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Islamic Finance Briefing - Categorized | Accounting and Audit, Banking, Compliance, Tax, Legal, Regulatory more

Effective control of Basel III rules urged

Posted on 24 May 2012

“The Basel III rules are almost rendered meaningless without effective supervision. They should be implemented in full on a timely and sustainable basis,” said William Coen, Deputy Secretary General of the Basel Committee on Banking Supervision, Bank of International Settlements (BIS), the group of 27 Governors of Supervisory Authorities that set the rules of the game for international banking.
This is a challenge for any standard-setting body in international financial services, including IOSCO (International Organization of Securities Commissions), IASB (International Accounting Standards Board), IFSB (Islamic Financial Services Board), and AAOIFI (Accounting and Auditing Organization for Islamic Financial Institutions)………………………………………..Full Article: Source

 
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