Money, Finance and Banking Blog in Pakistan
Posts tagged Basel II
Fraud and Forgery Cases Rising in Banking Sector
Jun 14th
Operational risk framework’s importance has increased manifold due to heightened volatility, increased frequency of unforeseen incidents, and the current global financial turbulence.
State Bank of Pakistan (SBP) has mentioned following to be the major issues related to operational risk faced by banks:
- People risk – Lack of awareness / proper training programs / non-following of policies & procedural manuals
- System risk – Heavy reliance on systems, system down time, minor / major bugs, miscalculations etc.
- Internal / external events – Fire incidents, political disruptions, earthquakes, floods etc.
- Fraud & forgeries
Rapid changes in technology – while having provided automation, increased efficiency and source of competitive advantage – have increased More >
Allied Bank Limited (ABL) Inks Deal with SAS Institute Inc. to Establish Risk Framework
Jun 2nd
Allied Bank Limited (ABL) has entered into an agreement with SAS Institute Inc., the leader in business analytics, to establish an enterprise-wide risk framework to meet regulatory requirements such as Basel II, enhance its credit ratings and build up the Bank’s consumer portfolio.
“Allied Bank strives to adopt the latest advancements in an ever changing technological environment. In line with our technological upgrade plans, we are delighted to initiate the process of deploying a suite of Risk Management Solutions from one of the leading global firms, SAS Institute Inc.,” said Mohammad Aftab Manzoor, CEO, Allied Bank. The solution is a cutting edge More >
