Dubai Aluminium selects SunGard's AvantGard for treasury and risk management
- United Arab Emirates: Saturday, October 06 - 2012 at 13:44
- PRESS RELEASE
Dubai Aluminium (DUBAL), one of the world's largest single site aluminum smelters and the industrial flagship of the United Arab Emirates, has selected SunGard's AvantGard Treasury (Quantum) for treasury management and hedge accounting. The solution will also help DUBAL manage foreign exchange, interest rate and commodity risk.
SunGard's AvantGard Treasury (Quantum) will complement DUBAL's enterprise-wide risk management initiative through integration with SAP Exposure Management for the identification of commodity and foreign exchange exposures.
Corporate treasurer and chief risk officer at DUBAL, Toby Shore, said: "We sought a treasury management system (TMS) to help us mitigate financial risks and address security concerns resulting from the use of spreadsheets. We chose SunGard because its system provided this as well as being easy to integrate; and also because of SunGard's strong reputation in the Middle East. The flexible, configurable reporting capabilities of SunGard's AvantGard Treasury (Quantum), its complete coverage of complex instruments required for hedging, and its ability to accommodate our need for SAP-integrated risk management were also deciding factors."
Wissam Khoury, managing director of SunGard Middle East said: "DUBAL's treasury modernization project aligns with the roadmap of many corporate treasury teams across the Middle East who share the goal of automation and centralization. To achieve these goals, it's imperative for treasuries to partner with solution providers that understand the regional and cultural nuances of the Middle East and who have a strong local presence. DUBAL joins a growing list of customers in the region who recognize the value of SunGard's AvantGard treasury solutions and its expertise."
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of Mediaquest FZ LLC. Mediaquest FZ LLC is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.