Nasdaq BWise GRC Platform Selected by Dubai Islamic Bank for Risk, Compliance and Internal Control
(Thomson Reuters ONE) -
NEW YORK & DUBAI, United Arab Emirates, July 28, 2016 (GLOBE NEWSWIRE) -- 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(at)nasdaq.com
Direct: +44 (0) 20 3753 2231
Mobile: +44 (0) 7809 596 390
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Nasdaq via GlobeNewswire
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