Intelligent CIO Middle East Issue 82 - Page 11

NEWS

Saudi EXIM Bank chooses SAS technology for risk management improvement optimise capital and liquidity and meet regulatory demands .

“ Through this project , Saudi EXIM Bank aims to deliver on the ambitious vision of the Kingdom of Saudi Arabia to diversify its economic base .”

SAS , an analytics provider , has announced that Saudi Export-Import Bank ( Saudi EXIM Bank ) has chosen to use SAS technology to increase the governance and efficiency of its risk operations and reporting with model risk management solutions .

The Saudi EXIM Bank was established in 2020 to promote the export of Saudi non-oil products and boost its competency across economic sectors in the global markets .
HE Saad Alkhalb , Saudi EXIM Bank said : “ We are thrilled to announce our decision to use SAS technology . SAS risk management was the next logical step given its proven methodologies and best practices to help us establish a risk-aware culture ,
Alaa Youssef , Managing Director , EMEA Emerging at SAS , said : “ A unified platform can give a complete picture of financial and non-financial risks and swift decision-making as businesses ’ requirements evolve .
“ As models get more complicated and regulatory expectations expand , the built-for-purpose content , role-specific user interface , and best-in-class , usecase-specific features of SAS model risk management enable banks and financial institutions to maximise their investment for a variety of business objectives .”

Inery launches its first public Testnet

Inery , a layer-1 Blockchain programmed for decentralised database management , announced its public testnet . This marks a significant milestone as it gives a chance for the community to get hands-on experience interacting with the different components of the Blockchain .

Dr Naveen Singh , CEO and Co-Founder , Inery , said : “ Our testnet will be a landmark in the Blockchain space as we bring database management in convergence with a decentralised layer . The upcoming testnet is a result of the efforts of the entire technical team , who has been working hard for the past two and half years . Despite facing several challenges , the team has continued to fulfil our aim to build an ecosystem that is developer-intuitive and provides limitless opportunities for them to build Web3 dApps .”
The Inery public testnet will allow developers to test the different functions and features of the Blockchain . More importantly , being live with its testnet further means that the platform is now only one step away from its mainnet release . Inery stated that it wants to deliver a decentralised experience of database management – an infrastructure that lays the foundation for Web3 .
By participating in the platform ’ s public testnet , developers will be able to access functionalities including but not limited to creating smart value contracts , transferring $ INR tokens , using operations , and even developing smart value contracts for tokens and NFTs .
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