E-Financial
Al Rajhi Bank Jordan Opts for ICS BANKS Business Suite from ICS Financial Systems

Al Rajhi Bank, Jordan, one of Al Rajhi Bank’s international branches, has selected ICS BANKS Islamic and ICS BANKS Digital Banking software solutions from ICS Financial Systems (ICSFS), the global software and services provider for banks and financial institutions.
Founded in 1957, Al Rajhi Bank is the largest Islamic bank in the world. Al Rajhi Bank has overseas branches in Kuwait, Jordan, and Malaysia. The bank has been operating in Jordan since 2011, with a network of 10 branches, and over 46 ATMs.
A signing ceremony took place in Jordan, on March 9, 2022, at the bank’s head office. The ceremony was headed by Mr. Eyad Jarrar, CEO at Al Rajhi Bank – Jordan, and Mr. Robert Hazboun, Managing Director at ICSFS.
Al Rajhi Bank – Jordan initiated its Universal & Digital Banking study and replacement project a couple of years ago, and opted for a fully-fledged Islamic banking platform and a holistic digital banking platform from ICSFS, to elevate financial services offerings to their valued customers. The study covered many international systems that participated in the international tender process.
The bank will be utilising ICS BANKS’ open banking and financial software products that are built on a fully-fledged digital ecosystem with; international standards, real-time business processing, and value-added capabilities of tailoring products, on-premises, cloud, or hybrid.
Al Rajhi Bank – Jordan, CEO; Eyad Jarrar commented: “ICSFS’ differentiation in Islamic and digital banking software solutions will pave the way to provide our customers with fully digital shari’a-compliant products and services.
“In line with Al Rajhi Bank’s strategy and with our new strategic technology partner, we will be able to leverage emerging technologies and infrastructure by providing the most sophisticated and customized solutions, and expand customer-centricity by providing the best customer experience with a differentiated and focused digital marketing approach supported by digital-ready platforms and touchpoints.”
Robert Hazboun, ICSFS, Managing Director; stated: “We are proud to be chosen by Al Rajhi Bank – Jordan as their strategic technology partner. We are committed to delivering innovative products that are constructed on a secured and agile integration.
“We assure Al Rajhi Bank – Jordan to have an enriched customer journey experience, through leveraging ICS BANKS’ fully integrated, end-to-end, future-proofed financial and banking software suites.
“The bank will also be able to utilise ICS BANKS to reduce costs, and drive productivity and efficiency. We are looking forward to a successful and solid partnership with Al Rajhi Bank – Jordan.”
ICSFS invests in its software suites by utilizing modern technology in launching new digital products, constructing a secured and agile integration, and keeping pace with new standards and regulations worldwide.
ICS BANKS software suite future-proof 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, cloud, or hybrid.
E-Financial
Nigerian Banks End Years of Embargo, Resume Intl Transactions on Naira Cards

Nigerian banks have resumed international transactions on naira-denominated debit cards, marking a significant shift in banking operations for customers who rely on foreign payments.
This is coming nearly three years of suspension.
United Bank for Africa (UBA) and Wema Bank, in separate communications to their customers, announced the restoration of international payment services on their naira cards.
In a notice to its customers, UBA said the reactivation of international transactions on its premium naira cards aligns with its commitment to delivering improved and seamless banking experiences.
“We are pleased to inform you that all UBA Premium Naira Cards, including Gold, Platinum, and World variants, are now enabled for international transactions,” the bank stated.
“This means you can now use your Premium Naira Card for global payments — including online shopping, POS, and ATM transactions — with ease and flexibility. If you haven’t used your card recently, now is a great time to rediscover the convenience and prestige that comes with being a UBA premium cardholder.”
Similarly, Wema Bank announced that its customers can now make dollar payments on international platforms using their naira Mastercards.
“Your Wema Naira Mastercard just went global!” the bank said. “Now you can pay in dollars on all your favourite international platforms — Amazon, eBay, AliExpress, Netflix, Spotify, YouTube.”
The development marks a major relief for Nigerian customers who have had to rely on dollar cards or alternative payment methods since most banks suspended international usage of naira cards in 2021 due to foreign exchange scarcity.
E-Financial
Flutterwave Secures 20 more US Money Transmitter Licences

Flutterwave, Africa’s leading payments technology company, today announced the relaunch of its flagship remittance solution, Send App, across U.S. states following its newly acquired Money Transmitter Licences (MTLs).
This comes after Flutterwave secured 20 additional MTLs in the U.S., adding to the 14 licenses the brand has held since 2023.
Altogether, this achievement raises Flutterwave’s total number of direct licenses to 34, allowing the company to operate across many U.S. states and territories without partners or intermediaries.
Users in the U.S. can now send money to Nigeria, Ghana and Egypt, unlocking new remittance corridors that were previously unavailable.
Alongside this expansion, the onboarding process has been streamlined with a quick ID check, making it faster and easier for new users to get started.
Additional improvements include optimised payment support for US-issued Visa and Discover cards, enhanced security measures to safeguard transactions and maintain compliance, and improved in-app flows for a simpler, more efficient sending experience.
This return also highlights Flutterwave’s commitment to delivering a seamless, secure, and regulatory-compliant user experience for all Send App customers in the U.S. Users can now send money from DC, Georgia, Maryland, North Carolina, Michigan, South Carolina, Tennessee.
Other U.S. states and territories where Send App by Flutterwave supports outward remittances include Alaska, Arizona, Arkansas, Delaware, Idaho, Illinois, Indiana, Iowa, Louisiana, Maine, Minnesota, Mississippi, and Missouri, Nebraska, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Puerto Rico, Rhode Island, South Dakota, Utah, Washington, West Virginia, Wisconsin, and Wyoming.
Commenting on the relaunch, Olugbenga “GB” Agboola, Flutterwave Founder and CEO, said, “By expanding our reach and enhancing our services, we are empowering millions of Africans in the U.S. to maintain strong financial ties with their home countries, support their families, and contribute to economic development across the continent. Additionally, we are staying true to our core mission of bridging Africa with the global economy and vice versa.”
Earlier this year, Flutterwave integrated Swap into Send App for seamless FX transactions and strengthened its services in Ghana by securing approval for inward remittance from the Bank of Ghana.
E-Financial
Court Affirms NIBSS Authority to Manage BVN

Federal High Court in Abuja on Friday affirmed the authority of the Nigeria Inter-Bank Settlement System (NIBSS), to manage the Bank Verification Number (BVN), database across the country, in line with the Central Bank of Nigeria (CBN), Act and other relevant banking laws.
This is according to a judgment delivered by Justice James Omotosho on Friday.
Wolemi Esan, senior advocate of Nigeria, NIBSS’s counsel, and Kofo Abdulsalam-Alada, lead counsel for the CBN, among others, had sought a restraining order to prevent any institution in Nigeria from challenging the agency’s statutory authority to maintain and manage the BVN database.
This comes as NIBSS had alleged that Digital Rights Lawyers Initiative filed multiple suits, either directly or through proxies, challenging its authority to manage the BVN database and claiming that such management violates constitutional privacy rights.
However, Justice Omotosho, delivering his judgment, said the BVN does not infringe on the constitutional right to privacy.
“The initiative does not infringe on the constitutional right to privacy but rather serves as a necessary tool for safeguarding public interest and enhancing financial security.
“NIBSS has the power to manage the BVN,” the judge said, citing relevant CBN laws.
“The court grants the reliefs of NIBSS as prayed,” he stated.
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