BIS Review 61/2004  3  (i)  Risk management:  The advent of Basle II regime in a couple of years imposes a sense of urgency on both the regulators as well as the financial industry to put their act together as far as risk management is concerned.
I have very little doubt that the foreign banks operating in Pakistan will have any serious problems in making the transition successfully but I remain very much worried about our domestic banks - large, medium and small. Although we all have been talking about Basle II for sometime, our response in preparing ourselves have been at best patchy.