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December 1, 2014updated 04 Apr 2017 12:54pm

Jordan Islamic Bank selects SAS to meet compliance requirements

Jordan Islamic Bank has selected SAS, a provider of business analytics software and services, to provide the bank enterprise governance, risk and compliance (EGRC), anti-money laundering (AML) and foreign account tax compliance act (FATCA) solutions.

Jordan Islamic Bank has selected SAS, a provider of business analytics software and services, to provide the bank enterprise governance, risk and compliance (EGRC), anti-money laundering (AML) and foreign account tax compliance act (FATCA) solutions.

SAS claims that its security and risk management solutions will provide the bank a holistic framework that will supports its most critical information and intelligence needs to simplify processes and support the consistency and integrity of information.

It will also help the bank to meet stringent government regulations, protect shareholder confidence and maintain a strong reputation.

The technology company added that its solutions will provide advanced analytical detection coupled with data management layer to help reduce false positives.

Musa Shihadeh, vice chairman, general manager of Jordan Islamic Bank, said: "This agreement is an application of our bank’s strategy to develop its banking operations through ensuring a world-class integrated banking system and contributes to improve customer experiences and customer profitability, manage risk and regulatory compliance, anticipate fraud and create value from data.

"This is what we hope to obtain through experiences, exchange and strategic partnership between our bank and SAS."

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