ruya bank has partnered with specialist analytics and risk management consultancy 4most to design and implement its IFRS 9 Expected Credit Loss (ECL) framework, supporting the bank’s initial portfolio launch and strengthening its credit risk governance capabilities.
The engagement covers the development of IFRS 9 models across retail, SME and corporate portfolios, alongside a flexible Excel-based ECL solution designed to support seamless onboarding of additional portfolios over time. The framework includes full model documentation, knowledge transfer sessions, executive presentations, and support in responding to validation, audit, and regulatory queries.
In addition to model development, 4most is providing ongoing support for the execution of ruya’s ECL processes over a 12-month period. This includes quarterly production of ECL numbers, onsite support from 4most’s Head of Analytics to ensure all inputs are received, and presentation of results at governance committees to enable approval and completion of the end-to-end ECL process.
As ruya bank expands its product offering, the framework has been designed to evolve alongside the business, with provision for updating models and documentation for newly launched portfolios, ensuring continued alignment with IFRS 9 requirements and regulatory expectations.
The partnership reflects ruya bank’s commitment to building robust, transparent credit risk processes from inception, combining strong technical foundations with practical execution capability.
Mohamed Siddique Lair, Head of Risk, from ruya commented: “Our collaboration with 4most has been instrumental in establishing a solid IFRS 9 ECL framework as we grow our portfolio. Their pragmatic approach, deep technical expertise, and hands-on support have helped us implement models and processes that are both regulator-ready and operationally efficient.
“The knowledge transfer and governance support provided by the 4most team have ensured our internal stakeholders are fully equipped to manage ECL on an ongoing basis.”
Jarred Lloyd, Head of Analytics, from 4most added: “We’re proud to support Ruya Bank on this important phase of their journey. Establishing IFRS 9 capability early, with scalable models and clear governance, puts banks in a strong position as portfolios evolve. Our focus has been on delivering a practical ECL framework that combines regulatory rigour with real-world usability.”
