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KARACHI (February 28
2003) : The Digital Business Solutions W.L.L, (DBS) a Bahraini Information
Technology Company has launched 'Credit Risk Management System' (Cream) in
Pakistan and Bangladesh after its initial launch in the Middle East.
A statement issued here on Thursday said that during the launching of Cream,
a seminar on risk management was conducted by the DBS in Bangladesh, which was organised by the Bangladesh Association of Banks in
co-ordination with Axiom Technologies (DBS Channel Partner) and chaired by
Bangladesh Finance Minister Saif-ur-Rehman.
Digital Business Solutions W.L.L Chief Executive Anwar Lutfullah stressed
that it was imperative that end to end risk management solutions were
implemented by the banks, thus, automating pro- and post-granting aspect of
the risk management and the risk management was the dire need for its automation.
He said the banks must gear themselves up for the implementation of base (The
New Capital Adequacy Accord) and, therefore, must enhance and upgrade risk
infrastructure, readiness and data within their institutions.
A positive risk culture within a bank was imperative to implement any serious
risk management initiative, he added.
The finance minister and the governor of the Central Bank of Bangladesh, Dr Fakhruddin Ahmed appreciated Anwar Lutfullah for his
presentation and emphasised the need for better
risk management in the banks.
The finance minister said that risk management in banking was as basic as
grammar in English language and it must be filtered down through the board of
directors of the banks.
He also emphasised the need for improved risk
management to ensure soundness and increased productivity in the country's
financial system.
The DBS will further launch its Credit Risk Environment Administration and
Management (Cream) solution in other markets, including European and North
American countries.
The seminar was attended by the senior management of 35 Bangladeshi
commercial banks, including the Bangladesh Central
Bank Governor Dr Fakhruddin
Ahmed and two deputy governors.
Copyright 2003 Business Recorder (http://www.brecorder.com)
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