[vc_row][vc_column][vc_column_text]International Islamic Bank (IIB) has tapped up ICS Financial Systems (ICSFS) for its ICS Banks Islamic core banking system.

A newly-registered bank, Iraq-based IIB will be providing Islamic finance services fully compliant with Shari’ah. ICS Banks Islamic will underpin all the banks services including Murabaha, Musharaka, Ijara, Istisnaa, Mudaraba, Salam, Qard Hasan and more.

IIB was in the market for a “powerful partner”, according to Deputy CEO Suha Al-Kifae. The bank also chose ICSFS due to its “wide expertise in the Iraqi financial banking sector”. “We are confident that we will be able to improve our operational efficiency, and provide the utmost products and services to our customers,” adds Al-Kifae.

Wael Malkawi, Executive Director of Business Development at ICSFS, says that the vendor is proud of its “remarkable success in the Iraqi market”. “We are glad that International Islamic Bank has joined us in our flourishing journey,” he adds.

Related: BOND Savings & Loans selects ICS Banks

Read more: Al-Arabiya Islamic Bank opts for new core system, ICS Banks Islamic[/vc_column_text][/vc_column][/vc_row]

by Alex Hamilton
Alex is Senior Reporter at IBS Intelligence, follow him on Twitter or contact him at: alexanderh@ibsintelligence.com
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