Bank Islam Malaysia, a Shariah-compliant financial institution, has selected Honolulu-based Kamakura to provide risk management solutions.

Established in 1983, Bank Islam Malaysia has a network of 147 branches and over 1200 self-service terminals throughout Malaysia.

The Malaysian Islamic bank provides more than 70 Shariah-based banking products and services.

Kamakura claims that its integrated asset liabilities management system suite will enable the lender to execute its digitalisation initiative.

Bank Islam Malaysia treasury head Encik Adi Asri Baharom said: “The selection of an asset and liabilities management system ensures that our regulatory submissions are accurate and consistent.

“During the implementation, the consultants demonstrated superior subject-matter expertise and made sure the bank was well-equipped and trained in using the system to best effect.”

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Kamakura stated that each simulation model or transfer pricing methodology is supported by reconciliation templates that help users validate the model as well as ensure that the bank meets all audit compliance rules.

Furthermore, Kamakura will deliver complete ERM solution to enable the bank to actively manage cashflow positions and accurately assess the margins of internal business units.

Kamakura added that the user interface of its solution was built to allow users to configure simulations intuitively on a regular basis.

Kamakura professional services vice president and director Asia-Pacific Chee Hian Tan said: “Kamakura’s powerful simulation capabilities allow users to create scenarios in a sandbox environment, where they can easily assess impacts on various risk metrics.

“Kamakura’s integrated solution has allowed the bank to run new business growth target simulation to determine future NII and liquidity impacts, as well as generating forward-looking FTP positions.

“The bank also uses the LCR result to factor in HQLA cost in their fund-transfer pricing process. Such integrated usage of risk metrics is only possible with a fully integrated solution like Kamakura’s.”

Established in 1990, Kamakura offers risk management information, processing, and software. The company has served over 330 clients with assets ranging in size from $1.5bn to $3.0 trillion.