Iraq’s Al-Arabiya Islamic Bank has selected technology from ICS Financial Systems (ICSFS) to streamline banking services.

The bank will deploy the technology vendor’s ICS BANKS ISLAMIC core banking and credit facilities & risk groups, trade finance, remittances, investment accounts & profit distribution, time deposit, ICS BANKS DS (Delivery Channels), ICS BANKS IBS (Internet Banking System) and credit cards and ATM management system.

Al-Arabiya Islamic Bank general manager Duraid Yaseen Hamdan said: “We chose ICS BANKS ISLAMIC System for its successful and dynamic accomplishments around the world, especially in the Iraqi market. We understand that the challenges we are facing today are quite difficult considering the growth of the Islamic banking in the region.

“We are looking forward to this significant partnership where ICSFS will support us in achieving our desired growth targets, on all aspects and levels.”

ICSFS executive director of business development Wael Malkawi added: “The project is planned to go live in a record time of two months, where Al-Arabiya Islamic Bank will be deploying the latest version of ICS BANKS ISLAMIC and enjoy its new look and feel unlimited benefits and our system’s unlimited offerings and advantages.”