Faisal Selects SunGard for Risk Management

The first Islamic bank in Egypt, Faisal will use the products to assist with Basel compliance and reporting, as well as bolstering its ability to measure and manage exposures.

"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," says Mohammed Abdulalim, sector head of risk management at Faisal Islamic Bank of Egypt. "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."