People’s Bank of Zanzibar Selects ICS BANKS and ICS BANKS ISLAMIC System

February, 2017

Zanzibar, Tanzania: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announced that People’s Bank of Zanzibar (PBZ), a state-owned and one of the oldest commercial banks in Tanzania has selected the multi-awards winning systems ICS BANKS and ICS BANKS ISLAMIC Systems.

Under the patronage of the Chairman of PBZ; HON. Abdurrahman M. The signing ceremony took place in Zanzibar, attending the ceremony were the Managing Director of PBZ Bank; Mr. Juma Hafidh, and the Executive Director for Business Development of ICSFS; Mr. Wael Malkawi and the Territory Manager for East Africa of ICSFS; Mr. Nidal Bashaireh.

Following the signing ceremony, the Managing Director of PBZ Bank; Mr. Juma Hafidh stated;

“We are always looking forward to deliver innovative solutions for our customers, we believe that ICSFS solutions will assist us deliver innovative products and services, ICSFS has the extended experience, and technology to fulfil our vision. Hafidh added “ICS BANKS will support conventional and Islamic banking services in 18 different branches among the country, hence we believe it will provide us with extra competitive advantages and flexibility”

On this occasion, the Executive Director of Business Development at ICSFS; Mr. Wael Malkawi commented:

“We are honored to be working side-by-side with PBZ Bank in this initiative to transform core processing at the bank. We are embarking on this endeavor with PBZ Bank as strategic partners, both aligned in our vision for innovative technology to deliver a superior customer experience and enhance customer financial inclusion. We are looking forward to a long-lasting partnership with PBZ Bank in addition to our great ambitions for the African market”

PBZ Bank launched an international tender in July of 2015, ICSFS has won over international and regional vendors competing for the deal, where it will support the banks conventional and Islamic banking services, and will start the implementation project in February 2017.

ICS BANKS provides a complete suite of banking business modules with a rich sweep of functionalities 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 utilising 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.

ICS BANKS has won many awards, of which, “Best Core Banking Systems Technology Provider” at the World Finance Technology Awards that was organized by World Finance magazine, “Best Islamic Software Provider in MENA” from Global Banking and Finance Review, one of the worlds’ leading global banking and finance publications, “Banking Software of the Year” and ICS BANKS ISLAMIC has been awarded “Islamic Banking Application of the Year” at the BoICT Award that was held in Lagos – Nigeria.

About ICS Financial Systems Ltd. – (ICSFS): a leading provider of modular, universal banking systems with offices in United Kingdom, Jordan, United Arab Emirates, Qatar, Iraq, Saudi Arabia, Palestine, Sudan, Nigeria and Lebanon, ICSFS is a leading provider of modular, core banking systems, its success can be attributed to its turnkey offerings, ICS BANKS and ICS BANKS ISLAMIC, which serves and supports customers across the globe. ICSFS provides fully integrated universal, banking applications that deploys solutions and a range of professional services to automate and streamline banking services.

The People’s Bank of Zanzibar Limited (PBZ Bank): is one of the oldest commercial banks in Tanzania. It is fully owned by the Government of Zanzibar, PBZ is the only bank in Tanzania with its head office in Zanzibar. It dominates the Zanzibar market with about 50% of the market share. The bank offers both conventional and Islamic banking services with two divisions each set for the independent proposition.

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