Al Hilal Bank selects SunTec to sidestep VAT law splat
Will use Xelerate solution for the management of the newly introduced Value Added Tax (VAT) regime.
Islamic Banking
Central Bank of Bahrain’s fintech sandbox heats up
Welcomes three new faces – investment service Wahed, BitArabia and online Bitcoin exchange Belfrics.
Crealogix moves on Middle East with Innofis acquisition
Swiss firm buys 100% of Innofis – a digital banking supplier for the Middle East.
Path Solutions beats ICS Financial Systems to core banking system deal in Iraq
Al-Rajih Islamic Bank, a greenfield bank in Iraq, has signed for the iMAL core banking system from Path Solutions.
Al Baraka Banking Group signs for Path Solutions’ iMAL core banking system
Bahrain-based Al Baraka Banking Group (ABG) has signed to implement the iMAL core banking system from Path Solutions at four of its 15 international subsidiaries.
New live site for ICS Banks core banking system in Iraq
Al-Thiqa Islamic Bank has gone live with new core banking software, ICS Banks, supplied by ICS Financial Systems (ICSFS).
Finastra gains new digital banking tech project in Libya
Libya-based Bank of Commerce and Development (BCD) has signed for Finastra’s front-end software to launch a new online and mobile banking platform.
Al Qurtas Islamic Bank live with new core banking system, BML Istisharat’s ICBS
A start-up bank in Iraq, Al Qurtas Islamic Bank, has gone live with its core banking system, ICBS, supplied by a Lebanon-based banking tech vendor, BML Istisharat.
Panin Dubai Syariah selects ICS Banks core banking platform
Panin Dubai Syariah, an Islamic bank in Indonesia, has selected ICS Banks core banking platform from ICS Financial Systems (ICSFS) to replace its legacy tech.
Zain Bank signs for Path Solutons’ iMAL core banking system
Zain Iraq Islamic Bank for Investment and Finance, a start-up retail bank in Iraq, has opted for the iMAL core banking system from Path Solutions.
ITS gains first core banking system deal in Morocco
Morocco-based Al Akhdar Bank, a joint venture of Crédit Agricole and Islamic Corporation for the Development of the Private Sector (ICD), has signed for a new core banking solution, Ethix, supplied by International Turnkey Systems (ITS).
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).
Meezan Bank in core banking system upgrade with NDC and Temenos
Meezan Bank, the largest Islamic Bank in Pakistan, has upgraded its core banking system, Temenos’ T24, to release 16.
Zarai Taraqiati Bank in new core banking system search
Zarai Taraqiati Bank Limited (ZTBL), a development bank in Pakistan, is looking for a new core banking solution for its conventional and Islamic banking operations.
Path Solutions gains new core banking tech client in Sudan
Sudan Financial Services Company (SFSC) has signed to implement the iMAL solution from Path Solutions for its investment activities.
ICSFS signs new core banking system deal in Iraq with Al-Thiqa Islamic Bank
Al-Thiqa Islamic Bank, a banking start-up in Iraq, has opted for the ICS Banks Islamic system from ICS Financial Systems (ICSFS).
Dar Al-Amane live with ITS Ethix core banking system
Dar Al-Amane, a participative finance window of Société Générale Maroc, is live with a new core banking system, Ethix, from International Turnkey Systems (ITS).
Bank of Khartoum turns to Path Solutions core banking system for UAE move
Bank of Khartoum (BOK) is implementing Path Solutions’ iMAL Islamic core banking system for its new branch in the United Arab Emirates – BOK International UAE. As reported last year, BOK opened its first international branch (in Bahrain), underpinned by Path’s iMAL. Path Solutions is a long-standing tech supplier to the Sudanese bank, but says […]
National Bank of Kenya in core banking system upgrade
National Bank of Kenya says it has upgraded to “the fifth and latest version” of its core banking platform, Fusionbanking Essense, supplied by Finastra (formerly Misys).
Commercial Bank of Dubai in core banking platform upgrade
International Turnkey Systems (ITS) has upgraded its core banking system, Ethix, at Commercial Bank of Dubai (CBD).
Dubai’s FinTech Hive accelerator kicks off
Dubai International Financial Centre’s (DIFC) inaugural FinTech Hive accelerator programme has started with the first batch of 11 finalists. As reported in April, DIFC called for applications for its FinTech Hive. The 12-week programme is designed to help early and growth-stage firms accelerate product and business development by gaining exposure to financial institution executives. Raja […]
Faisal Islamic Bank signs for Path Solutions’ iMAL core banking system
Sudan-based Faisal Islamic Bank is modernising its core banking software with Path Solution’s iMAL. Path’s competitor for the deal was ICS Financial Systems (ICSFS) with its ICS Banks offering.
Bank Islam plans digital Islamic banking roll-out
Bank Islam Malaysia Berhad is working with consulting firm Cognizant to lay the foundation for its digital banking platform roll-out across its entire network. Encik Khairul Kamarudin, CEO of Bank Islam, says the move will bring “greater accessibility to our customers as well as simplifying and improving their banking experience with us”. According to the […]
Oman Arab Bank upgrades core banking system with Finastra
Oman Arab Bank (OAB), a long-standing customer of Finastra (formerly Misys), is implementing the Fusionbanking Essence core banking system. It will replace Misys’ Equation platform, in operation at the bank for over three decades.
Oromia International Bank moves into Islamic banking, selects new core system
Ethiopia-based Oromia International Bank (OIB) has opted for the ICS Banks core banking system, supplied by ICS Financial Systems (ICSFS), to underpin OIB’s Islamic banking operations.
The rise of Islamic fintech, global opportunities for Bahrain
In its recent survey of the Islamic finance industry, S&P estimated that the sector’s total assets have now reached just over $2 trillion. Given that the modern version of Islamic finance is only decades old, this represents exceptional growth over a comparatively short period of time.
Path Solutions scores first core banking system deal in Morocco
Crédit du Maroc (CDM), a Morocco-based subsidiary of the Crédit Agricole group, has signed for Path Solutions’ iMAL core banking system to support its newly launched participative banking window.
ICSFS signs National Bank of Yemen for ICS Banks core system, goes live at BOND Savings and Loans
ICS Financial Systems (ICSFS) has signed a core banking software deal with National Bank of Yemen, and has gone live at BOND Savings and Loans in Ghana.
Top fintech stories this week – 21 April 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Bank ABC revamps digital channels with Backbase
Bahrain-based Bank ABC (Arab Banking Corporation) is modernising its digital channels for retail and wholesale banking customers with Backbase’s tech.
Ummah Finance to become first UK-based mobile Islamic bank
Ummah Finance aims to be “the first UK born Islamic bank solely set up and operating from London”, with a fully digital proposition.
Trustbank Suriname selects core banking tech from Path Solutions
Path Solutions and its iMAL core banking system have beaten Temenos and Oracle FSS to a core banking software deal at Trustbank in Suriname.
International Islamic Bank picks core banking system and vendor
A greenfield bank in Iraq, International Islamic Bank (IIB), has signed for the ICS Banks core banking system from ICS Financial Systems (ICSFS).
Autosoft Dynamics ousts rival Path Solutions at ex-Burj Bank in Pakistan
Al Baraka Bank in Pakistan is migrating the acquired fellow Islamic bank, Burj Bank, onto the Autobanker core banking system from Autosoft Dynamics.
ITSS delivers Temenos’ T24 core banking system to SAFA Bank
SAFA Bank, a new Islamic bank in Ramallah Palestine, has gone live on the Islamic version of Temenos’ T24 core banking system. The project was delivered by the vendor’s partner ITSS Global.
Bank of Khyber selects Autosoft’s treasury solution
Pakistan’s Bank of Khyber (BOK) has chosen Autosoft Dynamics’ Islamic treasury management system, Adams, and its RTGS STP utility (real-time gross settlement system straight-through processing), AutoRTGS. The government-owned bank will use Adams (automatic deal, money market and securities trading system) for conventional and Islamic treasuries, while AutoRTGS will be used for processing fund transfers between […]
ICSFS gains new core banking system client in Iraq, Al-Arabiya Islamic Bank
Al-Arabiya Islamic Bank (AIB), a greenfield bank in Iraq, has opted for the Islamic version of the ICS Banks core banking system from regional vendor ICS Financial Systems (ICSFS).
Askari Bank goes live on Autosoft’s Islamic treasury solution
Pakistan-based Askari Bank has gone live with Autosoft’s Islamic treasury management system, Adams Islamic, and its RTGS STP utility (real-time gross settlement system straight-through processing), AutoRTGS. The bank can manage its Islamic treasury operations using Adams Islamic as well as process funds transfers between banks using AutoRTGS. Adams Islamic is also integrated with the bank’s […]
Qatar International Islamic Bank recommits to Misys
Qatar International Islamic Bank (QIIB), a long-standing customer of Misys, is implementing the new version of the vendor’s core system for Islamic banks, FusionBanking Essence Islamic, front-to-back office.
NDC migrates Sahara Bank to new core banking system, Temenos’ T24
Libya-based Sahara Bank has gone live with new core banking software, Temenos’ T24 (R14). The project was carried out by Pakistan-based National Data Consultants (NDC), Temenos’ regional partner.
