Middle East Bank Signs RiskMentor Contract with PIC Solutions

Cape Town, 25 October 2005 – International Bank of Qatar, a leading financial services institution in Qatar, has expanded their consulting relationship with PIC Solutions by signing a RiskMentor contract.

Through this enhanced RiskMentor contract, International Bank of Qatar has access to professional resources from any area of PIC Solutions expertise. This includes credit risk management consulting, analytics, project management and software services.

The RiskMentor service is on a retainer-basis and ensures maximum productivity, combined with fixed quarterly budgeting. International Bank of Qatar plans on using this RiskMentor contract to maintain its competitive edge and ensure effective customer services throughout the organisation.

Dip Mitra, Head of Risk at International Bank of Qatar, comments, “PIC Solutions has a firm understanding of the financial services industry and banking systems in the Middle East. Through this RiskMentor contract PIC Solutions risk consultants will work across a wide range of our banking decisions. This expanded consulting relationship has the added benefit of ensuring that our organisation has access to a variety of skilled resources to achieve our business objectives.”

Dave Lewis, Director of Consulting at PIC Solutions, adds, “We look forward to working with International Bank of Qatar on this assignment. Our experienced consultants have extensive knowledge of the Middle East banking environment. This enhanced RiskMentor contract will ensure that International Bank of Qatar has access to ongoing credit and risk management consulting support to maximise all its business opportunities.”