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June 6, 2010

Arab National Bank Deploys Murex Treasury Solution

Arab National Bank (ANB), a Saudi joint stock company, has deployed Murex's MX.3 front-to-back office treasury solution, to offer more sophisticated products and solutions to its clients.

By CBR Staff Writer

Murex said that its MX.3, core integrated platform is being used in the bank’s London and Riyadh offices to handle the treasury activity across a range of asset classes spanning foreign exchange, money market, fixed income and derivatives while delivering a full range of functionalities including pricing, booking, risk management, value at risk, limit control, confirmation, payment and accounting.

Mohideen Saleem, head of trading at ANB, said: Murex provides wide coverage of products across asset classes and this would help us to offer more sophisticated products and solutions to our clients. With one key success of the project being the quality and dedication of the on-site Murex resources demonstrated throughout the hand-in-hand implementation and daily support, we feel we have found a strong ally for the future.”

Philippe Helou, general manager and head of business development of Murex, said: We see the relationship with ANB as a partnership. Over the past few years, time and resources have been devoted to prove our commitment to grounding our presence in the Middle East and we are glad to add a significant and prestigious client such as Arab National Bank to our growing list of clients in the region.

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