Saudi Export Import Bank, called Saudi EXIM Bank will be utilizing SAS technology to increase the governance and efficiency of their risk operations and reporting with model risk management solutions. Through SAS Model Risk Management, entities are able to establish a centralized model inventory that supports a company’s internal policies and procedures across all business units.
Saudi EXIM Bank established in 2020 promotes the export of Saudi non-oil products and boost their competency across economic sectors in the global markets. The Bank provides financing services, guarantees, and credit insurance with competitive advantages, to enhance confidence in Saudi products. It is one of the supervised development funds and banks by the Saudi National Development Fund (NDF).
Saad Alkhalb at Saudi EXIM Bank said: “We are thrilled to announce our decision to use SAS technology. SAS Risk Management was the next logical step given its proven methodologies and best practices to help us establish a risk-aware culture, optimize capital and liquidity, and meet regulatory demands. Through this project, Saudi EXIM Bank aims to deliver on the ambitious vision of the Kingdom of Saudi Arabia to diversify its economic base by promoting and enabling non-oil exports in line with the objectives of Saudi Vision 2030”.
“A unified platform can give a complete picture of financial and non-financial risks and swift decision making as businesses’ requirements evolve. Models get more complicated, and regulatory expectations expand, the built-for-purpose content, role-specific user interface, and best-in-class, use-case-specific features of SAS Model Risk Management enable banks and financial institutions to maximize their investment for a variety of business objectives. This gives them the ability to integrate risk management into the organization’s daily operations and business plan” said, Alaa Youssef, Managing Director of EMEA Emerging at SAS.
