Speaking on the occasion as he collected the award, Mr. Korhan Alev – Chief Executive Officer, Bahrain Middle East Bank said: “We are delighted to be recognized by the industry and we are overjoyed to receive the “Best Trade Finance Bank” award in Bahrain . This comes to us on the heels of diversifying our Trade Finance product into the MENA region. Above all it is the recognition of our strength and experience in the product as our core competency over the past eight years.”

It is worth mentioning that BMB offers a range of Trade Finance solutions for import and export transactions designed to meet the challenging needs of industrial companies in GCC and MENA countries. It undertakes both Islamic and Conventional Trade Finance transactions.

The post Bahrain Middle East Bank awarded the ‘Best Trade Finance Bank’ appeared first on Bahrain Middle East Bank.

Bank Master Policy agreement (BMP) will assist BMB to cater to export financing on an Islamic basis and utilize export receivables as security for the repayment of the credit extended.

Documentary Credit Insurance Policy (DCIP) will help BMB effectively manage risks affecting its Letter of Credit (LC) transactions in ICIEC member countries.

The agreements were signed on behalf of ICIEC by Mr. Oussama A. Kaissi – ICIEC’s Chief Executive Officer – and, on behalf of Bahrain Middle East Bank (BMB) by Mr. Korhan Alev, Chief Executive Officer.

Mr. Korhan Alev of BMB on this occasion said: “We are extremely happy to advance our cooperation with the IDB’s ICIEC by signing the DCIP and BMP policies. Trade finance forms an important focus of our diversification strategy and contributes significantly to our mandate to support The Kingdom of Bahrain, GCC and MENA industry development.

It is worth mentioning that BMB offers a range of Trade Finance solutions for import and export transactions designed to meet the challenging needs of industrial companies in The Kingdom of Bahrain, GCC and MENA countries.

About BMB

BMB is one of the foremost Wholesale Banks to be set-up in the Kingdom of Bahrain in 1982 and offers services in areas of:

BMB’s operations are backed by a network of relationships amongst Top Tier Global Financial Institutions, Asset Managers, Trade Finance Specialists and Investment Banks in the MENA region. For more information, visit us at www.bmb.com.bh

Click here for Press Release

The post Bahrain Middle East Bank enters into partnership with ICIEC appeared first on Bahrain Middle East Bank.

Click here for Press Release

The post Bahrain Middle East Bank donated BD 1,000 to the Smile Initiative appeared first on Bahrain Middle East Bank.

JCR Eurasia Rating for BMB

Click here for Press Release

The post JCR Eurasia Rating has assigned Bahrain Middle East Bank B.S.C. Long Term National Credit Rating of “AA-(Bhr)” appeared first on Bahrain Middle East Bank.

Click here for Press Release

The post Annual Ordinary General Meeting & Extraordinary General Meeting appeared first on Bahrain Middle East Bank.

The post Subscription results for the Rights Privileged Offering of new Shares in Bahrain Middle East Bank B.S.C. appeared first on Bahrain Middle East Bank.

Gaurav Baid, Chief Financial Officer, BMB, commented on the strategic role of technology in this transformation program, “In our drive to enhance client reach with ease of operation to the anticipated volume, the Bank under the stewardship of the new strategic stakeholders has embarked on an encompassing exercise to transform its core banking and reporting system. The enhanced Wolters Kluwer OneSumX solution system will facilitate ease of regulatory compliance and reporting to all constituents of our business.” The Bank will thus serve with a core group of functionaries aided with enhanced technology that will boost its growth.

Juan Jarjour, Managing Director of Advanced Financial Solutions, said, “We are delighted to partner with BMB on an integrated general ledger, financial & compliance reporting system transformation. The OneSumX platform selected by BMB is a powerful solution geared to handle BMB requirements for automation and is a solid platform to support the Bank’s growth.”

About BMB

BMB is a Wholesale Bank, established in 1982. It is one of the foremost Wholesale Banks to be set-up in the Kingdom of Bahrain and offers services in areas of:

BMB’s operations are backed by a network of relationships amongst Top Tier Global Financial Institutions, Asset Managers, Trade Finance Specialists and Investment Banks in the MENA region. For more information, visit us at www.bmb.com.bh.

About Advanced Financial Solutions

Advanced Financial Solutions specializes in risk management, financial consulting & software solutions and is a business unit of Midis Group, one of the largest technology companies in the Middle East.

Advanced Financial Solutions has a specialized team of consultants with deep domain expertise in:

News Art

icle in mebankers

The post Bahrain Middle East Bank selects Advanced Financial Solutions for implementation of Wolters Kluwer OneSumX General Ledger, Financial Reporting & Compliance Solution appeared first on Bahrain Middle East Bank.

Click here for Press Release

The post Bahrain Middle East Bank announces the extension of the Subscription Period appeared first on Bahrain Middle East Bank.

Click here for Press Release

The post Bahrain Middle East Bank announces a Rights Offering to its Shareholders appeared first on Bahrain Middle East Bank.

The Bank under its new major stakeholders, felt a growing need to optimize its treasury technology. The changing marketplace and its drive to cover international markets accelerated the push to offer innovative products and solutions to their customers. With heightened customer expectations and the internal need to streamline operations, BMB embarked on this treasury technology transformation.

Gaurav Baid, Chief Financial Officer, BMB, commented on the strategic role of technology in this transformation program, “The decision to transform treasury and risk management operations at BMB was driven by the need to optimize our treasury function and ensure focus on our core commitments and regulatory compliance. TCS BaNCS for Treasury is a perfect fit for supporting our current and future business needs, and also enable us to launch innovative solutions for our customers. We evaluated many alternatives but TCS platform aligned closely with our requirements. TCS BaNCS Treasury will help us to digitizing manual tasks and processes and drive innovation.”

Vivekanand, Vice President & Co-Head – TCS Financial Solutions, said, “A 100% Java solution, TCS BaNCS Treasury is a state of the art offering. This platform selection by BMB is a prime example of the richness of the solution and demonstrates our leadership and performance track record in the Middle East.”

TCS BaNCS for Treasury is an integrated, cross-asset-class platform for front-, middle-, and back-office operations in a treasury function. It is a multi-entity, multi-currency, integrated trading, risk management, processing, settlements and accounting platform, covering specialized and diverse asset-class instruments. It will help the Bank streamline workflows and enable decision support by providing real-time, cross-asset-class risk analytics from a single system. The extensive array of asset classes and instruments also make it easier for the Bank to explore a wide range of instruments for portfolio diversification.

About BMB

BMB is a Wholesale Bank, established in 1982. It is one of the foremost Wholesale Banks to be set-up in the Kingdom of Bahrain and offers services in areas of:

BMB’s operations are backed by a network of relationships amongst Top Tier Global Financial Institutions, Asset Managers, Trade Finance Specialists and Investment Banks in the MENA region. For more information, visit us at www.bmb.com.bh.

About TCS Financial Solutions

TCS Financial Solutions is a strategic business unit of Tata Consultancy Services. Dedicated to providing business application solutions to financial institutions globally, TCS Financial Solutions has compiled a comprehensive product portfolio under the brand name of TCS BαNCS. With a global customer base of more than 370 institutions operating in over 80 countries, TCS BaNCS delivers core systems for the banking, insurance and capital markets industries worldwide, for the digital era. For more information, visit us at www.tcs.com/bancs.

About Tata Consultancy Services Ltd (TCS)

Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model(GNDM), recognized as the benchmark of excellence in software development. A part of the Tata group, India’s largest industrial conglomerate, TCS has over 387,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $17.58 billion for year ended March 31, 2017 and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. For more information, visit us at www.tcs.com.

The post Bahrain Middle East Bank selects TCS BaNCS for Treasury to drive innovation and enhance customer experience appeared first on Bahrain Middle East Bank.