Arab Jordan Investment Bank (AJIB), one of Jordan’s leading investment and commercial banks has gone live with the Loxon Basel II Calculation Engine covering all material risks and reports under the Basel II regulation according to the Central Bank of Jordan (CBJ) and providing all advanced risk management functionalities required by AJIB.
AJIB recognized that effective risk management (both in every-day operation and practices) is one of the key success factors for Banks in the Middle-East, therefore high quality and proven solutions are needed which are also tailor-made for the specificities of the local market. For the mentioned reason the bank was looking for a professional tool which can entirely cover the Basel II requirements of CBJ both for calculation and reporting in a fully automated way and as an addition it can help the bank to become more sophisticated in risk management.
The Bank has chosen the consortium of Loxon and its strategic partner, Pio-Tech to implement the Loxon Basel II Calculation Engine as an integrated component to Pio-Tech banking data warehouse and regulatory reporting solution Bank-BI. The implementation covered the following modules: Credit risk, Market risk, Operational Risk, Operational Risk Loss Database, Stress Testing, Pillar 2 risks and Liquidity Risk module which also complies with the BIS Basel3 regulation.
Loxon is confident that the integrated solution offered together with our strategic partner Pio-Tech helps the Bank to be more prudent and profitable as through using advanced risk management methodologies can be more competitive.” - Tamas Erni, managing partner, Loxon Solutions.