Military Credit Fund (MCF) Selects the Universal (ICS BANKS® Islamic) from ICS Financial Systems

Military Credit Fund (MCF) has signed with ICS Financial Systems (ICSFS), to deploy its universal system ICS BANKS® Islamic.
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Dec. 4, 2011 - PRLog -- Amman, Jordan: Military Credit Fund (MCF) has signed with ICS Financial Systems (ICSFS), one of the leading companies in the automation and computerization of banking systems to deploy its universal system ICS BANKS® Islamic.  ICSFS ‘banking systems are widespread at 32 countries, and implemented through Asia, Africa and Europe.

MCF chose ICS BANKS® Islamic as it is distinguished from the other systems. On the other hand, due to the success of ICSFS as a company that can provide high standard services and technologies, also providing necessary support to MCF in a short period of time. MCF will start operating ICS BANKS® Islamic System shortly at the first quarter of 2012.

The signing ceremony took place in Amman on 24 November 2011, at the head quarter office of the Military Credit Fund. Attending the signing ceremony were General Manager of MCF; HE Mr. Muhannad Shehadeh, Deputy General Manager; Brigadier Abdul Majid Al Abbadi , Director of Operations; Colonel Ali Al Madani, Managing Director of ICSFS; Mr. Robert Hazboun, Executive Director of Research and Development of ICSFS; Mr. Tariq Safarini , and Senior Territory Manager of ICSFS, Mr. Jamal A. Dweik.

General Manager of MCF; HE Mr. Muhannad Shehadeh stated:
“MCF was established after His Majesty King Abdullah initiative to launch financial specialized institution for the Jordan Armed Forces and Security Apparatus to meet their financial needs. MCF seeks to provide distinct banking services and to keep pace with local and global financial technologies. We chose the universal ICS BANKS® Islamic to strengthen the institution’s capacity in order to launch an Islamic products and services to serve our customers with professionalism and ease.”

Mr. Robert Hazboun; Managing Director of ICSFS said:
“We have been improving our universal solutions to service all the financial and banking sectors, and to provide it with a complete suite of banking systems for many years. As many banks and financial institutions today looking to introduce Islamic banking window, we at ICSFS provides the Market with the latest technology solution (ICS BANKS® ISLAMIC). ICSFS has witnessed our customers’ growth in Information Technology needs throughout these years. We welcome MCF for selecting our ICS BANKS® ISLAMIC family reference and users, and are proud to serve them as their technology partner.” Finally, he stressed that the company continues to expand around the world.

This new agreement for ICSFS makes MCF the 13th user of ICS BANKS in Jordan and 70th worldwide.

ICS BANKS® provides a complete suite of banking business modules with a rich sweep of functionality and features, addressing business needs and automating accounting processes, as needed, to improve a bank’s business performance. ICS BANKS® has always been a pioneer in utilizing the latest technology to serve financial institutions. In addition to its embedded Service-Oriented-Architecture (SOA), the system is deployed in a multi-tiered setup that runs on a web thin client, J2EE environment.


Military Credit Fund (MCF):  is an initiative launched by His Majesty King Abdullah for the Jordan Armed Forces and Security Apparatus on 1th of November 2010. It aims to help finance housing and other living expenses needed by this bracket. The initiative comes in line with the King’s commitment to improve military and security personnel’s living conditions, adding that the credit fund offers housing and personal loans.

About ICS Financial Systems Ltd. - (ICSFS): sister company of Computer and Communications Systems Ltd. - (CCS) and International Computer Systems (London) Ltd – (ICS-London) ,is a leading provider of modular, core banking systems. ICSFS’ success can be attributed to our turnkey offering, ICS BANKS® that serves and supports customers across the globe. ICS BANKS® is a fully integrated universal, banking application that deploys a solution and a range of professional services to automate and streamline banking services.
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