Under Basel I, the regulatory capital is driven solely by credit risk, and therefore the requirement tends to be too low for activities that do not entail much credit risk but do expose the bank to operational risk.
I am delighted to be present here with you all, to award and recognise the efforts of our winning students for this important initiative – the “be Money $ (bMW) Essay competition. I am also grateful for the support of the school principals, teachers and parents of these students.