ICS Financial Systems Limited (ICSFS), the global software and services provider for banks and financial institutions, has participated in the Astana International Financial Centre (AIFC) -Islamic Finance Week’s third annual conference organized by the Bureau for Continuing Professional Development (BCPD), to showcase its awards-winning ICS BANKS ISLAMIC banking application, exchange international experience on the development of Islamic finance in Kazakhstan and the CIS region.

Islamic Finance Week 2019 brought together international and local experts in the field of Islamic finance – ministries, universities, professional communities, developers and investors who are interested in expanding the industry, providing and simplifying access to knowledge. The event aimed at building productive discussions, with the world’s best leaders, on practical Islamic finance frameworks related to environmental, educational, technological and social issues, financial services, investments and regulatory structure of the market, as well as to inspire actions to support Kazakhstan’s own unique path.

The Islamic Finance Week program included a series of workshops by global Islamic leaders such as; Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), Zaid Ibrahim & Co (ZICO), International Centre for Education in Islamic Finance (INCEIF) and Islamic Development Bank (IsDB). ICSFS was invited to participate in the “Challenges of Digital Transformation in the Islamic Finance Industry” panel session, where Wael Malkawi; ICSFS’ Executive Director, shared ICSFS’ focus on Islamic banking implementation, especially in emerging markets, consisting of; Africa, Middle East, Southeast Asia and Central Asia.

“I would like to thank Islamic Finance Week’s organizers AIFC, for inviting us to participate in such a important event.” ICSFS’ Executive Director; Wael Malkawi stated. “ICSFS has been servicing the financial and banking industry for many decades and has witnessed the Islamic finance industry blossom in the past 20 years. Our ICS BANKS ISLAMIC software solution embraces Islamic business agility as a primary core driver of providing real value in this global competitive market.”


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.