Resources for Basel II Capital Accord (Basel II)

Affin Bank deploys Basell II ahead of schedule

www.theedgedaily.com

Affin Bank Bhd has successfully deployed Basel II, as set by Bank Negara Malaysia (BNM) for all banks.

Affin Bank chief risk officer Kasinathan Kasipillai said: "We are proud to be ahead of schedule in terms of meeting the BNM deadline."

"The completion of Basel II requirement in advance has given us a parallel opportunity to focus on our business goals in 2008, that is to offer Banking Without Barriers to our customers," he said in a statement on Dec 19.

The Basel II framework seeks to strengthen financial stability by better aligning a bank's regulatory capital to actual risks. This process is supervised by BNM, and banks with a lower risk profile stand to gain.According to the mandate set by BNM, all banks in Malaysia are required to compute their capital adequacy ratios under Basel II commencing January 2008.

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