ICS Financial Systems Limited (ICSFS),announced that Oromia International Bank (OIB)has selected the multi-awards winning system ICS Banks Islamic. It will provide a complete suite of banking business modules.
Oromia International Bank (OIB) will be implementing ICSFS’ universal Islamic flagship, ICS BANKS ISLAMIC in its head quarter and its 200+ branches; this mile stone project will provide Oromia International Bank with world-class fully integrated banking solutions which are designed and developed following the principles of Shari’a of which; ICS BANKS ISLAMIC Core Banking, Murabaha, Musharaka, Ijara, Istisna’a Tawaruq, Mudaraba, Salam, Qard Hasan, Salam Islamic, Deposit, Profit Distribution, Investment and Treasury, Trade Finance, Credit Facilities & Risk Groups, Remittances, Internet Banking, DMS, MIS, SMS, Mobile banking.
The signing ceremony took place in Ethiopia, attending the ceremony were the President of the bank; Mr. Abie Sano and the Executive Director of Business Development at ICSFS; Mr. Wael Malkawi.
Following the signing ceremony, The President of the bank; Mr. Abie Sano commented: “At OIB we are committed to providing full-fledged Interest Free Banking (IFB) and best quality banking services, we have selected ICSFS for its cutting-edge solution, and outstanding products, ICSFS wide experience in the African financial market will assist us fulfil our constant desires to deliver superior services to our esteemed customers, and we will be able to improve our operational efficiency.”
On this occasion, the Executive Director of Business Development at ICSFS; Mr. Wael Malkawi commented: “We are looking forward for this partnership, where Oromia International Bank will mark our first reference in Ethiopia and will join our expanding leading journey in the African continent, as our vision is reflected with new unleashed Opportunities and new defeated challenges.” Malkawi added “we are looking forward for a long-lasting partnership, where Oromia International Bank will definitely enjoy ICS BANKS ISLAMIC unlimited offerings and advantages.”
ICS BANKS ISLAMIC provides a complete suite of banking business modules with a rich sweep of functionalities and features, addressing business needs and automating accounting processes, as needed, to improve a bank’s business performance. ICS BANKS ISLAMIC 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 is deployed in a multi-tiered setup that runs on a web thin client.
Oromia International Bank was established in 2008 with accordance with the pertinent laws, regulations and the Commercial Code of Ethiopia, it provides full-fledged and best quality commercial banking services.