GCC panel discusses credit risks, bank standards 

(MENAFN - Arab News) The monitoring and supervising committee on the banking system in GCC countries held its 26th meeting recently at the GCC's Secretariat General.

The meeting discussed the mechanism for implementing the committee's decisions in accordance with the unified standards for banking monitoring of the GCC countries. The following up of the implementation of these standards is a precursor for permanent commitment toward working with them. The meeting also discussed a paper prepared by Qatar Central Bank entitled, "Management Credit Risk".

A paper on the mechanism of credit information exchange in the GCC countries was also discussed. Results were reviewed of the discussion session held in February at the Riyadh Institute of Banking.

Corporate governance, risk management and risk-based supervision were also discussed during the meeting, as was the arrangement to participate in the 17th International Conference for Bank Supervisor ICBS, scheduled 11-14 Sep. 2012 in Istanbul, Turkey.

The approximate credit risk measures for the GCC countries, the composites and the means to measure credit percentage against deposits of the GCC countries and the supervisory management of the instruments issued by the International Liquidity Management and the follow up steps the GCC countries are taking to apply Basel lll were also topics during the meeting.