Islamic Banks \'Need Advanced Risk-Management Tools\'
As part of its strategy to produce innovative tools, Abu Dhabi Islamic Bank (ADIB) is developing its asset and liability management (ALM) software in-house, the Gulf News reported.
An ADIB official was quoted by the daily as saying that this will be the first ALM application tailored for an Islamic bank.
ADIB may market this product since it can be used throughout the banking industry to assess and manage risk, he said. "The application will also use a variance/co-variance approach to statistically estimate how much shareholder value will diminish," Ken Baldwin, ADIB's ALM manager told the paper.
He said the in-house design of an ALM application will allow the bank to continuously up-grade and improve its ALM concepts and management information system as its requirements change -- Albawaba.com
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