Pillar I too complex for small countries
Zambia – The complexity of the new Basel Accord's Pillar I is forcing smaller, resource-constrained countries to delay their implementation of the aspect of the Accord that involves the determination and measurement of minimum capital requirements.
While their developed counterparts in Europe and North America have already started rolling out implementation plans for the Basel II, smaller countries, such as Zambia, are only beginning to plan their Accord implementation.
The Bank of Zambia has started setting up the framework for the implementation of Basel II, which will spell out the timetable for banks, according to Denny Kalyalya, the deputy governor for operations at the Central Bank of Zambia.
"Due to the complexities of Pillar I, it
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