Nasik Islamic Bank goes live with BML Istisharat core system
Iraq-based Nasik Islamic Bank has gone live on the ICBS core banking system from BML Istisharat.
The bank has deployed ICBS for its core operations, deposits, and branch operations. BML claims that it managed to go from selection to go-live in four months.
The “resourceful and committed” teams on both sides achieved the project within timelines and budgets, says the vendor.
BML and Nasik completed the go-live remotely due to COVID-19 lockdowns in Beirut and Baghdad.
The two are working on the implementation of further modules, including compliance and cross-border payments capabilities.
Nasik Islamic Bank is an affiliate of Trade Bank of Iraq. The two lenders are in the process of launching a new fintech.
Trade Bank of Iraq CEO, Faisal Al Haimus, tells Global Finance that Iraq is “hungry” for fintech development after being closed off from the rest of the world for so long.