Kuwait approves implementation of amended Capital Adequacy Ratio
Kuwait: The governor of Kuwait's Central Bank (CBK) has told newswire Kuna that the bank's board of directors have approved the implementation of the amended Capital Adequacy Ratio (Basel II) on local Islamic banks, starting from June 30. The major factors that have been amended are the minimum capital requirements, supervisory review of capital adequacy and market discipline. Local Islamic banks will continue complying with the minimum capital adequacy ratio applied by the CBK, which is 12%, while the rate proposed by Basel Committee on Banking Supervision is 8%, he said. [AMEInfo.com]
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