Nasdaq BWise GRC Platform Selected by Dubai Islamic Bank for Risk, Compliance and Internal Control
July 28 2016 - 3:00AM
Nasdaq BWise (Nasdaq:NDAQ), a global leader in enterprise
Governance, Risk Management and Compliance (GRC), announced today
that it has been selected by Dubai Islamic Bank, the largest
Islamic bank in the United Arab Emirates, to support and further
enhance their risk management, compliance and internal control
processes gaining a deeper and more real-time visibility into their
risks and overarching control frameworks.
“We were searching for an eGRC solution that enables us to
enhance and strengthen our risk management practices throughout the
organization,” said Mr. Mohamed Abdulla Al Nahdi, Deputy CEO at
Dubai Islamic Bank. “Nasdaq BWise was selected because of its user
friendliness in one integrated GRC platform. In this way the
compliance, risk and internal control departments will all have
access to the right information from one single source.”
“We are pleased to have been selected by Dubai
Islamic Bank to help in further enhancing their GRC practices,”
said Rob van Straten, Global Head of Sales and Professional
Services, Nasdaq BWise. “Their approach to risk management is
mature and sophisticated and requires a robust but flexible eGRC
software platform to comply with regulations and industry
standards, such as ISO. Our global expertise in deploying eGRC
software in the financial services industry provides Dubai Islamic
Bank with a first-class GRC solution, supported by the Arabic
language capabilities in BWise.”
The BWise® GRC platform will support Dubai
Islamic Bank to continue monitoring and managing its risks, compile
and present reports for the board, senior management and regulatory
authorities. The platform provides a holistic approach to risk
management with more assurance, lower risk profiles, and reduction
in the overall costs. By implementing one common risk taxonomy,
Dubai Islamic Bank is ensured that policies and strategic
objectives towards risk management are achieved.
About Nasdaq BWise Nasdaq BWise is a global
leader in Enterprise Governance, Risk Management and Compliance
(GRC) software. Based on a strong heritage in business process
management, the BWise® GRC Platform provides companies with
highly-rated, proven software solutions for Risk Management,
Internal Control, Internal Audit, Compliance & Policy
Management, Information Security and Sustainability Performance
Management.
BWise’s end-to-end solutions support an organization’s ability
to understand, track, measure, and manage key organizational risks.
Nasdaq BWise helps companies truly be in control by balancing
performance with their financial and reputational risks, improving
corporate accountability, increasing financial, strategic and
operating efficiencies. Using BWise, organizations are able to
efficiently comply with anti-corruption regulations like FCPA and
the UK Bribery Act, the Sarbanes-Oxley Act, European Corporate
Governance Codes, ISAE3402/SAS-70, PCI-DSS, Solvency II, Basel II
and III, Dodd-Frank, ISO-standards, and many more.
Nasdaq BWise sales, service and support offices around the globe
provide for the GRC needs of hundreds of leading companies
worldwide. For more information, visit www.bwise.com.
About Dubai Islamic Bank:
Dubai Islamic Bank (DIB), established in 1975, is the first
Islamic bank to have incorporated the principles of Islam in all
its practices and is the largest Islamic bank in the UAE. DIB is a
public joint stock company, and its shares are listed on the Dubai
Financial Market. The bank enjoys a reputation as a leader and
innovator in maintaining the quality, flexibility and accessibility
of its products and services. The bank currently operates 90
branches in the UAE.
DIB has been proactive in creating partnerships and alliances at
both the local and international level. The bank has established
DIB Pakistan Limited, a wholly owned subsidiary which has a network
of more than 200 branches across 62 major cities in Pakistan. DIB
has also started operations in Jordan, with the establishment of
Jordan Dubai Islamic Bank, and in 2015, it received regulatory
approval to increase its shareholding in PT Bank Panin Syariah in
Indonesia to 40 percent.
NDAQG
For Media Inquiries:
Nasdaq:
Ryan Wells
ryan.wells@nasdaq.com
Direct: +44 (0) 20 3753 2231
Mobile: +44 (0) 7809 596 390
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