Resources for Basel II Capital Accord (Basel II)

Kenyan banks in frantic search for risk managers

www.bdafrica.com

Risk managers have become the labour market’s latest hot cake as commercial banks move to comply with the provisions of the Basel I accord that central banks agreed on nearly 20 years ago.In Kenya, a recent report by the Central Bank indicating that less than half of the country’s 45 banks routinely assess risks to their business, has sent banks into a frantic search for risk managers.

Central Bank’s concern has not only been over the low level of risk management in the banks, but also in the fact that those who do only concentrate on credit risk. This means the eyes of the entire banking sector has hardly been on operational, market, liquidity, reputational, among other risks.

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