Media Centre

04 December 2016

Zain Bank opens its doors to customers

Zain Bank is pleased to announce that it has officially opened its doors to clients at its main branch in Baghdad. Located at Arasat Alhindiya, the main branch will offer individuals and businesses a wide range of banking products that have been tailoured to meet the needs of the Iraqi market. Commenting on the opening of its first branch in Baghdad, Zain Bank’s Managing Director said: “We are pleased to have opened our doors in such a short period of time since receiving our banking license from the Central Bank of Iraq, and look forward to start offering our innovative banking products to the Iraqi market.”
01 December 2016

Zain Bank activates RTGS and ACH systems

In the run-up to the anticipated opening of its main branch in Arasat Alhindiya, Baghdad, to its clients, Zain Bank is pleased to announce that it has activated the Real Time Gross Settlement (RTGS) system. The Bank has sent its employees on training sessions with the Central Bank of Iraq to be ready to use these systems as soon as possible. The Bank views this as an important step in its preparation to open its doors in the next few days.
17 October 2016

Zain Bank connects to SWIFT

Zain Bank is pleased to announce that it has initiated the process to connect to SWIFT via the Allied Engineering Group (AEG). The Bank is currently in the process of setting up its connection and training its employees on how to use SWIFT. Since receiving its banking license in August 2016, Zain Bank has taken significant steps to ensure that it is ready to achieve its goal to open its doors before the end of the year.
27 September 2016

Zain Bank issues RFP for core banking system

Zain Bank is pleased to announce that it has issued a Request for Proposal (RFP) for a core banking system. The Bank issued the RFP to a selected number of leading core banking system providers with experience in providing best-in-class technology for Islamic banking products. The deadline to respond to the RFP has been set to October 31, 2016 and the entire selection process is expected to take several months. Through this RFP process, Zain Bank is committed to choosing a long-term technology partner able to support the Bank in its ambition to provide modern banking services through multichannel delivery.

The Bank has engaged Ideal Payments to lead and manage its RFP process. Ideal Payments is a financial services advisory and consulting firm headquartered in Baghdad, Iraq. Ideal Payments will assist the Bank with all aspects of its IT strategy and will be responsible, together with the Bank, for evaluating bids and selecting the service provider during the RFP process.