Abu Dhabi: The Central Bank of the UAE has laid out a roadmap to introduce tougher conditions for banks and financial institutions to comply with Basil III
Accord on capital adequacy, stress testing and market liquidity risk.
Al-Mish'al pointed out that the launching by the Bahrain Bourse of its new trading regulations and the underwriting of Zain- Bahrain were two of the best things that happened in the financial sector in addition to the readiness of financial institutions operating in Bahrain to apply the Basil III
new criteria for capital efficiency.
He reiterated that the Lebanese banking sector had exceeded the capital adequacy ratio set by Basil III
Najjar pointed out that the top themes in 2013 remained money laundering, risk management, terrorism finance, data security, global sanctions enforcement, and the new international core principles such as Basil III
and the International Organisation of Securities Commissions (IOSCO).
DeJordy and her husband Robert of Northbridge; 8 grandchildren, Mary Frances, Basil III
, Anne Marie, Timothy, Carolyn, Christopher, Matthew, and Thomas; 10 great grandchildren; nieces and nephews.
According to the agreement, which came out of the Basil III
committee, banks which pose risks to the world financial situation through scope will face a rising scale that will determine exactly how much more capital they must hold.
He said that Bahraini banks in particular and Gulf and Arab banks in general have better financial solvency than European and western banks as Arab and Gulf banks determine financial solvency on the basis of shareholders rights and retained profits unlike western banks which determine financial solvency on the basis of other elements that have been superseded by Basil III