BML Istisharat gains new core banking tech site in Iraq

BML Istisharat gains new core banking tech site in Iraq

A start-up bank in Iraq, Al Qurtas Islamic Bank, has gone live with its core banking system, ICBS, supplied by a Lebanon-based banking tech vendor, BML Istisharat.

The bank embarked on the implementation last year.

According to BML Istisharat, Al Qurtas Islamic Bank is now live with the core, branch, Islamic financing and international banking modules.

Last month, another start-up in the country, International Islamic Bank, went live with the ICS Banks core banking solution from ICS Financial Systems (ICSFS).

Meanwhile, Zain Iraq Islamic Bank for Investment and Finance, also a newcomer to the Iraqi banking sector, has recently signed for Path Solutions’ iMAL core banking system.

Another greenfield bank in the country, Al-Thiqa Islamic Bank, has also embarked on a core system implementation project – the bank signed for the ICS Banks system.

Earlier this year, yet another start-up in Iraq, Al-Arabiya Islamic Bank, signed for ICS Banks too.

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