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Calculating Private Firm Credit Risk
Learn about quantifying default risk of privately held firms and monitoring the risk of private exposures/investments.
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Do You Have a Complete View of Counterparty Risk Across Your Commercial Loan Portfolio?
Learn about improving the effectiveness and accuracy of your origination decisions and analyzing your commercial real estate (CRE) exposure risk.
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Economic Captial Matters: 5 Key Strategies for Managing Your Credit Portfolio
Learn more about best practices for managing a credit portfolio, including managing concentration risk through diversification, risk-based pricing and more.
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Improving Loss Given Default Accuracy
Learn about alternatives to one-dimensional historical look-up table recovery values and the impact of LGD on loan loss reserves and capital allocation.
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Sharjah Islamic Bank adopts Fermat’s Integrated Risk Management Solutions
United Arab Emirates, July 2008 &mdahs; Fermat, a leading provider of integrated risk and performance management solutions for the global financial services industry, has been selected by Sharjah Islamic Bank (SIB).
The implementation will incorporate software applications and systems including Fermat CAD (Capital Adequacy Directive) Basel II, Fermat CAD Regulatory Reporting Tool, Fermat Market Risk and Fermat RAPM (Risk Adjusted Performance Management).
"A sound and effective corporate governance is a priority for SIB for our long-term success, it is fundamental for us to have a reliable and effective risk management system. Fermat was therefore selected because it demonstrated the ability to be a partner in ensuring our long-term success," said Mohammad Rizwan, CRO, Sharjah Islamic Bank.
"Apart from meeting the business requirements, Fermat brings a sound technical, modular architecture, centred around an expandable single financial and risk DataMart. This was of key importance. It increases the value of the system to the bank and dramatically decreases the cost of implementation and on-going support," commented Myron Britto, CIO, Sharjah Islamic Bank.
SIB was a pilot bank for the UAE Central Bank's Basel II program and as such has a strong reputation in the market for risk management implementation. It will be a first mover in the UAE towards Basel II advanced approaches and Risk Adjusted Profitability.
"This contract with SIB consolidates Fermat’s position as a strong provider of Enterprise Risk Management (ERM) to the Islamic Banks in the region. It complements our other Islamic Banking implementations at banks including ABC Islamic Bank and Al Salam Bank in Bahrain, and is our eighth Middle Eastern customer," added Gilbert Gagnaire, co-founder of Fermat.
SIB is a public joint stock bank (majority owned by the UAE emirate of Sharjah) and deals primarily in retail and corporate banking. It is also one of the most prestigious banks in the UAE having successfully converted from conventional to Islamic banking. SIB is Fermat’s fourth customer in the UAE, after Abu Dhabi Commercial Bank, Standard Chartered Bank and the National Bank of Fujairah.
