Banking and Financial Services to emerging economies.

Our promise to provide excellent support stands timeless with Alinma Bank as it has with all our clients, seeing as one of the pillars of our success comes from top-rated customer support.

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, hybrid, or cloud.

About Alinma Bank for Islamic Microfinance

Alinma Bank – a privately owned Microfinance Bank recently established in Aden, Yemen, is one of the very first banks to obtain the necessary licensing from the Central Bank of Yemen to conduct Islamic Microfinance activities in the republic, aiming to provide support to Microprojects and SMEs, developing value chains to achieve sustainable community growth, offer innovative financial and non-financial services using cutting-edge technologies to further their reach and meet the growing customer demand, expanding financial inclusion via fully-integrated, high-quality digital touchpoints that allow customers direct access to all services anywhere anytime at minimal costs.

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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