UR Islamic Bank Goes Live on ICS BANKS Islamic Banking Solution from ICSFS

  • Banking , Islamic Finance
  • 07.02.2022 09:15 am

Baghdad, Iraq: UR Islamic bank for Investment, a privately-owned bank in Iraq, has successfully gone live on ICS BANKS Islamic Banking software solution from ICS Financial Systems (ICSFS), the global software and services provider for banks and financial institutions.

UR Islamic Bank for Investment provides a portfolio of Islamic banking products to both; corporate and retail clients in the Iraqi market. The bank’s mission is to become a leading Islamic banking institution inside Iraq and globally. Through ICS BANKS Islamic’s innovative shari’a-compliant products and services, UR Islamic Bank will be providing the best-in-class services to its customers, ensuring gains on their investments, bringing value-added customer service in the highest and best ethical standards of Islamic Banking principles. ICS BANKS Islamic Shari’a-compliant and digital financing solutions have a strong focus on customer needs driven by specialised industry insights, digital innovation, and the highest commitment to service quality.

UR Islamic Bank for Investment, Chairman; commented: “ICSFS has successfully delivered the project on time and on budget. The solutions’ high level of performance is astounding. With its modernised Core and open banking products, accompanied by a strong and reliable profit distribution engine, we are keen to provide our customers with the finest Islamic banking services. We look forward to grasping all that ICS BANKS Islamic can offer with its dynamic product building, to attain a competitive edge in the financial services industry.”

Executive Director of ICSFS, Wael Malkawi stated: “Our ICS BANKS Islamic will support UR Islamic bank in accelerating growth through its comprehensive Islamic business-coverage, and powerful Islamic financing tools. ICSFS has built a solid reference base of Islamic banks in Iraq, where we operated the first fully digital bank, recorded the highest implementation, rollout management, and after go-live support customer satisfaction. We are very pleased to see another satisfied customer, and look ahead to leading them through a successful lifetime business.”

ICSFS invests in its software suites by utilising modern technology in launching new digital products, constructing a secured and agile integration, and keeping pace with new standards and regulations worldwide. ICS BANKS software suite future-proof banking activities by providing a broad range of features and capabilities with more agility and flexibility, to enrich customers' journey experience, hence improving the trust and confidentiality between the customer and the bank. ICS BANKS 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 can be deployed on-premises, hybrid, or on the cloud.

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