Kuwait-based Gulf Bank has entered into an agreement for purchase and implementation of an Enterprise-Wide Risk Management System from SunGard, a software and technology services company. The implementation will be done by AFS, Bahrain / Sungard.

According to the SunGard, every aspect of the new system was designed to help Gulf Bank deliver better banking solutions and services.

Gulf Bank will use SunGard system for four separate risk management streams, which covers the banking and trading books and operational risk management.

Michel Accad, chief general manager and CEO of Gulf Bank, said: “We are the first bank in Kuwait to have the full suite of SunGard solutions, covering Basel II capital computation, market risk, operational risk and ALM (Asset Liability Management) and FTP (Funds Transfer Pricing) applications.

“This integrated system will provide a centralized view of risk and liquidity across many of the bank’s key functions, helping us to take more informed decisions and maximize our returns over both short-term and long-term horizons.”