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Egypt : FAISAL taps SUNGARD s risk management suite

August 14, 2014

The first Islamic bank in Egypt, Faisal Islamic Bank of Egypt has selected SunGard s risk management suite so as to boost its operational apparatus.

Faisal will make use of the products to support with Basel compliance and reporting, in addition to strengthening its ability to measure and manage exposures.

Mohammed Abdulalim, sector head of risk management at Faisal Islamic Bank of Egypt stated: As a pioneer of Islamic banking in Egypt, when evaluating our risk and compliance requirements, we wanted to implement a solution that would help enhance not only our compliance capability but our competitiveness in this market.

SunGard provides us with a fully comprehensive solution suite underpinned by global and local best practice and standards. We hope that the company's strong footprint in the Middle East and proven implementation success in Islamic finance will be key to helping us improve our risk management practices, particularly with the automated measurement of regulatory capital for Basel compliance in credit, market and operational risk.

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Source: TendersInfo (India)

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