NBI is pleased to announce the program on 'Overview of AML/CFT' facilitated by some of the leading professionals and experts of the industry.
As the size and complexity of financial institutions have increased, so have the challenges of understanding and reducing risks down to truly manageable levels by implementing internal controls. An effective Internal Audit function is the vital component that independently and objectively evaluates the risk management and assesses the adequacy, appropriateness and effectiveness of controls and compliance with the Bank’s systems and procedures.
BIS issued “Basel III: A global regulatory framework for more resilient banks and banking system” in 2010 in order to strengthen global capital and liquidity rules with the goal of promoting more resilient banks. The reform was a response to financial crisis 2008 and to improve the banking sectors ability to absorb the loss on a going concern basis.
Accordingly, NRB issued directives to Commercial Banks to maintain their capital adequacy ratio as per New Capital Adequacy Framework designed based on Basel III requirement.
