Resources for Basel II Capital Accord (Basel II)

Banks need to focus on Basel II

www.arabianbusiness.com

Some GCC banks are likely to miss the January deadline for Basel II compliance because they have not planned ahead, according to an IT solution provider.

Naresh Kothari, president and managing director, Intertec Systems, said: "A lot of banks still don't have people in charge of this. Only about 20 banks in the United Arab Emirates have really moved towards Basel II compliance."

He said that most banks have put measures in place for pillar one, the measurement of credit risk, but a far smaller number have prepared their systems to deal with operational risk.

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