Baghdad, Iraq: ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, today announced a successful implementation of its awards winning software; ICS BANKS® ISLAMIC System, in Noor Al-Iraq Islamic Bank, an Iraqi based bank which was formerly known as Sama Baghdad Islamic Bank.
Noor Al-Iraq Islamic Bank has officially announced the successful go-live of ICS BANKS ISLAMIC System, in its Head Quarter and branches all over Iraq. The bank experienced a smooth implementation with a record breaking time of two months, where it adopted ICS BANKS ISLAMIC Core Banking, Credit Facilities & Risk Groups, Remittances, Murabaha, Musharaka, Istisna’a, Investment Accounts & Profit Distribution, Time Deposit, Trade Finance and part of ICS BANKS Delivery Channels (DC); ICS BANKS Internet Banking.
The chairman of Noor Al-Iraq Islamic Bank Mr Haitham Al-Dabbas stated:
“As a newly established bank, we were looking for the utmost Islamic solutions to help us stay ahead of our tiers in this rapidly growing market. We chose ICS BANKS ISLAMIC for its proven record in Iraq of unlimited and comprehensive financial services and offerings, powerful and easy to use software, in addition to its advanced customer support service, and completion of
implementation in a short period of time – hence bringing us to this day of total automation in a record time.”
Mr. Robert Hazboun, Managing Director at ICFS commented;
“We utilise modern technologies to cover all business areas and to achieve the financial institution’s needs, goals and bespoke performance. Noor Al-Iraq will enjoy this universal Islamic software’s complete, integrated end-to-end and comprehensive suite of scalable and sophisticated Shari’a compliant products and services that addresses and fulfils the bank’s requirements. ICS BANKS ISLAMIC has shown an incredible increase of demand, as our customers are growing massively, all over the world and specifically in the Middle East.”
ICS 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 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.