CIB Egypt deploys SAS risk management and anti-money laundering platforms

Largest private bank in Egypt to run SAS Enterprise Risk Management and Anti Money Laundering solutions

Enterprise Risk Management solution ensures that the bank is leveraging global standards in tracking its various risk types.
Enterprise Risk Management solution ensures that the bank is leveraging global standards in tracking its various risk types.

Commercial International Bank – Egypt (CIB), the largest private sector bank in Egypt- has deployed SAS Enterprise Risk Management (ERM) and Anti Money Laundering (AML) solutions.

The deployment will enable the bank streamline its risk management processes and adhere to local regulations and global standards for monitoring, reporting and control.

At the signing, Talha Karim, head of risk management, Risk Group at CIB said “The implementation of the SAS Engine for Credit, Market, and Operational Risk is aligned with CIB’s strategic ERM initiative with the objective of a holistic and forward-looking approach to Risk Management, coupled with a robust Risk Appetite and Risk Culture framework.”

The deployed Enterprise Risk Management solution ensures that the bank is leveraging global techniques and standards in tracking its various risk types, including operational risk, market risk, as well as credit risk, while providing business intelligence and simulation mechanisms for better insight-driven decisions.

“The overall goal was to help CIB to effectively determine and manage the overall level of risk and compliance challenges” said Alaa Youssef, managing director, Middle East at SAS. “Having a thorough understanding of CIB’s business environment, and strategic roadmap, SAS is pleased to have enabled the bank to empower their processes with timely data-driven decisions while strengthening the needed capabilities with its ERM and AML platforms to provide the best value to all its stakeholders.” 

SAS AML solution further strengthens CIB’s capabilities for proper identification of unusual transactions and activities to manage the bank’s compliance risks.

Abla Khairy, chief compliance officer at CIB said, “With the deployment of this solution, we believe that the implementation of the SAS AML Engine will guarantee proper management of compliance and apply a risk based approach which will assist to safeguard the bank’s reputation and avoid any adverse actions of non-compliance”.

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