June 22, 2024

Al Busiari Bank boosts Yemen’s FI by electing ICS BANKS IBS

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Virtual Signing Ceremony Al Busiari Bank. Image Courtesy-ICS Financial Systems (ICSFS)

Al Busairi Bank for Microfinance, a newly-established bank in Yemen, has elected ICS BANKS Islamic Banking software solution from ICS Financial Systems (ICSFS), the global software and services provider for banks and financial institutions.

A virtual signing ceremony was conducted on August, 2nd 2022. The attendance of Al Busairi Bank for Microfinance’s General Manager; Mr. Abdullah Mohammed Al-Busairi, Executive Director; Mr. Waled Al-Attas, Business Consultant; Dr. Izzat Al-Sa’dee, and ICSFS Group Managing Director; Mr. Robert Hazboun, Executive Director; Mr. Wael Malkawi, Assistant General Manager; Mr. Raja Khoury, and Territory Manager; Mr. Hani Al Hamaydeh.

Al Busairi Microfinance Bank, General Manager; Mr. Abdullah Mohammed Al-Busairi, commented: “After the conflict in Yemen, microfinance banks have the opportunity to fill the gap through accelerating financial inclusion among the cities and rural areas of Yemen. Our partnership with the leading Islamic banking software provider will facilitate us in doing so. With ICSFS’ innovative products, we will definitely get ahead of our peers by providing real financial inclusion through its unified financing solutions and open banking architecture. We are eager to start this journey with ICSFS, and we look forward to executing Yemen’s most novel and innovative microfinance bank.”

Executive Director of ICSFS, Wael Malkawi

Executive Director of ICSFS, Wael Malkawi stated: “Microfinance inclusion in Yemen is very promising. We are delighted to be chosen by Al Busairi Microfinance Bank to be their strategic technology partner. Our promise to our clients is our long and solid relationship. We confirm our commitment to facilitate Al Busairi with the most innovative and holistic products and services, accompanied by the utmost 24/7 customer support. We embark on maximizing productivity and cost-effectiveness in banking operations. Our ICS BANKS Islamic provides robust and cutting-edge technologies that are fully Shari’a compliant, covering local and international Shar’ia regulations.”

Industry sources added that ICSFS invests in its software suites by utilizing modern technology in launching new products, constructing a secured and agile integration, and keeping pace with new standards and regulations worldwide. ICS BANKS software suite future-proofs 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 utilizing 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 cloud.

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