UAE to implement Basel II accord

The UAE central bank announced Monday it would adopt the risk assessment mechanism known as Basel II, which will go into force in 2007. The governor of the central bank said final touches were being added to the system in order to enable banks to implement the Basel accord more effectively.

Source: Gulf News

The UAE Central Bank announced yesterday it would adopt the risk assessment mechanism next year to meet the requirements of the new Basel capital accord, known as Basel II, which will go in