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Wed 6 Aug 2003 04:00 AM

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Dubai Bank launches state of the art treasury system

Dubai Bank partners with Reuters to create a real time trading room delivering cutting edge treasury products and risk management solutions to customers.

Dubai Bank has entered into a strategic partnership with Reuters to create a real time trading room that delivers cutting edge treasury products and risk management solutions to its customers.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.“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,” said Ahmed Binbrek, chief executive officer for the Dubai Bank.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.“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.” Biswajit Dasgupta, Head of Treasury, Dubai BankOver twenty 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 sixteen Reuters offices in the region to support its offering.

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