NEW YORK & DUBAI, United Arab Emirates, Jul. 28 (Korea Bizwire) — 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.
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Source: NASDAQ, Inc. via GLOBE NEWSWIRE