Wolters Kluwer to power asset and liability management for alizz islamic bank

Source: alizz islamic bank. Ghalib.

Alizz islamic bank has signed up to use Wolters Kluwer Financial Services’ OneSumX solution for Asset and Liability Management (ALM). The bank will use the risk solution for balance sheet modelling, risk measurement, risk management and regulatory compliance.

Alizz islamic bank, which provides retail and corporate finance services, will use Advanced Financial Solutions as its partner for the implementation of the Wolters Kluwer Financial Services offering. A subsidiary of Midis Group, Advanced Financial Solutions specialises in providing software solutions and consulting services for financial institutions in the Middle East, North Africa and Turkey.

“We spoke to several vendors and chose the Wolters Kluwer Financial solution, based on its ability to provide a suitably robust ALM framework for the bank,” said Ghalib Al Busaidi, Chief Financial Officer of alizz islamic bank.

“Furthermore, the reputation of Advanced Financial Solutions has been very good as the firm has successfully implemented several solutions for financial institutions over the years. We look forward to working with them to implement the OneSumX solution for ALM. This is an important investment for us and demonstrates our commitment to ensuring an effective and strong risk management culture.”