Dubai Bank launches state of the art treasury system

Dubai Bank has chosen a combination of Reuters Kondor+, Kondor Trade Processing and Kondor Global Limits technology to provide integrated front to back office risk management, a complete treasury solution which offers a sophisticated and flexible means of identifying, measuring and managing financial risk.

Commenting on the alliance, Mr. Ahmed Binbrek, Chief Executive Officer, Dubai Bank said: "We are delighted to be joining forces with Reuters and the introduction of this new system illustrates the bank's commitment to introducing fast and flexible financial solutions through alliances with the best in breed service providers."

The Reuters technology also supports the pricing and processing of a wide range of financial market products. This will help Dubai Bank's treasury team make informed decisions whilst managing the financial exposure of the trading room's activities as well as advising on the associated risks to the customer.

Mr. Biswajit Dasgupta, Head of Treasury, Dubai Bank added: "Plain-vanilla treasury solutions offer limited scope for adding value to the customer. The focus of our Treasury business will be to work with customers, taking into account factors like internal hedges, cash flows and risk-appetite, and come up with customised solutions that are tailored to fit their specific requirements. The strong support provided by the Reuters systems will significantly improve our delivery capabilities."

More than 500 financial institutions around the world - including 20 banks in the Middle East region - have chosen Reuters Trade and Risk Management products to help manage their markets' risks. Reuters' employs a comprehensive team of experts based in 16 Reuters offices in the region to support its offering.

"Reuters is committed to providing the financial community in the region with the most advanced information, transaction and risk management systems, designed to put them on par with their counterparts in the world's financial capitals," concluded Mr. Jean Marc Paufique, Reuters Senior Company Officer for Middle East and North Africa.