ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, announces that Mansour Bank for Investment, an Iraq-based bank and its partner, Qatar National Bank (owns 51%), has selected its global awards winning flagship ICS BANKS® to replace its core banking and IT systems.

The signing ceremony took place in Beirut, Lebanon where Chairman at Mansour Bank for Investment; Mr Mahdi Mohammed Jawad Al Rahim, General Manager at Mansour Bank for Investment; Mr. Abdal-Ahad Butres Toma and a number of experts and senior staff of the bank, accompanied with Executive Director for Business Development at ICSFS; Mr. Wael Malkawi, agreed to commence this project towards a real and comprehensive transformation that will enhance Mansour Bank’s performance. With this move, Mansour Bank for Investment will join ICS BANKS family in Iraq, as most of the Iraqi and international banks in Iraq are already banking on ICS BANKS.

Mr Mahdi Mohammed Jawad Al Rahim, Chairman, Mansour Bank for Investment, commented:

“Mansour Bank for Investment place technology and the development of human resources in the first place to ensure providing the most modern banking services to customers. We are pleased to confirm our partnership with ICS Financial Systems (ICSFS), for implementing the latest and best reached banking solutions from ICS BANKS, to meet our clients' various banking needs in the Financial Market; especially the Iraqi Market, as ICS BANKS has a proven track record in Iraq.”

Mr. Abdal-Ahad Butres Toma, General Manager, Mansour Bank for Investment, said:

“Our aim is to provide different banking services in the light of the current Laws and Regulations, and to be an active contributor in supporting the growing march of building Iraq’s economy. That is why we have chosen ICS BANKS from ICS Financial Systems. With its extensive experience in the Iraq’s banking and financial sector, we are very confident that by using ICS BANKS we will increase the efficiency of our various financial operations, improve our competitive advantage in the Iraqi financial market and achieve our major goals and future plans."

Mr. Robert Hazboun, Managing Director, ICSFS, commented:

“ICS BANKS was chosen for its well-known reputation in the world and Iraq and its powerful operational efficiency during a reasonable implementation time. Mansour Bank for Investment will receive a wide range of professional services to automate and streamline its banking services, as ICSFS uses specific tools and tested methodologies for conducting gap analysis, and formulating a migration roadmap for banks, and implementing optimum Data Centre and Disaster Recovery with emphasis on local requirements and regulations. We look forward to supporting Mansour Bank in the near future.”

Mr. Wael Malkawi, Executive Director for Business Development, ICSFS, stated:

“We have been live and fully operated in the Iraqi Market since March 2001. Our long outstanding operations in Iraq has made it easier for banks to choose ICS BANKS amongst other banking systems. As our customers’ recommendations have been – and still – our number one opting strength in Iraq and the regions we operate in. Mansour Bank will enjoy ICS BANKS’ cutting-edge technology in addition to its embedded Service-Oriented-Architecture (SOA), real-time processing and fast deployment. ICS BANKS will drive the banks’ productivity, lower its costs and risks, and deliver customer centricity.”

ICS BANKS 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 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.