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