Gulf Bank is pleased to introduce it has actually been awarded the Credit Risk Technology Implementation of the Year in the Middle East and Africa by The Oriental Lender. Gulf Bank received the award at an event following the 'MENA Risk and Transaction Banking Dialogue 2017', held previously this month, at the Conrad Hotel in Dubai. The Eastern Banker is one of Asia's leading consulting companies in economic services research study, benchmarking and intelligence.

Talking about this award, Ms. Laila Al-Qatami, Assistant General Manager for Corporate Communications at Gulf Bank said: "Gulf Bank is happy to be the recipient of this distinguished award. This award serves as a benchmark for global best techniques in risk monitoring and Gulf Bank was picked for this award from all the candidates from the Middle East and North Africa region."

Mr. Raghunandan Menon, General Manager of Risk Management at Gulf Bank, emphasized the significance of the Bank's danger administration saying: "With our partner, Intelligence Design Arena Limited, we executed a very effective consumer risk collection system which has assisted Gulf Bank advance key business concerns. This credit threat technology application has actually provided a state-of- the-art retail collection system that has actually reduced misbehaviors, enhanced the control of delinquency volumes, and decreased our overall provision pool."

All banks and non-bank banks (including insurance companies, brokerages, credit companies and finance companies) with operations in Middle East and Africa were qualified for submission. The participants for the Credit Risk Modern technology Application award were examined based upon in-depth descriptions and paperworks of how the toughness of the organization's threat management core expertises was applied.

Prior to its selection, Gulf Bank was very carefully examined by a panel of industry experts and judges across a stringent set of criteria to identify the Bank's general efficiency and services as compared to other local banking competitors. The option procedure started in August and finished in October, and included a group of scientists operating in tandem. The first selection is with a survey and desk research done by the research study group at the Oriental Lender. The identified prospects are then subject to more examination though meetings and their names are put into a survey that is dispersed to The Oriental Banker's 38,000 viewers.

After the results of the survey and the study have been compiled, a short-list of prospects is then sent for review by the international board of advisors for a final evaluation and recommendation to figure out which candidate must get the award. The exemplary implementations are ultimately documented and published as research kept in mind in the Danger and Policy Working Group, the Oriental Lender's repository of finest practices in the industry.

To learn more about any of Gulf Bank's awards, product or services, check out one of Gulf Bank's 57 branches, call the Consumer Call Center on 1805805, log on to www.e-gulfbank.com, Gulf Bank's bilingual web site, or see its social media channels.