Capital Bank of Jordan to roll out EastNets anti-money laundering solutions

EastNets signed to provide filterning and profiling solutions to Capital Bank of Jordan

Tags: Capital Bank of JordanEastNetsJordanMoney laundering
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Capital Bank of Jordan to roll out EastNets anti-money laundering solutions (l-r) Haytham Kamhiyah, general manager, Capital Bank and Fahed Abu-Hijleh, managing director, EastNets Jordan.
By  Mark Sutton Published  July 11, 2010

The Capital Bank of Jordan has signed an agreement with EastNets to deploys is anti-money laundering solutions.

The bank will roll out EastNets en.SafeWatch Filtering and en.SafeWatch Profiling, to help it stay up-to-date with local and international compliance requirements.

Haytham Kamhiyah, general manager, Capital Bank, said: "We decided to develop our current systems by adopting a new solution which is able to keep pace with developments taking place in the area of compliance, and is in line with the requirements of the Monetary Authority, while complementing the relationship between the banks internally and externally. This move is in line with the efforts of the financial and banking sectors, and is in tune with the developments in the banking industry and global taxonomy standards which are associated with the provision of preventive measures. We are confident that the excellent track record of EastNets and its expertise in the field of anti-money laundering solutions will enable us to meet the needs in this area in order to protect our customers and the economy as a whole."

The en.SafeWatch Filtering solution provides real-time filtering and blocking of financial transactions, and can be fully integrated with en.SafeWatch Profiling, which provides customer and account monitoring and profiling, risk scoring, peer group analysis, case management and regulatory reporting.

"We are pleased with Capital Bank of Jordan's selection of our en.SafeWatch Filtering and en.SafeWatch Profiling solutions," said Hazem Mulhim, CEO of EastNets. "With this agreement, Capital Bank of Jordan is taking a vital step towards promoting and developing risk protection against money laundering and to address tightened regulatory controls."

Fahed Abu-Hijleh, managing director, EastNets Jordan, added: "Our partnership with Capital Bank of Jordan reaffirms our strong reputation as a leading provider of reliable and secure financial solutions in Jordan. We will build on our growing portfolio of high-profile clients to further expand and strengthen our share in Jordan's financial market."

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