On Mar. 10, UAE DFSA consulted on Basel III operational risk rules.
UAE DFSA issued consultation paper 164: Capital Requirement for Operational Risk.
Including Appendix 1: setting out Draft amendments to the Prudential – Investment, Insurance Intermediation and Banking (PIB) module.
Basel III Alignment
Sets out UAE DFSA’s proposals to implement revised standardized approach for calculating risk-weighted assets (RWA) for operational risk under Basel III framework.
Part of continued efforts to harmonize prudential regime with Basel III.
Aimed at authorized firms licensed to accept deposits, provide credit, or deal in investments as principal, as well as to potential applicants, auditors and advisers to these firms, and other industry participants.
