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Few Local Basel Projects.
(From ITWeb (South Africa) - AAGM)
Byline: Iain Scott
Local banks are preparing their systems and processes for the introduction of the New Basel Capital Accord (Basel II), but there has been no real investment in Basel initiatives yet.
This is according to Marianne Prins, key account manager at Compuware Corporation SA.
She says there have not been many local Basel-related projects as "the eyes of financial leadership are on the European and US financial industries".
The current Basel Capital Accord was drawn up by the Basel Committee on Banking Supervision in 1988, but was later seen to be outdated. Basel II is set to be …
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