ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, has participated in the 17th Annual Shari’ah Conference of The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), the leading international not-for-profit organisation primarily responsible for development and issuance of standards for the global Islamic finance industry.
The Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) held the AAOIFI 17th annual Shari’ah conference on Sunday and Monday 02-03 Sha’ban 1440H, 07-08 April 2019 at the Gulf Hotel in the Kingdom of Bahrain. This influential event discussed an array of key and latest developments and issues across the Islamic financial industry with the participation of heads and members of Shari’ah boards, leaders of Islamic financial institutions and stakeholders from around the world as well as academicians, scholars and decision makers. ICS Financial Systems (ICSFS) Islamic team, who are certified Islamic bankers (CIB) and certified Islamic specialists in accounting (CISA), attended the conference which was one of the largest attended events for AAOIFI in the recent times.
ICS Financial Systems (ICSFS) has been a supporting member of AAOIFI for almost 10 years, with its ICS BANKS ISLAMIC software suite, which is a modular fully integrated solution designed and developed following the principles of Shari’ah in compliance with the Accounting and Auditing Organisation for Islamic Financial Institutions (AAOIFI). ICS BANKS ISLAMIC consists of an Islamic core system, which provides all common operations between various banking activities, and a series of Islamic modules which cover the various different operational and business requirements of our specialised segments. ICS BANKS ISLAMIC can be offered as a complete stand-alone suite of Islamic Banking applications or as an Islamic Banking window, within the core system depending on the customer’s needs.
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 ISLAMIC 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 ISLAMIC 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 or in the cloud.