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ICSFS Successfully Go-Live on ICS BANKS® Banking Solutions @ Al Rajhi Bank

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Al-Rajhi Bank – Jordan, a key foreign branch of the world’s largest Islamic bank, has successfully gone live on ICS BANKS® Universal Islamic and Digital Banking Solutions from ICS Financial Systems Ltd. – ICSFS, a global software services provider for banks and financial institutions.

The implementation scope which covered the bank’s head office, 10 branches, and network of 47 ATMs; included completely scrubbing Al Rajhi Bank’s legacy system and succesfully migrating to ICS BANKS® Full-fledged Universal Islamic Banking Solution as well as ICS BANKS® Holistic Digital Banking solutions, enabling Al Rajhi to deliver a much broader scope of services and products to their customers and furbishing them with direct access to their banking services anytime, anywhere through ICS BANKS® neumerous and secure digital touchpoints.

Customers of Al Rajhi Bank – Jordan will notice a positive impact on their digital banking experience with ICSFS’ multiple-award-winning and future-proof Banking System, including a significant shift in Al Rajhi Bank’s Shari’a-compliant financial products and services such as Ijara, Murabaha, in addition to Joint Investment accounts, Time Deposits, Istisna’a and Parallel Istisn’a, Islamic Treasury system, and Islamic-Investment Certificate of deposit, adding more value to Al Rajhi’s offering and enhancing financial inclusion.

Al Rajhi Bank – Jordan will benefit from a future-proof and turbo-charged digital banking system with a multitude of solutions including ICS BANKS® Business Process Management (BPM), ICS BANKS® Credit Facilities and Risk Group, ICS BANKS® Internet & Smart Mobile for retail and corporate, SMS Banking, ICS BANKS® Digital Global Transaction Banking solution, ICS BANKS® Treasury, Trade Finance, Remittances, ERP, and DMS, in addition to a bundle of banking productivity tools that comes built-in with ICS BANKS® system including ICS BANKS® advanced reporting, notifications, Nostro Reconciliation, 360° Customer Exposure, e-KYC, and Loan Origination modules.

These solutions not only streamline operations but also position Al Rajhi Bank – Jordan as a forward-thinking institution ready to embrace future advancements in banking technology.

Mr. Eyad Jarrar, CEO of Al Rajhi Bank – Jordan, Stated: “We are thrilled to navigate the financial services market with our new fully digital Shari’a-compliant Islamic Banking and Digital Banking Solutions. The new mobile app stands out for its significant benefits to our clients. It offers a more streamlined and user-friendly customer experience, making banking easier and more efficient.

“With the enhanced mobile app, our customers can access a wide range of diversified products and services effortlessly. This advancement opens up a world of possibilities for us to better serve our customers and meet their evolving needs.

“In today’s world, banking technology is a fundamental necessity, making the selection of the right solution a crucial decision. Our choice was made easier by the outstanding banking solution we have implemented.

“Lastly, on behalf of Al Rajhi Bank – Jordan, I would like to express my deep gratitude for the high professionalism, proficiency, and relentless support we received from ICSFS while navigating this delicate endeavour.”

Mr. Mohannad Mousa, Head of IT at Al Rajhi Bank – Jordan, also stated: “The exceptional efforts by the Al Rajhi Bank team and ICSFS have led to a smooth transition from our old core banking system to the new one.

“This seamless changeover has significantly streamlined our operations, enhanced efficiency and improving service delivery. The new system is designed to support a wide range of digital banking services, providing our clients with a more user-friendly and efficient banking experience.

“Our fully digital Shari’a-compliant Islamic Banking and Digital Banking Solutions, including the new mobile app, stand out for their significant benefits.

The dedication, teamwork, and resilience demonstrated by Al Rajhi Bank and ICSFS team throughout this transformative phase have been instrumental in our success.

Their unwavering commitment to excellence has truly elevated our collective achievements, ensuring that we continue to meet and exceed our customers’ evolving needs Thank you to the entire team for exemplifying the true spirit of partnership and for your relentless pursuit of excellence.

From His Side, Robert Hazboun, Global CEO of ICSFS, commented: “Our partnership with the largest Islamic bank in the world comes as a testament to the quality solutions we develop at ICSFS.

“The seamless Big Bang Go-Live of ICS BANKS® solutions at Al Rajhi Bank – Jordan, is an important milestone for the bank and for ICSFS as well, as it reasserts the Bank position in the local and global markets, while demonstrating our commitment to deliver innovative, expandable, stable, and cost-effective banking solutions to our clients from around the world.

“We take our role in contributing to the growth and prosperity of the Banking and Finance sector very seriously, and we follow rigorous quality standards to ensure the satisfaction of our clients and their customers. We look forward to the rest of our journey with Al Rajhi Bank – Jordan and offering them our full support on their journey to consistently deliver excellent services. ”

Wael Malkawi, Executive Director of ICSFS, commented: “As we celebrate a new and important milestone on our journey of innovation and growth with Al Rajhi Bank, ICSFS reiterates its commitment to contributing to the growth of its clients and its dedication to empowering them with best-of-breed technologies that will elevate their offerings and give them a sure-footed traction in their respective markets.

This significant achievement marks a remarkable new era for Al Rajhi Bank – Jordan with ICS BANKS® as their powerful and agile banking engine, and we pledge to continue working very closely with them to deliver an exceptional banking experience to their growing customer base. ”

ICSFS invests in its software suites by utilising modern technology in launching new products, constructing a secured and agile integration, and keeping pace with new standards and regulations worldwide.

ICS BANKS® software suites 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 utilising the latest technology to serve financial institutions. In addition to its embedded Service-Oriented-Architecture (SOA), the system can be deployed on-premises, hybrid, or cloud.


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NCAA Enforces Penalties on Five Airlines for Passenger Rights Violations

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Nigeria Civil Aviation Authority (NCAA) has taken enforcement action against five airlines—two international and three domestic operators—for violations of Part 19 of NCAA Regulations 2023.

These breaches include failing to refund passengers within the stipulated timeframe, disregarding directives from the authority, mishandling luggage, issues with short-landed baggage, and problems related to flight delays and cancellations.

Michael Achimugu, NCAA’s director of public affairs and consumer protection, confirmed the development on Tuesday but declined to disclose the names of the sanctioned airlines.

Achimugu explained that while airlines are not always at fault for flight disruptions, NCAA regulations mandate specific actions they must undertake during such instances. Failure to comply with these directives results in penalties of varying severity.

Achimugu highlighted an uptick in passenger complaints about delays and cancellations, particularly during the festive season, with some disruptions attributed to harmattan-induced poor visibility.

“We all know that this is harmattan season, so there is poor visibility. Flights must get cancelled. This is force majeure, and the airlines do not owe passengers anything in those instances.

“The enforcement we are initiating today is on cases where the airline is deemed to have been at fault. More will come,” he said.

The NCAA plans to summon the chief executive officers (CEOs) of all airlines this week for a meeting to address flight disruptions and regulatory breaches.

Earlier, on December 10, the NCAA announced its intent to sanction airlines for delayed ticket refunds. Under Part 19 of the NCAA Regulations 2023, airlines are required to strictly adhere to refund timelines to protect passenger rights. Refunds for cash purchases must be made immediately and in cash, while electronic payments, including mobile apps and internet banking, must be refunded within 14 days.


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Firm Partners Access Bank to Train Youths in Digital Skills

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NerdzFactory Foundation in collaboration with the Access Bank, has trained over 518 youths in digital skills. The two weeks virtual training, Youth Transition Program (YTP) 5.0, was meant to equip the youths for employment and digital skills and prepare them to excel in the competitive job market and unlock new economic opportunities.

Director of NerdzFactory Foundation, Ade Olowojoba, said the significance of the programme reflects the foundation’s mission to empower a new generation of leaders with the skills needed to thrive in an increasingly dynamic and digital global economy.

“Through initiatives like this, we are fostering innovation, resilience, and economic independence among young Nigerians,” he stated.

He disclosed that the programme succeeded in reaching its objectives.  According to him, participants reported increased readiness for the workforce, improved digital skills, and enhanced entrepreneurial capabilities, which have positioned them to secure quality employment and launch their ventures. The programme has demonstrated the transformative impact of focused skill-building initiatives.

“NerdzFactory Foundation and Access Bank reaffirm their commitment to expand the reach of the Youth Transition Programme to empower more young Nigerians with the tools they need to achieve lasting success and contribute to Nigeria’s sustainable economic development,” he said.

The director noted that the programme launched in response to Nigeria’s high unemployment rate, delivered comprehensive training to empower participants with practical job search skills, digital marketing expertise, and knowledge of leveraging digital platforms for economic growth.

During the programme, some of the sessions included webinars and a virtual bootcamp designed to help participants develop workplace skills such as CV writing, LinkedIn optimisation, and effective use of digital workspace tools.

“By fostering economic independence and resilience, YTP 5.0 aligns with the United Nations’ Sustainable Development Goals, particularly Goal 4, on quality education and Goal 8, on decent work and economic growth,” he stated.

 


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Afreximbank and Ecobank Join Forces to Boost Trade and Compliance Across Africa

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African Export-Import Bank and Ecobank Group have embarked on a collaboration aimed at simplifying trade and compliance for businesses in Africa by integrating Ecobank’s Single Market Trade Hub and Afreximbank’s MANSA Digital Repository Platform.

With the collaboration, African businesses will benefit from seamless shared services across the two platforms, with users of the Single Market Trade Hub able to easily leverage MANSA’s comprehensive database for efficient know-thy-customer (KYC) and customer due diligence (CDD) checks while MANSA platform users would, in turn, be able to directly connect to the Single Market Trade Hub to explore trade opportunities to expand their businesses across Africa.

The Ecobank Single Market Trade Hub connects registered businesses across Africa on a single platform, helping them benefit from opportunities in the unified market of 1.4 billion people created by the African Continental Free Trade Agreement (AfCFTA).

It serves as a one-stop repository for the AfCFTA by providing small and medium-scale enterprises (SMEs) and corporates with insights about the agreement while its online match-making feature enables importers and exporters to upload their profiles and showcase goods and services they offer, or wish to source, with the aim of finding partners within Africa.

Once a match is found, connections are made via the platform and the transaction can be concluded leveraging on Ecobank’s trade and payment solutions in 35 African markets.

The MANSA Digital Repository Platform, or MANSA, is a one-stop-shop for due diligence matters on all African entities. As a centralised digital repository, MANSA seeks to eliminate information asymmetry and to increase intra-African trade and trade with the rest of the world.

It drives and promotes good governance culture among African SMEs and creates visibility for their businesses while also supporting African entities to expand, diversify and add value to their export products at both the local and international levels. Entities onboarded unto MANSA are allotted an Africa Entity Identifier (AEI) code which enables them to leverage other Afreximbank products and initiatives.

MANSA is also a key digital solution at the Africa Trade Gateway (ATG) marketplace which houses a suite of digital platforms designed as a single window to enable Afreximbank better deliver on its mandate, providing critical services to support and promote intra-African trade and the implementation of the AfCFTA. The platform enables African entities to accelerate their business activities at the ATG marketplace by working with verified information on trusted counterparties.

The new collaboration is, therefore, enabling Ecobank and Afreximbank to provide a central solution to the key challenge of KYC compliance and access to business across 35 countries in Africa. The improved interoperability is expected to further streamline cross-border trade and compliance in Africa, fostering greater financial and economic integration on the continent.

Afreximbank is a pan-African multilateral financial institution established to finance and promote intra- and extra-African trade.

Ecobank Group is a leading private pan-African banking group with unrivalled African expertise.


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