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ALCHEMY SIGNS FIRST DAWOOD ISLAMIC BANK
LIMITED FOR ALCHEMY RISK MANAGER IMPLEMENTATION
June 2007
Karachi, Pakistan – Alchemy Associates / Alchemy Technologies
signed up First Dawood Islamic Bank for the implementation of
Alchemy Risk Manager. First Dawood Islamic Bank is Alchemy’s
first Islamic bank engagement as far as solutions are concerned.
Alchemy Risk Manager is a Basel II compliant enterprise risk
solution which offers additional features such as treasury
and risk adjusted return calculator, derivative pricing engine,
derivative risk management, interest rate simulation model,
value at risk estimators, portfolio benchmarking and back
testing tool kit.
About First Dawood Islamic Bank
First Dawood Islamic Bank Limited is the sixth full-fledged
Islamic bank in the country licensed by the State Bank of
Pakistan. It has been jointly sponsored by the First Dawood
Group, Bank Islam Malaysia Berhad, Unicorn Investment Bank
(Bahrain) and Islamic Corporation for Development of the Private
Sector (ICD – an arm of the Islamic Development Bank
Jeddah).
About Alchemy
Alchemy is a boutique risk management firm with customers
in Pakistan, Middle East and Thailand that has been growing
at more than 100% a year, year on year for the last four years.
The company’s flagship product, the “Alchemy Risk
Manager” has won multiple industry awards and has been
successfully implemented at multiple client sites including
banks and insurance companies.
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