Ajman Bank first in Middle East to deploy SunGard integrated risk management framework
Ajman Bank, the first Islamic bank established in the Emirate of Ajman, announced today that it will become the first bank in the Middle East to deploy SunGard's integrated risk management framework. SunGard, one of the world's leading Risk & Performance Solutions supplier, will provide its comprehensive ERM system, which will optimise capital management, customer service and profitability, at Ajman Bank.
The Ambit Risk & Performance Management system uses analytics and risk metrics to assess each transaction based on the risk-adjusted returns and the impact on the bank's portfolio.
"As one of the UAE's leading financial institutions, we have put responsible financial practices at the core of Ajman Bank," said Mubashar H. Khokhar, Chief Executive Officer of Ajman Bank. "By partnering with SunGard, we will continue to be at the forefront of global risk management best practice, leading to significant benefits for customers and shareholders alike."
Andi Hug, General Manager for Ambit Risk & Performance Management, SunGard, added: "Ajman Bank is the first bank in the Middle East to deploy the full enterprise risk solution suite from SunGard. The implementation of Ambit Risk & Performance Management will help the bank better manage its capital by ensuring consistency between the bank's risk appetite and balance sheet structure, and ultimately improving customer service and profitability. We are very pleased to partner with Ajman Bank and extending our relationship across the emirate and the nation."
The partnership between Ajman Bank and SunGard was formally sealed at a signing ceremony at Ajman Bank's head office.
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