Murex expands presence in Kuwait with new partnership with Gulf Bank

Murex will deliver the bank’s first integrated treasury platform

Murex, an industry leader in trading, risk management and processing solutions for capital markets, announces that Gulf Bank, one of Kuwait’s largest banks, has selected MX.3 to modernize and digitalize its capital markets and treasury IT.

The decision to select Murex is part of Gulf Bank’s wider replatforming of its IT landscape in which Murex will be delivering a fully integrated solution for Gulf Bank’s treasury and capital markets functions, which will extend the capabilities of the bank’s treasury operations and enable it to extend its client solutions offering.

Through this new partnership, Gulf Bank will deploy Murex’s MX.3 platform, providing a robust technology infrastructure for core and support operations, as well as risk management.

Philippe Helou, Co-founder and Managing Partner at Murex said: “Our partnership with Gulf Bank marks an exciting step toward the bank’s digital transformation – significantly increasing the sophistication and capabilities of its treasury operations. It’s also a strategically important announcement for Murex, as we consolidate our presence in the Middle East with a string of new partnerships transforming regional banks’ core systems and operations.”

Commenting on Gulf Bank’s new partnership with Murex, Sami Mahfouz, General Manager – Treasury at Gulf Bank said: “Gulf Bank is committed to delivering the best solutions for our customers, which
is why we are constantly working to ensure our internal processes and core operations are up to the highest industry standards. By partnering with Murex, we are working with a worldwide leader in technology solutions for capital markets and treasury. We have no doubt that our partnership will further optimize our client centric model and help drive Gulf Bank’s operational excellence across our various business functions.”