Press Release

FIRST BAHRAINI IT COMPANY LAUNCHES ITS
RISK MANAGEMENT SOLUTION
IN THE GULF AND SOUTHEAST ASIA

Digital Business Solutions W.L.L., (DBS) a Bahraini information technology company has launched its Credit Risk Management System (CREAM) in Pakistan and Bangladesh after its initial launch in the Middle East.

During the CREAM launching, a Risk Management Seminar was conducted by DBS in Bangladesh that was organized by Bangladesh Association of Banks in coordination with Axiom Technologies (DBS Channel Partner) and chaired by the Finance Minister of Bangladesh, Mr. Saif ur Rehman. Present on the occasion were the Bangladesh Central Bank Governor Dr. Fakhruddin Ahmed and two Deputy Governors. The Seminar was attended by the senior management of 35 Bangladesh commercial banks.

Presenting the Risk Management and the dire need for its automation, Anwar Lutfullah stressed that it is imperative that end to end risk management solutions are implemented by banks thus automating pre and post granting aspect of risk management. He was further of the view that banks must gear themselves up for the implementation of Basel II (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 banks is imperative to implement any serious risk management initiative, he said.

The Finance Minister and the Central Bank Governor thanked Mr. Anwar Lutfullah, Chief Executive, DBS for his presentation and emphasized the need for better risk management in banks. The Finance Minister said that risk management in banking is as basic a need as grammar in English language and it must be filtered down through the Board of Directors of banks. The Governor also emphasized the need for improved risk management to ensure soundness and increased productivity in the country’s financial system.

DBS will further launch its Credit Risk Environment Administration and Management (CREAM) solution in other markets including European and North American countries.