First Gulf Bank, a financial institution in the United Arab Emirates (UAE), has selected SunGard for a full risk management framework for capital calculations and Basel II compliance.
First Gulf Bank will use SunGard’s BancWare for regulatory capital calculation and reporting requirements, Basel II compliance and asset/liability management (ALM) to help it to measure and manage balance sheet interest and foreign exchange rate risk.
SunGard’s Adaptiv will provide market risk management for off-balance sheet issues. The integrated application will help First Gulf Bank achieve an enterprise-wide view of its risk exposures.
“Our growing business, increased exposure and increased regulatory requirements have created the need for a risk management solution,” says Arif Shaikh, chief risk officer for First Gulf Bank. “By providing an integrated solution for Basel II and risk management, SunGard will help us expand our on- and off- balance sheet risk management capability and help us to produce regulatory compliant reporting that meets the requirements of both the Basel accord and the Central Bank.”