Kenya's IFRS and Basel 2 challenges
A practical challenge Kenyan banks challenge in complying with International Financial Reporting Standards and Basel 2 is the use of complex financial models to measure risks in their portfolio, explained Njuguna Ndung'u, the governor of the Central Bank of Kenya.
Ndung'u emphasised that these models provide adequate predictive power, but there must be sufficient data. "At present, the most important concern is the lack of consistent data points over time. For example, for credit risk
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