Banque Du Caire Starts Applying Basel II Regulations

Banque Du Caire has implemented the first phase of Basel II which includes calculating adequate capital rate held against credit, market and operational risks in Egypt. Application of Basel II is important as it guarantees risk management and adequate capital’s levels in Egyptian banks held against risks. In addition, Basel II requires implementing developed IT system in the banks.

Mounir El-Zahed, chairman of Banque Du Caire, said that the Bank is the first to apply Basel II regulations in Egypt before the deadline Central bank of Egypt set for banks at the end of December 2012, thanks to the Bank’s cadres who highly contributed in the Bank’s high rank among Egyptian banks. The new regulations will set certain risk weights for certain types of credit, market and operational risks.

It is worth mentioning that applying Basel II accord in Egypt is being implemented by an international company in collaboration with a team from Banque Du Caire, as part of the Bank’s strategy to cope up with banking development programs in Egypt.