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AL-MAWARID Bank and Allianz SNA create a new Bancassurance partnership for the Retirement and Education Saving plans
Agreement with S&P - 09-04-2014
AL-MAWARID Bank Signs Agreement with S&P Capital IQ First Lebanese Bank to Acquire S&P Capital IQ’s Credit Assessment Scorecard for Corporates

Beirut, 09/04/2014 – 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 Bank has 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. Hadi Hammoud, Deputy General Manager - Chief Commercial Officer at AL-MAWARID Bank said: “We are proud to be the first Bank in Lebanon to partner with S&P Capital IQ and 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.”