Monday 23, October 2017 by

ITS inks deal with Al Akdhar Bank

International Turnkey Systems Group (ITS), a provider of Islamic banking solutions, has signed a deal with Moroccan based Al Akdhar Bank, (a participation between Credit Agricole bank and Islamic Corporation for the Development of the Private Sector-ICD subsidiary of IDB), where the bank selected the ITS ETHIX Islamic Finance suite to be its new core banking solution.

“I am very pleased to join hands with Al Akdhar Bank. As a new market entrant, Al Akdhar is equipping itself with best financial technology in order to gain competitive advantage in today’s aggressive banking business landscape – a move that bodes well for its future success. finalising the ICBS (Islamic Core Banking Solution) implementation with the Bank further underscores the success of ITS’s robust and unique ETHIX product suite, and its widespread adoption internationally,” International Turnkey Systems (ITS) CEO, Esam Alkheshnam, said.

The ITS Ethix Islamic Banking Solution Suite includes a comprehensive range of synergistic products such as ETHIX-Core, ETHIX-Finance, ETHIX-Branch, Ethix-Net, Ethix-Mobile and many more.

“We are pleased to begin our digital journey with International Turnkey Systems (ITS). The award winning Ethix suite by ITS will support the Bank in offering innovative Banking products and services, and provide an outstanding customer experience to both our valued corporate and retail customers. This is aligned with positioning Al Akdhar as a strong position in the Moroccan market,” CEO of Al Akdhar Bank, Fouad Harraz said.  

‘ETHIX’ is a modular banking system covering branch, international and back office activities. It includes Retail, Wholesale, Corporate, Trade Finance and other functions. It runs in more than 70 international banks in Middle East, North African, and East Asian regions, as well as the Caribbean. ETHIX is an open system that consists of multiple modules; Core Module, Central Module, Branch Module, and International Module. Real on line support for branches, and modules can be installed on a standalone mode.

“The Islamic banking market is witnessing strong growth in Africa, and this deal is aligned with ITS plans of international growth and expansion,” Alkheshnam added.