Al Busairi Bank opts for ICS Banks core banking system
Al Busairi Bank for Microfinance, a newly established bank in Yemen, has selected the ICS Banks Islamic core banking system from ICS Financial Systems (ICSFS).
Al Busairi’s roots are in money exchange, and it has recently received a banking licence. It will be providing Islamic microfinancing products and services, underpinned by the ICS Banks Islamic core and a range of auxiliary modules, such as remittances, financing facilities and risk groups, and digital channels.
“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,” comments Abdullah Mohammed Al-Busairi, the bank’s general manager.
“We will definitely get ahead of our peers by providing real financial inclusion through the ICSFS unified financing solutions and open banking architecture,” he states. “We look forward to executing Yemen’s most novel and innovative microfinance bank.”
Earlier this year, the vendor singed another start-up bank in the country, Hadhramout Commercial Bank (HCB), for its flagship ICS Banks core banking system.