One of the Kingdom's first banks to receive audited ISO 27001 Certification
Manama, Bahrain - Futurebank, a Bahrain-headquartered full commercial bank, has received the prestigious ISO 27001 certification. The certification signifies that Futurebank's IT operations conform to the Information Management System Standard - ISO/IEC 27001:2005.
Futurebank is one of the first banking institutions in the Kingdom to have compliance to ISO 27001 standard, audited by TÜV SÜD South Asia, which is a subsidiary of Germany- based TÜV SÜD Group. The ISO 27001 certification is the foremost international standard for information security management systems.
The certification scope covers Management of Information security for providing Infrastructure Setup and Support, Application Support and Maintenance, Backup, Helpdesk, Network Management, and System Administration.
Futurebank Chairman Dr. Hamid Borhani and Chief Executive Officer Dr. Valiollah Seif received the certificate on behalf of the bank, during Futurebank's first Board of Directors meeting of 2009.
Dr. Hamid Borhani Chairman, Futurebank said "Receiving the ISO/IEC 27001:2005 certification is a milestone achievement for the bank and underlines Futurebank's commitment to excellence and to adhering to world- class Information Security standards."
Dr. Valiollah Seif, Chief Executive Officer and Managing Director, Futurebank said, " Our employees realise the paramount importance of information security in the banking industry and this validation from the TÜV SÜD Group further reinforces our ability to deliver secure banking services to our valued customer base."
"The certification and audit was performed in a highly efficient and timely manner and I would like to recognise the efforts of our skilled IT Department who played a pivotal role in this process," added Dr. Seif
Mr. Hossein Rezaee, Head of IT said, "Futurebank is dedicated to providing the highest quality of products and services to its customers and the implementation of this world- renowned certification will further reassure our customers about the high calibre of the systems we have in place to safeguard their information with us."
ISO/IEC 27001:2005 specifies the requirements for establishing, implementing, operating, monitoring, reviewing, maintaining and improving a documented Information Security Management System within the context of the bank's overall business risks. The certification is designed to ensure the selection of adequate and proportionate security controls that protect information assets.
TÜV SÜD conducted the audit in two specific stages. Stage One involved a review of all Futurebank security and risk related documentation including the Statement of Applicability (SoA) and Risk Treatment Plan (RTP). Stage Two included a detailed audit and testing of the effectiveness of the information security controls stated in the SoA and RTP.
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About Futurebank
Futurebank is a full commercial bank as approved by the Central Bank of Bahrain (CBB). The Bank has its headquarters in Manama, Bahrain and was established on 1 July 2004 as a Joint Venture Project between Bank Saderat Iran, Bank Melli Iran and Ahli United Bank (AUB) Bahrain.
Established with the support of the Central Bank authorities in both Bahrain and Iran, Futurebank has continued to build upon its core strength of aligning the vast multi-market potential of the national economies which it inherently represents, providing its clients with rapid access to these markets, along with world-class financial services.
Focusing primarily in wholesale investment banking, Futurebank targets the financial flows between Iran and the GCC countries. The bank seeks to channel debt and equity capital from the GCC into Iran in either conventional or Sharia compliant structures. Additionally, the bank has been granted the first domestic currency full commercial banking license issued to a foreign bank in Kish Island, Iran, where it hopes to commence operations soon.
The bank currently has three branches and an Offshore Banking Unit in Bahrain. The bank is registered in Bahrain and regulated by the Bahrain Monetary Agency.
About TÜV SÜD Group
TÜV SÜD is a major international service group operating in the INDUSTRY, MOBILITY and PEOPLE business segments. With 13,300 staff, we are represented at over 600 locations worldwide. Our teams of specialists are engaged in optimizing technology, systems and know-how, and thus act as process partners, enhancing the competitive strength of our customers throughout the world.
Staffed by local experts and powered by German expertise, TÜV SÜD in the Asia Pacific region provides the entire range of TÜV SÜD Group services in 70 offices and several test facilities in China, Hong Kong, India, Japan, Korea, Malaysia, The Philippines, Taiwan, Thailand, and Vietnam as well as in the Middle East. Holding accreditations for market access in Europe, The Americas and Asia Pacific, TÜV SÜD in Asia Pacific provides one-stop shopping to secure fast and efficient international standard compliance and management system certification.
For more information, please contact:
Rohan Shanker
Account Executive
Action Bahrain
P.O Box 21806
Manama, Kingdom of Bahrain
Tel: +973 17 234553
Fax: +973 17 234557
Email: rohan.s@actionprgroup.com
© Press Release 2009
