AL-MAWARID Bank announced that it has signed an agreement with S&P Capital IQ, an international leading provider of multi-asset class and real-time data, research and analytics, to implement the Company’s credit assessment scorecard for corporates.
AL-MAWARID Bankhas adopted S&P Capital IQ’s comprehensive credit management solution in order to enhance its risk management architecture, refine its expert assessment of credit risk for corporates, and comply with the Basel accords and the Lebanese Central Bank requirements.
Using a rigorous development process, the S&P Capital IQ credit assessment scorecards integrate quantitative and qualitative risk factors. The output of the scorecards are mapped to Standard & Poor’s Ratings Services historically observed default rates, and achieve regulatory acceptance worldwide for delivering a fully documented and transparent credit scoring process.
Commenting on the agreement with S&P Capital IQ, Mr.HadiHammoud, Deputy General Manager – Chief Commercial Officer at AL-MAWARID Banksaid: “We are proud to be the first Bank in Lebanon to partner with S&P Capital IQand acquire their credit assessment scorecard for corporates. This partnership will optimize the Bank’s management of its credit portfolio,minimize credit risk, and facilitate its decision making process.”