A Bank must have risk management framework to provide a coherent foundation for effective management of key risks.  Also, a Bank must have minimum standards of a sound risk management system as follows:

  • Active Board as well as Senior Management Oversight;  
  • Risk Management Department as well as Various Committees;
  • Policies and Procedures;
  • Appropriate Management Information System; and
  • Comprehensive Internal Controls and Limits.                                                                                                                                                                                                                                                                               

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