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Tuesday 15th June, 2021

BANKING

Trustbank Selects ICS BANKS Islamic From ICSFS

Trustbank is the first bank in Uzbekistan to launch Islamic Banking services

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Trustbank, one of the leading banks and the first private bank to be providing Islamic banking services in Uzbekistan, has selected ICS BANKS Islamic Banking software solutions from ICS Financial Systems (ICSFS), the global software and services provider for banks and financial institutions.

A virtual signing ceremony was conducted recently, between Trustbank and ICSFS with the participation of ICD (the Islamic Corporation for the Development of the Private Sector).

The ceremony was attended by Deputy Chairman of Trustbank, Kamil Gabbazov, Head of Islamic Financing of Trustbank, Mukhammadfayoz Ibadov; Deputy Director of the International Relations Department of Trustbank, Aleksey Kim.

Others are Managing Director of ICSFS, Robert Hazboun; Executive Director of ICSFS, Wael Malkawi; CIS Territory Manager of ICSFS, Nidal Bashaireh; PMO Head of ICSFS, Mohammad Omari; Project Manager of ICD, Muzaffar Nizamidinov and Project Management Office Consultant – IT & Fintech Specialist of ICD; Ibrahim Al-Saywed.

Chairman of the Management Board of Trustbank, Sardor Normukhamedov said, “As one of the leading banks of the Republic of Uzbekistan, it is our privilege to be the first in adding Islamic Banking products to our services.

“We strive for becoming the best in providing high-quality modern banking services as well Islamic banking services in the Uzbek’s banking sector, and with this new joint milestone with ICSFS and ICD, which is the very first of its kind, we are creating history!”

Deputy Chairman of Trustbank, Kamil Gabbazov stated during the signing ceremony: “First, I would like to start by thanking the devoted teams for conducting this special event. We have started our cooperation with ICD back in 2018, and in this short period of time, we have received generous funds in the amount of USD 19 million that were provided in a Shariah-compliant line of financing to further support the private sector in the country.

“We are very happy for choosing ICS BANKS Islamic from ICSFS as an Islamic Window IT solution provider and look forward to starting this collaboration.”

Managing Director of ICSFS, Robert Hazboun stated that “It is our honour to be the first business technology company to enter the Islamic banking sector in Uzbekistan. With ICSFS’ strong track record in implementing its ICS BANKS Islamic software solutions, Trustbank will have a smooth launch of its new Islamic products, and will be offering holistic Islamic services to its customers.”

Muzaaffar Nizamidinov of ICD said, “On behalf of the ICD team, I would like to congratulate both ICSFS and Trustbank for signing the first Islamic IT solution contract in Uzbekistan history.

“We trust that Trustbank will be a pioneer in launching the first Islamic banking window in the country, and hope that Trustbank will be converted into a full-fledged Islamic Bank in future. We wish you all the success in the implementation of the solution, in Sha’a Allah.”

Weal Malkawi, Executive Director of ICSFS stated, “We are very happy to be part of this breakthrough – to see Islamic Banking kick-off in Uzbekistan, and to see Trustbank as one of the leaders and pioneers in providing Islamic banking services.

“I would like to thank the bank and ICD, as without them we couldn’t have reached this historical milestone. We welcome Trustbank to our ICS BANKS community, and salute them for achieving this milestone, as it takes courage to be the first bank in Uzbekistan to lead in launching Islamic Banking Window.”

Trustbank is one of the leading banks of the Republic of Uzbekistan, which provides its clients with a full range of banking products and services.

The history of the bank reflects the dynamics of intensive development of the country’s banking sector during the years of independence.

Trustbank will leverage ICS BANKS Islamic’s agile software solutions including Islamic Core banking, Murabaha, Ijarah, Mudaraba, Musharaka, Salam, Qard Hassan, Islamic Treasury and Investment, Trade Finance, Credit Facilities & Risk Groups, Istina’a and Parallel Istisna’a, Profit Distribution, and Time Deposit.

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 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 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 on the cloud.

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BANKING

Access Bank Officially Launches Operations In South Africa

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Mr. Herbert Wigwe, CEO, Access Bank Plc

Access Bank Plc officially launched in South Africa on Monday and took another step in furthering its footprint across the African continent.

Access Bank chief executive Herbert Wigwe said in a statement that the Southern African Development Community represented the strongest economy in Africa, according to a report in IOL.

The Nigeria-listed Access Bank is a leading full-service commercial bank operating through a network of more than 600 branches and service outlets, spanning three continents, 12 countries and 31 million customers.

It employs 28,000 people in its operations in Nigeria and has subsidiaries in sub-Saharan Africa and the UK, with a branch in Dubai, United Arab Emirates, and representative offices in China, Lebanon and India.

Following a merger with Diamond Bank in March 2019, Access Bank, with more than 900,000 shareholders, became one of Africa’s largest retail banks by retail customer base.

Wigwe said the opening in South Africa meant Access Bank SA was now firmly seated in one of the principal geographical areas apart from Nigeria, in terms of the size of the economy.

Highlighting Access Bank’s presence in Zambia, he said the opening of the South African subsidiary cemented the bank’s commitment to sub-Saharan Africa as a portal for banking opportunities across the continent.

Access Bank SA chief executive, Bennie van Rooy said Monday was “an exciting event for the South African banking industry”, and the provision of sustainable support to existing customers while appealing to new clients with a business presence across Africa.

“As part of the robust Access Bank family, the South African operations look forward to contributing meaningfully to the achievements and ambitions of the group. In offering a full suite of financial service products to a market we understand in-depth, Access Bank SA is delighted to grow the family footprint.”

Wigwe said the group’s focus was on building relationships, as a partner in businesses and in the communities it served. “It’s vital that our banking solutions give clients the advantage they need to grow sustainably, with access to smart solutions that help them reach greater goals.”

“With its transactional account and online banking, commercial and asset finance, offshore investments and foreign exchange requirements or deposit solutions, Access Bank put the power of choice in clients’ hands,” he said.

“We look forward to the opportunities that present themselves with opening doors for individuals and businesses, and growing possibilities as we go,” said Wigwe.

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BANKING

Bank Wars: Fidelity, Sterling Bank Thrash Union Bank At Tech Experience Centre

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Action in the inaugural edition of Bank Wars, a FIFA 21 Gaming competition for leading Nigerian banks, got underway in Group B on Saturday, May 15, 2021, as Sterling Bank and Fidelity thrashed rivals, Union Bank, to take charge of proceedings in the group.

Bank Wars is sponsored by the foremost Original Equipment Manufacturer, Samsung.

The event, hosted by the Tech Experience Centre, Africa’s cutting-edge technology and lifestyle hub located at Yudala Heights, 13 Idowu Martins Street, Victoria Island, Lagos, witnessed excitement on Saturday as participating banks battled hard for precious points.

In the day’s opening match, Sterling Bank thrashed Union Bank 10-7. The game, which kicked off by 1 pm, saw the Sterling Bank representative, Israel Emoitologa, a Software engineer dominate his Union Bank counterpart, Oluwaseyi Ayoade, a Graphics designer, to grab all three points at stake.

Meanwhile, the second game between Fidelity Bank and Guaranty Trust Bank (GTB) did not hold, as GTB failed to show up, thereby resulting in a walkover, with three points and three goals awarded to Fidelity. The same applied to Sterling Bank who were expected to play GTB in the day’s third game.

Nevertheless, the action returned to the screen for eager fans in the final game of the day, as Fidelity Bank pipped Union Bank 3-2, with Nathan Goodluck, a Media Executive, running the show for the victorious side.

The day’s proceedings ended with Fidelity and Sterling Bank occupying the joint top position in Group B, with six points apiece. However, Sterling Bank has a better goal difference, making them outright group leaders.

Union Bank, which lost its first two matches and GTB, which failed to show up for their encounters, occupy the third and final position respectively.

A few attendees at the event suggested that GTB may have been worried by the potential fire-power of the other teams in the group, thereby opting to beat a tactical retreat in order to avoid heavy defeats.

Earlier, Bank Wars had kicked off on Saturday, May 8 with goals-filled matches featuring the teams in Group A.

Access Bank got the ball rolling on the day with a 7-2 drubbing of First City Monument Bank (FCMB). In the second game, Standard Chartered Bank pipped Zenith Bank 4-3.

Taking to the FIFA 21 pitch in the third match in Group A, Access Bank cemented its place as one of the early favourites with an impressive 11-2 thrashing of Zenith Bank, while FCMB made up for its initial loss to Access Bank by beating Standard Chartered Bank 7-4.

The final round of group matches is scheduled for Saturday, May 22, 2021.

Access Bank which occupies the leadership position in Group A with six points, will be looking to confirm its place in the semi-finals as group leaders, as it takes on Standard Chartered Bank in the day’s first game by 1 pm.

Standard Chartered are third on three points and a win may see them draw level with Access Bank. In the day’s second game, fellow Group A contenders, First City Monument Bank (FCMB) will trade tackles with bottom side, Zenith Bank by 1:30 pm. A win for FCMB, who are second with three points, will also likely take them to the top of the group and on the verge of qualification, depending on how the first match pans out.

Also, hostilities in Group B will come to a head-on Saturday in a top-of-the-table clash between Sterling Bank and Fidelity Bank. Both sides have six points and excitement is bound to hit fever-pitch in what is potentially a winner takes all tie, with the victors guaranteed a place in the semi-finals. The match kicks off at 2 pm.

In the day’s final game, GTB will face off against Union Bank, with both sides looking to preserve their dignity after failing to record any points on the board so far.

Bank Wars is expected to run for five Saturdays until June 5, 2021, with winners of the FIFA 21 Gaming competition expected to smile home with some mouth-watering prizes, courtesy of Samsung.

A Samsung 55-inch TV awaits the first prize winner while the runner-up will go home with a massive Samsung Refrigerator.

Also, the third-best team will claim a Samsung Washing Machine. In addition, there are prizes for individual representatives of the competing teams while the best goal of the competition (to be determined by votes) will fetch the scorer a Samsung 49-inch TV.

 

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BANKING

Bank Wars: Access Bank, Standard Chartered, FCMB Off To Winning Start

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Visitors to the Tech Experience Centre, Africa’s cutting-edge technology and lifestyle hub on Saturday, May 8, 2021, were treated to exciting, high-scoring matches on the opening day of Bank Wars, a FIFA 21 Gaming competition featuring leading Nigerian banks.

Sponsored by Samsung, a foremost Original Equipment Manufacturer (OEM), Banks Wars seeks to crown the best side among the competing banks for the FIFA 21 tourney.

The first day of the event, hosted at the Tech Experience Centre, saw a number of excited spectators converge on the impressive building located at Yudala Heights, 13A Idowu Martins Street, Victoria Island, Lagos, to witness the banks in action.

As expected, the competing teams did not disappoint, serving up goals-filled matches to the delight of attendees as hostilities in Group A got underway.

Access Bank got the ball rolling on the day with a 7-2 drubbing of First City Monument Bank (FCMB).

The match, which was played at 1 pm, saw Olabamaji Emmanuel Ojo, an Assistant Banking Officer dominate his opponent, Taiwo Oluwafemi of FCMB’s Brand Management Unit to claim all three points at stake.

In the second game, Standard Chartered Bank pipped Zenith Bank 4-3. Representing the victorious team was Bajeh Israel, a Wealth Management Analyst, while Zenith Bank was represented by Abdulwahab Emmanuel, a Relationship Manager.

Taking to the FIFA 21 pitch in the third match in Group A, Access Bank cemented its place as one of the early favourites with an impressive 11-2 thrashing of Zenith Bank, while FCMB made up for its initial loss to Access Bank by beating Standard Chartered Bank 7-4.

From the results on the first day of the competition, Access Bank occupies the leadership position in Group A with six points, followed by FCMB and Standard Chartered Bank with three points each. Zenith Bank brings up the rear, with no point to its name after the first round of matches.

Meanwhile, all eyes will be on the quartet of Sterling Bank, Guaranty Trust Bank (GTB), Union Bank and Fidelity Bank in Group B on Saturday, May 15, 2021, which is billed as the second matchday of the competition.

In the day’s opening match, Sterling Bank will trade tackles with Union Bank by 1 pm.

Also, GTB and Fidelity Bank will do battle in the second game by 1:30 pm while Sterling Bank and GTB will contest the third game by 2 pm. The day’s action in Group B will come to a close when Fidelity Bank and Union Bank lock horns. The match is scheduled to kick off by 2:30 pm.

Bank Wars is expected to run for five Saturdays until June 5, 2021, with winners of the FIFA 21 Gaming competition expected to smile home with some mouth-watering prizes, courtesy of Samsung.

A Samsung 55-inch TV awaits the first prize winner while the runner-up will go home with a massive Samsung Refrigerator.

Also, the third-best team will claim a Samsung Washing Machine. In addition, there are prizes for individual representatives of the competing teams while the best goal of the competition (to be determined by votes) will fetch the scorer a Samsung 49-inch TV.

 

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