ICS Financial Systems Limited (ICSFS) the global software and services provider for banks and financial institutions, announced that Agricultural Bank of Sudan (ABS) selected its flagship and cutting-edge solution ICS BANKS® ISLAMIC.
Owned by the Government of Sudan including the Ministry of Finance & National Economy and the Central Bank of Sudan, Agricultural Bank of Sudan is the pioneer of specialized national banks in Sudan, with more than 50 years in the service of national economy in the development and modernization of agriculture in Sudan, ABS introduced the banking services into rural areas. The banks’ branch network is spreading all over the country with (99) branches and (17) offices in Sudan, in addition to a branch in the neighboring Republic of Chad.
The signing ceremony took place in Khartoum, Sudan at the headquarter offices of Agricultural Bank of Sudan. Attending the ceremony were General Manager at Agricultural Bank of Sudan; Mr. Salah Al Din Hasan Ahmad accompanied with managers and department heads of the bank ,Managing Director at ICSFS; Mr. Robert Hazboun, Executive Director for Business Development at ICSFS; Mr. Wael Malkawi, and Sudan Territory Manager at ICSFS; Mr. Hani Hamaydeh.
General Manager of Agricultural Bank of Sudan; Mr. Salah Al Din Hasan Ahmad commented, “By signing this agreement, Agricultural Bank of Sudan will be taking the first step towards a real and comprehensive transformation that will enhance our performance. The project objectives will hopefully be achieved as planned by the relevant parties. We have chosen ICS BANKS® ISLAMIC from ICS Financial Systems for its extensive experience with many African and Arabian banks. We are very confident that the successful deployment of ICS BANKS® ISLAMIC system will be mainly based on empowering users’ knowledge to benefit from the existing system features, to increase the efficiency of our various financial and administrative operations, and to achieve the banks’ goals and future plans. Moreover, to improve its competitive advantage in the Sudanese financial market, especially that we are widely spread all over the country. "
Managing Director at ICSFS; Mr. Robert Hazboun stated, “We are delighted to have been chosen by Agricultural Bank of Sudan, as the implementation of ICS BANKS® ISLAMIC will facilitate the bank’s operations, allowing it to serve its clients more efficiently, enhance its competitive position, and provide more technological solutions in the Sudanese Banking Industry. ICS BANKS® ISLAMIC solution embraces high and flexible parameterisation that meets all business and Shari’a requirements of banking clients of all sizes.”
Executive Director for Business Development at ICSFS; Mr. Wael Malkawi said, “Agricultural Bank of Sudan has been searching for modern Islamic banking software for quite a while now, and finally landed on choosing our system ICS BANKS® ISLAMIC. We believe our solutions will enable the bank to address customer’s needs and requirements, and stay up to date with the comprehensive and advanced banking technologies.”Mr. Malkawi added,” Agricultural Bank of Sudan will deploy Core Banking, Credit Facilities & Risk Groups, Trade Finance, Investment & Treasury, Remittances, Delivery Channels, along with Morabaha, Ijara, Unrestricted and Restricted Investment Accounts & Profit Distribution, Qard Hasan, Musharaka, Mudaraba and Salam modules from the fully integrated ICS BANKS ISLAMIC® banking software. "
IICS BANKS® ISLAMIC 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® ISLAMIC 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, J2EE environment.