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ME explores risk management

By Siyabonga Africa, ITWeb junior journalist
Johannesburg, 14 Jan 2009

ME explores risk management

SAS has forecast the Middle East will witness a substantial rise in risk management initiatives among regional corporations, as more organisations focus on aggregating and controlling risks to drive business development, states Albawaba.

With the current global credit crisis triggering more than $400 billion in asset write-downs among the financial services industry, enterprise risk management (ERM) programmes and components are in high-demand now more than ever to help institutions in the Middle East aggregate risk and treat it holistically.

Adopting an ERM system is now regarded by the region's largest businesses as protection against damaged reputation and as a valuable tool that offers an integrated approach to efficiently allocate capital and facilitate better loss containment.

MicroBilt acquires PRBC

MicroBilt Corporation has acquired Pay Rent Build Credit, a provider of payment history data on consumers with thin or no credit histories, states Inside ARM.

The acquisition will enable the risk management data provider's thousands of SME customers to access bill-payment data that goes largely unreported by the major national credit bureaus such as rent, utility, phone, insurance, Internet and other recurring bill payments.

This data provides the SME marketplace access to a huge source of new customers for their goods, services and products, as there are over 50 million adults in the US with little or no credit history.

VIB applies creditworthiness system

The Vietnam International Bank (VIB Bank) has successfully applied an internal creditworthiness evaluation system to develop its risk-management policy, reports Vietnam News.

The new system was designed and implemented in adherence to guidelines from the State Bank of Vietnam.

The evaluation system is designed to improve VIB Bank's loan management and to assess credit risks while reducing the duration of lending appraisals.

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