International Islamic Bank live with new core banking system
International Islamic Bank (IIB), a greenfield bank in Iraq, has gone live with the ICS Banks core banking system from regional developer ICS Financial Systems (ICSFS).
The project started in March this year and, according to ICSFS, “was finalised, in a record-breaking time of five months”. It adds the implementation “was smooth, swift and transparent”.
IIB and ICSFS teams
ICS Banks will support retail and corporate Islamic banking operations of IIB.
Deputy general manager of IIB, Suha Al-Kifae, says ICSFS was chosen “for its wide experience and strength in the Iraqi market”.
ICSFS now has over 20 customers in Iraq. Among them are Al-Arabiya Islamic Bank, Al Janoob Islamic Bank, Bank of Baghdad, Taawen Islamic Bank and Noor Al Iraq Islamic Bank.
