The BMA is to host an important seminar for bank directors, to raise awareness of the corporate governance implications of the new Basel II regulatory framework for banks.
The seminar, to be held on 7 June 2006 in Manama, is by invitation only, and is being targeted specifically at directors of Bahraini-incorporated banks. It has been designed in co-operation with the Institute for International Finance: the IIF is the world’s leading international banking association. A select panel of respected international speakers will cover the implications of Basel II for banks directors, from a variety of perspectives.
Rasheed M. Al-Maraj, Governor of the BMA, commented, “Basel II represents the biggest change to banking regulations in nearly 20 years. Its emphasis on the management of capital and risks means it is not simply a compliance exercise; rather, it has profound implications for the way banks manage their business. Those banks that succeed in properly implementing Basel II can secure an important competitive advantage: this event aims to help Bahraini banks secure this advantage.”
He further added, “This subject is too important to be ignored. We expect all those invited to be represented; and I am pleased to say that the response so far has been very positive.”
The seminar forms part of on-going efforts by BMA to prepare for the implementation of Basel II. Besides conferences and seminars aimed at raising awareness levels, the BMA established in 2005 four industry working groups, each focused on a particular aspect of Basel II. Following the recent completion of the work of these groups, BMA will be publishing by late summer draft implementing regulations, for public comment. These will be fnalised and issued in 2007, to allow a sufficient transition period prior to implementation in 2008.