Audit & Compliance

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.

As per the Circular of Nepal Rastra Bank published on 8^th Poush 2076, for the A, B and C Class Banks, the Policy and Procedures related to Risk Assessment arrangement shall be conducted by the Magh 2076 by transaction monitoring, identifying the high risk customers and identification of suspicious transaction and reporting.

The KYC issue has been an agenda of hue and cry in the entire banking industry.  This has sometimes been realized as a big mystery or burden over the industry. However, there are limited efforts made to de-mystify the situation. There is a need to address it strategically so that it be solved permanently within existing legal and regulatory frameworks.  This is what is the objective of this KYC (Not entire AML) focused course.

As per the Circular of Nepal Rastra Bank published on 8^th Poush 2076, for the A, B and C Class Banks, the Policy and Procedures related to Risk Assessment arrangement shall be conducted by the Magh 2076 by transaction monitoring, identifying the high risk customers and identification of suspicious transaction and reporting.

The evolvement of financial instruments and markets has enabled banks to undertake varied risk exposures. Capital maintained by a bank under new Basel Capital Accord will be more closely aligned