BML Istisharat selected for three new core banking projects in the Middle East

By Leandra Monteiro

The Kurdistan International Islamic Bank for Investment and Development (KIIB) in the Kurdistan Region and an Islamic private bank in Iraq has selected BML Istisharat ICBS for its transformation project.

Modern Trade Bank—Abu Dhabi (MTB Bank) has also selected ICBS G5 of BML Istisharat for its Core Banking automation project as the foundation of its Digital Solution project. In addition, ICBS G5 will also be replacing BBAC – Iraq’s current Core Banking System.

KIIB offers to its customers a broad range of retail and corporate banking products including current, saving, investment and payroll accounts, a comprehensive range of Islamic financing, a set of cards products and trade finance services. After a thorough evaluation process, KIIB selected BML to replace its current Core Banking system adopting ICBS of BML Istisharat as the foundation of its digital banking transformation.

MTB Bank under formation in the Abu Dhabi Global Market (ADGM) is being established by BBAC group as part of their strategic expansion to offer its customers a comprehensive range of corporate banking products. Following a full evaluation exercise including several international Core Banking solutions, MTB selected ICBS G5 of BML Istisharat for its Core Banking automation project as the foundation of its Digital Solution project.

BBAC – Iraq provides a full range of banking and financial solutions to individuals and businesses through a network of ATMs and branches in Erbil, Baghdad and Sulaymaniyah. ICBS G5 will be replacing BBAC – Iraq current Core Banking System answering comprehensively the Bank’s Retail and Corporate Banking transformation project and business needs.