June 2024

ICSFS Culminates its Partnership with Al Rajhi Bank – Jordan as they Successfully Go-Live on ICS BANKS® Banking Solutions

Al Rajhi Bank Successfully goes live on ICS BANKS® Sharia Compliant Islamic Banking and Digital Banking Solutions from ICS Financial Systems Ltd. - ICSFS

Amman, Jordan

May 2024

Al-Rajhi Bank – Jordan, a key foreign branch of the world’s largest Islamic bank, has successfully gone live on ICS BANKS® Universal Islamic and Digital Banking Solutions from ICS Financial Systems Ltd. – ICSFS, a global software services provider for banks and financial institutions.

The implementation scope which covered the bank’s head office, 10 branches, and network of 47 ATMs; included completely scrubbing Al Rajhi Bank’s legacy system and successfully migrating to ICS BANKS® Full-fledged Universal Islamic Banking Solution as well as ICS BANKS® Holistic Digital Banking Solutions, enabling Al Rajhi to deliver a much broader scope of services and products to their customers and furbishing them with direct access to their banking services anytime, anywhere through ICS BANKS® numerous and secure digital touchpoints.

Customers of Al Rajhi Bank – Jordan will notice a positive impact on their digital banking experience with ICSFS’ multiple-award-winning and future-proof Banking System, including a significant shift in Al Rajhi Bank’s Shari’a-compliant financial products and services such as Ijara, Murabaha, in addition to Joint Investment Accounts, Time Deposits, Istisna’a and Parallel Istisn’a, Islamic Treasury System, and Islamic-Investment Certificate of Deposit, adding more value to Al Rajhi’s offering and enhancing financial inclusion.

Eyad Jarrar - CEO of Al-Rajhi Bank - Jordan, Commenting on the Recent transition to ICS BANKS® premium banking solution from ICS Financial Systems Ltd. - ICSFS

We are thrilled to navigate the financial services market with our new fully digital Shari’a-compliant Islamic Banking and Digital Banking Solutions. The new mobile app stands out for its significant benefits to our clients. It offers a more streamlined and user-friendly customer experience, making banking easier and more efficient. With the enhanced mobile app, our customers can access a wide range of diversified products and services effortlessly. This advancement opens up a world of possibilities for us to better serve our customers and meet their evolving needs.

In today’s world, banking technology is a fundamental necessity, making the selection of the right solution a crucial decision. Our choice was made easier by the outstanding banking solution we have implemented. Lastly, on behalf of Al Rajhi Bank – Jordan, I would like to express my deep gratitude for the high professionalism, proficiency, and relentless support we received from ICSFS while navigating this delicate endeavour.

Mr. Eyad Jarrar, CEO of Al Rajhi Bank – Jordan
Mohannad Musa - Head of IT, Al Rajhi Bank Commenting on their recent transition to ICS BANKS® premium banking solutions from ICS Financial Systems Ltd – ICSFS

The exceptional efforts by the Al Rajhi Bank team and ICSFS have led to a smooth transition from our old core banking system to the new one. This seamless changeover has significantly streamlined our operations, enhanced efficiency and improving service delivery. The new system is designed to support a wide range of digital banking services, providing our clients with a more user-friendly and efficient banking experience. Our fully digital Shari’a-compliant Islamic Banking and Digital Banking Solutions, including the new mobile app, stand out for their significant benefits.


The dedication, teamwork, and resilience demonstrated by Al Rajhi Bank and ICSFS team throughout this transformative phase have been instrumental in our success. Their unwavering commitment to excellence has truly elevated our collective achievements, ensuring that we continue to meet and exceed our customers’ evolving needs Thank you to the entire team for exemplifying the true spirit of partnership and for your relentless pursuit of excellence.

Mr. Mohannad Mousa, Head of IT at Al Rajhi Bank – Jordan

Al Rajhi Bank – Jordan will benefit from a future-proof and turbo-charged digital banking system with a multitude of solutions including ICS BANKS® Business Process Management (BPM), ICS BANKS® Credit Facilities and Risk Groups, ICS BANKS® Internet & Smart Mobile for retail and corporate, SMS Banking, ICS BANKS® Digital Global Transaction Banking Solution, ICS BANKS® Treasury, Trade Finance, Remittances, ERP, and DMS, in addition to a bundle of banking productivity tools that comes built-in with ICS BANKS® System including ICS BANKS® Advanced Reporting, Notifications, Nostro Reconciliation, 360° Customer Exposure, e-KYC, and Loan Origination Modules. These solutions not only streamline operations but also position Al Rajhi Bank – Jordan as a forward-thinking institution ready to embrace future advancements in banking technology.

Robert Hazboun, Managing Director of ICSFS

Our partnership with the largest Islamic bank in the world comes as a testament to the quality solutions we develop at ICSFS. The seamless Big Bang Go-Live of ICS BANKS® Solutions at Al Rajhi Bank – Jordan, is an important milestone for the bank and for ICSFS as well, as it reasserts the Bank position in the local and global markets, while demonstrating our commitment to deliver innovative, expandable, stable, and cost-effective banking solutions to our clients from around the world. 


We take our role in contributing to the growth and prosperity of the Banking and Finance sector very seriously, and we follow rigorous quality standards to ensure the satisfaction of our clients and their customers. We look forward to the rest of our journey with Al Rajhi Bank – Jordan and offering them our full support on their journey to consistently deliver excellent services.

Mr. Robert Hazboun, Global CEO of ICSFS
Wael Malkawi, Executive Director of ICSFS

As we celebrate a new and important milestone on our journey of innovation and growth with Al Rajhi Bank, ICSFS reiterates its commitment to contributing to the growth of its clients and its dedication to empowering them with best-of-breed technologies that will elevate their offerings and give them a sure-footed traction in their respective markets.


This significant achievement marks a remarkable new era for Al Rajhi Bank – Jordan with ICS BANKS® as their powerful and agile banking engine, and we pledge to continue working very closely with them to deliver an exceptional banking experience to their growing customer base.

Mr. Wael Malkawi, Executive Director of ICSFS

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.

Founded in 1957, Al Rajhi Bank is one of the largest banks in the world by market cap and the largest in the Middle East and Saudi Arabia. With over 60 years of experience in banking and trading activities, the bank has total assets of SAR 801 billion and a paid-up capital of SAR 40 billion (US$ 10.66 billion). It has an employee base of around 20,000+ associates.

As a foreign branch of Al Rajhi Bank, the Jordan branch has been operating in the Hashemite Kingdom of Jordan since 2011. The bank provides all financial, banking, and investment services in accordance with Islamic Shari’a rules and under the applicable banking law. The bank has grown its network to 13 branches and over 46 ATMs in Jordan, covering the top three populated governorates of Amman, Irbid, and Zarqa. Al Rajhi Bank meets the financial requirements of its growing number of corporate and retail customers by providing a wide spectrum of Shari’a-compliant products and services. www.alrajhibank.com.jo

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. www.icsfs.com

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