By John Lee.
First Iraqi Bank (FIB), a newly established digital bank in Iraq, has reportedly selected the ICS BANKS digital banking platform from ICS Financial Systems Limited (ICSFS), to start its operations in Baghdad, Iraq.
Shaymaa Ali Hussein, Managing Director of First Iraqi Bank said:
"The need for a digital bank in Iraq today is long overdue since it is [pre]dominantly a cash society ... We shall aim to provide Iraqi citizens with innovative, convenient, secure and affordable banking services and solutions."
Wael Malkawi; Executive Directive of ICSFS, said:
"Digital banking is the new norm now, as many customers around the world are choosing digitised over traditional banking services, especially with the lock-down and social distancing we are experiencing right now."