Oman International Bank (OIB), a leading retail and commercial bank in Oman, has selected SunGards Ambit Treasury Management, Ambit ALM and Ambit Credit Risk Management solution suites to help integrate treasury operations, reduce operational costs and better manage its cash, liquidity and balance sheet risk. SunGards Ambit solutions will also give OIB an improved view of its commercial credit risk and the ability to perform real-time regulatory reporting.
Ambit Treasury Management will help the bank establish a centralized front-to-back-office treasury operation providing support for multiple asset classes, which will help the bank easily extend services to clients as its business expands. With Ambit ALM, OIB can perform funds transfer pricing and multi-dimensional analyses of the balance sheet by modeling customer behavior, economic valuation, interest rate scenarios, and a wide range of other variables.
Douglas Emmett, general manager at Oman International Bank, said, SunGards Ambit integrated treasury and risk solution will help us consolidate onto a single platform for treasury and asset liability management. Ambit will help OIB more accurately identify, manage and minimize risks within our business. We selected SunGard because of the strength of the Ambit solution suite, its deep industry expertise and its strong support infrastructure in the Middle East.
Wissam Khoury, managing director for the Middle East at SunGard Financial Systems, said, Banks are undergoing rapid expansion in the Middle East and SunGards integrated approach to treasury management and asset liability management is helping our customers capitalize on this change. SunGards Ambit solution suite is helping banks across the region develop a complete and accurate view of risk while delivering improved visibility and control through a single view of their cash and liquidity.
About Oman International Bank S.A.O.G
Oman International Bank SAOG is an Oman-based bank that provides banking and financial services through a network of branches in Oman, India and Pakistan. The Bank offers its services primarily through four business units: Individual Banking, Corporate Banking, Institutional Banking and Treasury. Its Individual Banking unit offers deposit and card products, loans and remittances. Its Corporate Banking segment offers deposit products, syndicated loans, term loans, project financing and bill discounting through two subdivisions, namely Small & Medium and Corporate Business. The Institutional Banking segment offers products and services through two subdivisions: Institutional Banking, which includes vostro accounts, demand draft and telex transfers, and Foreign Trade, which offers letters of credit, bills for collection, merchant services and bank guarantees. Its Treasury unit offers foreign exchange, money market, interest rate market and structured solutions. For further details, please visit: http://www.oib.co.om
About SunGards Ambit
SunGards Ambit is a banking solution suite for retail, commercial and private banks. It provides banking professionals with solutions that support front-, middle- and back-office operations, as well as solutions for financial management, risk and compliance. Ambit helps banks retain and acquire customers, achieve dynamic staff efficiency and measure and allocate their capital. For more information, visit http://www.sungard.com/ambit.
About SunGard
SunGard is one of the worlds leading software and technology services companies. SunGard has more than 17,000 employees and serves approximately 25,000 customers in more than 70 countries. SunGard provides software and processing solutions for financial services, education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue of about $ 4.5 billion, SunGard is the largest privately held software and services company and was ranked 434 on the Fortune 500 in 2011. Look for us wherever the mission is critical. For more information, please visit http://www.sungard.com.
Trademark Information: SunGard, the SunGard logo and Ambit are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.
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recent media reports that California and other states will be swallowed up in a massive wave of foreclosure action long delay in 2012, as banks try to more aggressively with mortgage arrears, their owners, the majority of media losing houses without the help of lawyers to defend their rights, according to Vito Torchia, Jr., General Counsel Brookstone Law, PC.
Now you have admitted their gross mismanagement and deals with the legal problems that caused banks are behind the owners have, once again, said Vito Torchia, Jr.
According to media coverage, 1.9 million U.S. households had been with default notices, foreclosures and other actions hit California last year, the third highest incidence of foreclosures, behind Nevada and Arizona.
“In 2011 we are about how the banks started to talk more aggressively to foreclosures,” said Vito Torchia, Jr. “As expected, confirmed the news that the trend will continue this year and people will also continue to lose their homes damaged in many cases because of the bad loans and mortgages. “
media reports indicate that in California, 3.2% of households had at least one foreclosure in the last year reported 2.7% of the ads in Los Angeles and 2.5% in Orange County, compared to approximately 5% San Bernardino County and 5.3% in Riverside County. California also saw an increase in the second half of 2011, the first notice of default, which is a first step, if the banks are preparing to take the property with delinquent mortgages.
The only positive that banks become more aggressive and less time to negotiate now than before the discovery of its role in creating the housing crisis, Vito Torchia, Jr., with the help owners of legal experts to security solutions faster than at any time guarantees in recent years.
media coverage of the trend also noted the Federal Reserve urged Congress last recently to do more for troubled homeowners.
discussion on the reduction of the loan to the borrower under water is misleading, because the idea that taxpayers fund basis, the housing GSEs is to be financed, which has already reached over $ 150 million and that during this election year seems unlikely, said Vito Torchia Jr. exclusion troubled home and apartment owners are much more useful to take strong action now to protect your rights with a law expert attorney on your side.
About the Law
Brookstone, PC
in Newport Beach, California, with offices in Los Angeles, California, headquarters and Ft. Lauderdale, Florida, Brookstone’s Law, PC in a firm of lawyers with experience and success in business, business and personal finances, employment, entertainment and media, art and museum, intellectual property law and real estate together. The company has a network of more than 40 affiliated attorneys throughout the country and has highly-specialists, consultants, assistants and administrative staff are trained to serving customers. For more information, call (800) 946-8655 or visit Brookstone in http://www.brookstonelaw.com Law.com.
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Tax2efile
is one of the leading online IRS authorized the submission of electronic services. With years of experience in the tax industry and in-depth knowledge Tax2efile IRS e-file system has remained at the forefront of current services tax. Continuing the push toward a fully electronic filing system Tax2efile created and developed a valuable tool for businesses, from small businesses to multinational companies.
the latest software for electronic filing is the form Tax2efile 1009-K. This form is not new Tax2efile but also a new form to the IRS. Tax2efile is proud to be among the few companies that offer services for the first time in e-file for Form 1099-K. With the current economy is largely based on the Internet that the IRS has created Form 1099-K to web-based transactions and transfers are based.
Payment Processing Entity (PSE) must file Form 1099-K, Merchant network card payments from third parties, caused, for payments in the amount of reportable payments, for each calendar year. A PSE a payment in settlement of a payment notice, that any payment card or third party network transaction, if the PSE contains instructions to declare for the transfer of funds in the account of the beneficiary participants to liquidate the payments.
PSE is a national or foreign, that the acquisition of a commercial unit, ie a bank or other organization that has the contractual obligation to make payment to the beneficiaries participating in the settlement of credit card transactions, credit, or a third party settlement organization (TPSO), ie, the central organization is contractually obligated to make payments to the beneficiaries of transactions with third parties via the network.
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