Kuwait Finance House-Bahrain (KFH-Bahrain), a leading Islamic commercial and investment bank, today announced that it will begin the immediate implementation of a new risk management technology platform as part of the Bank's ongoing efforts to further strength its risk management capabilities. In doing so, KFH-Bahrain has appointed SunGard, a global leader in software and processing solutions for financial institutions, to initiate a comprehensive project to develop and deliver to the Bank a state-of-the-art risk management software solution. The agreement covers software licensing and implementation. The acquired systems under this software agreement will include Bancware data integration, Bancware ALM, and Bancware capital manager (Basel 2). The project is expected to take one year to fully implement and, once complete, will allow KFH-Bahrain to significantly improve its risk management practices and reporting. Furthermore, the software is compliant with Basel 2 advanced methodologies for credit, ALM and operational risk. Commenting on the announcement, Mr. Waleed Rashdan, Executive Manager at KFH-Bahrain said, "With unprecedented industry growth and the ongoing rapid development of the KFH-Bahrain, the utilisation of international best practices and the highest standards are critical to the ongoing success of the Bank and its operations. We have looked extensively at ways to further enhance our risk management systems and believe we have chosen the best and most effective advanced systems and solutions provider to meet our requirements and those of our investors and shareholders." KFH-Bahrain has taken a number of measures over the past months to further enhance its risk management capabilities including the recruitment of key risk management professionals and the review of all systems and procedures. These measures are all aimed at ensuring that the Bank is utilising the latest tools and standards in risk management as well as in understanding, measuring and managing complex financial products.