(MENAFN) During a ceremony earlier this month conducted at the Conrad Hotel in Dubai, the Asian Banker has offered Kuwait major Gulf Bank with 'Credit Risk Technology Implementation of the Year in the Middle East and Africa' award.

Corporate Communications at Gulf Bank assistant general manager Laila Al-Qatami stated "Gulf Bank is proud to be the recipient of this prestigious award. This award serves as a benchmark for global best practices in risk management and Gulf Bank was selected for this award from all the applicants from the Middle East and North Africa region."

Risk Management general manager at Gulf Bank Raghunandan Menon further commented "with our partner, Intellect Design Arena Limited, we implemented a highly effective consumer risk collection system which has helped Gulf Bank advance key business priorities. This credit risk technology implementation has delivered a state-of-the-art retail collection system that has reduced delinquencies, increased the control of delinquency volumes, and decreased our overall provision pool."

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