Raqami Islamic Digital Bank Achieves ISO/IEC 27001:2022 Compliance with Risk Associates

Raqami Islamic Digital Bank Limited (RIDBL) has announced a major achievement in its commitment to information security by securing ISO/IEC 27001:2022 certification. This milestone is the result of a strategic partnership with Risk Associates, a leading management systems certification body. The certification underscores Raqami Bank’s dedication to maintaining international standards in information security.

The formalization of this partnership occurred at a signing ceremony held at Raqami Bank’s Karachi headquarters. The agreement was signed by Kashif Hassan, Managing Director of Risk Associates, and Umair Aijaz, CEO of Raqami Islamic Digital Bank Ltd. This collaboration is a significant step for the bank in bolstering its information security framework.

Umair Aijaz, CEO of Raqami Islamic Digital Bank, emphasized the importance of the ISO/IEC 27001:2022 certification. “At Raqami Bank, our foremost priority is the protection of our clients’ data. This partnership with Risk Associates to achieve ISO/IEC 27001:2022 compliance highlights our unwavering commitment to this goal. The certification will enhance our ability to deliver secure and Shariah-compliant digital banking services,” Aijaz stated.

Syed Alay Raza, Group Head and Chief Information Security Officer (CISO) at Raqami Islamic Digital Bank, also highlighted the importance of this certification. “Implementing ISO/IEC 27001:2022 is a significant advancement in establishing a robust information security management framework. It aligns us with global best practices and strengthens our security posture against emerging cyber threats,” Raza noted.

ISO/IEC 27001:2022 is an internationally recognized standard for information security management systems (ISMS). Achieving this certification involves aligning with stringent global standards to ensure the protection of an organization’s information assets. For Raqami Bank, this compliance represents a crucial enhancement in its approach to information security.

The benefits of ISO/IEC 27001:2022 certification for Raqami Bank are substantial. Primarily, it ensures regulatory compliance with the stringent requirements set by the State Bank of Pakistan (SBP) and other regulatory authorities. This alignment is vital for maintaining operational integrity and fulfilling legal obligations within the financial sector.

Additionally, the certification significantly boosts the bank’s cybersecurity defenses. By improving its information security structure, Raqami Bank can better safeguard against cyber threats, thus minimizing potential vulnerabilities and breaches. This proactive approach enhances trust among clients and stakeholders who are increasingly concerned about data security.

Moreover, ISO/IEC 27001:2022 compliance fosters a culture of security awareness within the organization. It emphasizes the importance of effective security practices among employees and clients, promoting a more informed and vigilant approach to managing information security.

The partnership with Risk Associates forms a key part of Raqami Bank’s broader information security strategy. As a digital bank committed to offering innovative and Shariah-compliant financial solutions, achieving this certification reinforces the bank’s commitment to maintaining the highest standards of data security and privacy.

In summary, Raqami Islamic Digital Bank’s attainment of ISO/IEC 27001:2022 certification marks a significant advancement in its information security efforts. The collaboration with Risk Associates not only strengthens the bank’s security framework but also demonstrates its dedication to providing secure and reliable digital banking services to its customers across Pakistan. This achievement highlights Raqami Bank’s ongoing commitment to excellence in the dynamic and evolving digital banking landscape.

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