Business | Banking
DIB purchases anti-money laundering system from Norkom
Solution will enable Dubai Islamic Bank to monitor and analyse transactions and customer interactions across its entire base.
- Staff Report
- Published: 23:30 August 31, 2008
Dubai: Dubai Islamic Bank (DIB) yesterday announced the purchase of an integrated anti-money Laundering and compliance solution from Norkom Technologies, a provider of financial crime and compliance solutions.
DIB will implement the solutions across its operations in the UAE and Pakistan.
This advanced software will enable DIB to monitor and analyse transactions and customer interactions across its entire customer base in order to identify and investigate suspicious and criminal behaviour.
"This initiative demonstrates DIB's commitment to improve its defences against money laundering and terrorist financing. Norkom was a natural selection for us not only for its proven technological and international capability, but its excellent business acumen and approach to cultivating close customer relationships," said Waheed Rathore, Head of Group Compliance at DIB.
"Norkom invests as much time and effort in building close relationships with all its customers as it does in developing the best-of-breed financial crime and compliance software solutions. This deal represents a significant milestone for Norkom.
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