Dhaka, Bangladesh (BBN) – The Islami Bank Bangladesh Limited (IBBL) is working to implement the Basel-III framework within the stipulated timeframe set by the Bangladesh Bank (BB) earlier.

As part of the move, the IBBL organised a meeting for senior officials held at its Mohammad Younus Auditorium in the capital Dhaka on Saturday.

Mohammad Abdul Mannan, Managing Director of the IBBL, addressed the programme as chief guest. Presided over by Md. Abdul Jabbar, Executive Vice President and Head of Risk Management Wing of the Bank, Chowdhury Md. Feroz Bin Alam, General Manager and Dipti Rani Hazra, Joint Director, Banking Regulation and Policy Department of Bangladesh Bank presented key note papers on Basel-III and Basel-II respectively in the programme.

Muhammad Abul Bashar, Md. Habibur Rahman Bhuiyan, FCA, Md. Mahbub-ul-Alam Deputy Managing Directors along with top executives of the bank were present at the meeting.

Mohammad Abdul Mannan said accountability, discipline and confidence have been established in the banking sector through implementation of Basel policies.

He also said that the IBBL is liable to its entire people. “The bank keeps its competency in implementing BASEL policies.”

He called upon the executives to play pioneering role in the Banking sector in compliance of Basel policies by pursuing expertise on it

The central bank has already started preparations to implement the Basel-III by January 2019.

The Basel-III is a new global regulatory standard on bank capital adequacy and liquidity, agreed upon by the members of the Basel Committee on Banking Supervision.

Bangladesh is now implementing the Basel-II accord to consolidate capital base of the banks in line with the international standard.

It has been prepared on the basis of three pillars: minimum capital requirement, supervisory review process and market discipline.

Three types of risks – credit risk, market risk and operational risk – have to be considered under the minimum capital requirement.

BBN/SSR/AD-07Mar15-9:33 pm (BST)