Identifier
Created
Classification
Origin
06MUSCAT1596
2006-11-15 12:50:00
UNCLASSIFIED
Embassy Muscat
Cable title:
CENTRAL BANK PRESIDENT OPENS BASEL II WORKSHOP
how-toVZCZCXYZ0001 RR RUEHWEB DE RUEHMS #1596 3191250 ZNR UUUUU ZZH R 151250Z NOV 06 FM AMEMBASSY MUSCAT TO RUEHC/SECSTATE WASHDC 7411 INFO RUEHAD/AMEMBASSY ABU DHABI 0822 RUEATRS/DEPT OF TREASURY WASHDC
UNCLAS MUSCAT 001596
SIPDIS
SIPDIS
STATE FOR NEA/ARP, EB/IFD/OMA
ABU DHABI FOR GMULLINAX
E.O. 12958: N/A
TAGS: ECON EFIN PREL MU
SUBJECT: CENTRAL BANK PRESIDENT OPENS BASEL II WORKSHOP
UNCLAS MUSCAT 001596
SIPDIS
SIPDIS
STATE FOR NEA/ARP, EB/IFD/OMA
ABU DHABI FOR GMULLINAX
E.O. 12958: N/A
TAGS: ECON EFIN PREL MU
SUBJECT: CENTRAL BANK PRESIDENT OPENS BASEL II WORKSHOP
1. On November 13, Oman Central Bank Executive President
Hamoud bin Sangour al-Zadjali opened a three-day workshop for
Central Bank and commercial banking personnel on the
requirements of the Basel II accords. In his remarks,
ZadjaliQoted that the Central Bank would begin implementing
the Basel II norms beginning in January 2007. He stressed
the importance of the accord in promoting a risk-management
framework, and commented that bank actQns taken to abide by
the norms of the three main pillars (minimum capital
requirement, supervisory review process, and market
discipline) would strengthen the sector and free-up capital
for economic development. The workshop, sponsored by the
Central Bank and the U.S. Department of Treasury, featured
presentations from U.S. Treasury regional advisors George
Mullinax, George Hanc, and Robert Demler on topics including
the 25 Basel basic core principles, tenets of Pillars I and
II, and supervisory decisions under Basel II.
GRAPPO
SIPDIS
SIPDIS
STATE FOR NEA/ARP, EB/IFD/OMA
ABU DHABI FOR GMULLINAX
E.O. 12958: N/A
TAGS: ECON EFIN PREL MU
SUBJECT: CENTRAL BANK PRESIDENT OPENS BASEL II WORKSHOP
1. On November 13, Oman Central Bank Executive President
Hamoud bin Sangour al-Zadjali opened a three-day workshop for
Central Bank and commercial banking personnel on the
requirements of the Basel II accords. In his remarks,
ZadjaliQoted that the Central Bank would begin implementing
the Basel II norms beginning in January 2007. He stressed
the importance of the accord in promoting a risk-management
framework, and commented that bank actQns taken to abide by
the norms of the three main pillars (minimum capital
requirement, supervisory review process, and market
discipline) would strengthen the sector and free-up capital
for economic development. The workshop, sponsored by the
Central Bank and the U.S. Department of Treasury, featured
presentations from U.S. Treasury regional advisors George
Mullinax, George Hanc, and Robert Demler on topics including
the 25 Basel basic core principles, tenets of Pillars I and
II, and supervisory decisions under Basel II.
GRAPPO