Jan 15 2012 |
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Gulf Bank Successfully Completes the Implementation of Enterprise Risk Management System with SunGard
Bank's risk function world class and in compliance with the Central Bank of Kuwait's regulations
Gulf Bank 's use of SunGard's system will be for five separate risk management streams, namely, Capital Computation under Basel II for credit, market and operational risks, Asset Liability Management (ALM) & Funds Transfer Pricing (FTP), Market Risk Management, which covers the banking and trading books, and Operational Risk Management.
Mr. Saleem Sheikh, Chief Risk Officer and General Manager of Risk Management at Gulf Bank said: "We are delighted to be the first Bank to implement the full suite of SunGard's Enterprise Risk Management system, and even more delighted that we have done so on schedule. It has proved to be a challenging task but through the dedication, commitment and hard work of several individuals in the project team we were able to complete it on time. I would like to extend my thanks and gratitude to all those responsible for this success as it is an important milestone for us as at Gulf Bank and it raises the bar in Risk Management standards in Kuwait.
Commenting further, he stated that the implementation at Gulf Bank was one of the fastest and the best that their team had seen in the region.
Overall, every aspect of this system is designed to assist Gulf Bank continue to deliver superior banking solutions and services, which are being constantly tailored to cater to the needs of its wide customer base. It reflects the success of the Bank's disciplined business strategy across all its key business groups instilling a greater chance for future growth and prosperity throughout the consumer, corporate, international and investment banking sectors.
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© Press Release 2012
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