Dubai bank chooses Nasdaq for GRC
28 July 2016 Dubai
Image: Shutterstock
Dubai Islamic Bank has opted for Nasdaq’s Bwise enterprise governance, risk management and compliance (eGRC) solution.
The BWise platform includes software solutions for risk management, information security, internal auditing and sustainability performance management.
It is intended to help firms understand, track and measure their organisational risk, allowing them to better balance performance with financial and reputational risk.
Dubai Islamic Bank will use it to support its compliance and internal control processes, and to get a better view into its overarching control frameworks.
The service can also compile and present risk reports to the board and senior management, as well as to regulators.
Mohamed Abdulla Al Nahdi, deputy CEO at Dubai Islamic Bank, said: "We were searching for an eGRC solution that enables us to enhance and strengthen our risk management practices throughout the organisation."
"Nasdaq BWise was selected because of its user friendliness in one integrated GRC platform. In this way the compliance, risk and internal control departments will all have access to the right information from one single source."
Rob van Straten, global head of sales and professional services at Nasdaq BWise, added: "[Dubai Islamic Bank’s] approach to risk management is mature and sophisticated and requires a robust but flexible eGRC software platform to comply with regulations and industry standards.”
The BWise platform includes software solutions for risk management, information security, internal auditing and sustainability performance management.
It is intended to help firms understand, track and measure their organisational risk, allowing them to better balance performance with financial and reputational risk.
Dubai Islamic Bank will use it to support its compliance and internal control processes, and to get a better view into its overarching control frameworks.
The service can also compile and present risk reports to the board and senior management, as well as to regulators.
Mohamed Abdulla Al Nahdi, deputy CEO at Dubai Islamic Bank, said: "We were searching for an eGRC solution that enables us to enhance and strengthen our risk management practices throughout the organisation."
"Nasdaq BWise was selected because of its user friendliness in one integrated GRC platform. In this way the compliance, risk and internal control departments will all have access to the right information from one single source."
Rob van Straten, global head of sales and professional services at Nasdaq BWise, added: "[Dubai Islamic Bank’s] approach to risk management is mature and sophisticated and requires a robust but flexible eGRC software platform to comply with regulations and industry standards.”
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
.jpg)