Economy News

The Central Bank commits commercial banks to the capital adequacy standard

The Central Bank of Iraq (CBE) has committed all commercial banks to the minimum capital adequacy standard.

“In order to keep abreast of developments in the global banking system and in order to reach the Basel Committee’s decisions, banks will have to adhere to the minimum capital adequacy criteria,” the central bank said in a statement read by Al-Iktissad News.

He added that “the minimum limits will be based on the method of calculation adopted in accordance with the conventional bands.” Source