Dubai, UAE: ruya bank has partnered with specialist analytics and risk management consultancy 4most to design and implement its IFRS 9 Expected Credit Loss (ECL) framework, supporting the bank’s initial portfolio launch and strengthening its credit risk governance capabilities.

The engagement covers the development of IFRS 9 models across retail, SME and corporate portfolios, alongside a flexible Excel-based ECL solution designed to support seamless onboarding of additional portfolios over time. The framework includes full model documentation, knowledge transfer sessions, executive presentations, and support in responding to validation, audit, and regulatory queries.

In addition to model development, 4most is providing ongoing support for the execution of ruya’s ECL processes over a 12-month period. This includes quarterly production of ECL numbers, onsite support from 4most’s Head of Analytics to ensure all inputs are received, and presentation of results at governance committees to enable approval and completion of the end-to-end ECL process. 

As ruya bank expands its product offering, the framework has been designed to evolve alongside the business, with provision for updating models and documentation for newly launched portfolios, ensuring continued alignment with IFRS 9 requirements and regulatory expectations.

The partnership reflects ruya bank’s commitment to building robust, transparent credit risk processes from inception, combining strong technical foundations with practical execution capability.

Mohamed Siddique Lair, Head of Risk, from ruya commented: “Our collaboration with 4most has been instrumental in establishing a solid IFRS 9 ECL framework as we grow our portfolio. Their pragmatic approach, deep technical expertise, and hands-on support have helped us implement models and processes that are both regulator-ready and operationally efficient.

“The knowledge transfer and governance support provided by the 4most team have ensured our internal stakeholders are fully equipped to manage ECL on an ongoing basis.”

Jarred Lloyd, Head of Analytics, from 4most added: “We’re proud to support Ruya Bank on this important phase of their journey. Establishing IFRS 9 capability early, with scalable models and clear governance, puts banks in a strong position as portfolios evolve. Our focus has been on delivering a practical ECL framework that combines regulatory rigour with real-world usability.”

About 4most

4most is a trusted specialist analytics consultancy focused on credit risk, insurance, data, and market risk. With offices across the Middle East, the UK and Europe, and over 300 employees, 4most supports financial institutions with model development, validation, risk frameworks, and regulatory change. The firm was named among the Financial Times’ Europe’s Fastest Growing Companies and was awarded Best Digital Transformation Consultancy Firm at the 2024 MEA Finance Banking Technology Awards.

For 4most media enquiries email e.procter@rostrum.agency

www.4-most.co.uk

About ruya (رويا)

Headquartered in Ajman and launched in 2024, ruya (Ruya Islamic Community Bank LLC) is a fusion of innovative technology and the enduring principles of Islamic banking, designed for individuals and businesses alike. Licensed by the Central Bank of the UAE as a Specialised Bank, ruya delivers a seamless digital banking experience built on robust security and intuitive design. Guided by the pillars of fairness, transparency, and social responsibility, ruya is deeply rooted in the community supporting families, entrepreneurs and small businesses while fostering financial literacy and inclusion through open-door branches that serve as hubs of education and support. ruya is also proud to be Great Place to Work® Certified, a testament to its inclusive culture and employee-first values.

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