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ALCHEMY LAUNCHES BASEL II PRACTICE
1st February 2005
Karachi, Pakistan - Alchemy Associates today announced the launch
of a new Basel II practice providing consulting and engagement
support and technology solutions to regional banks. As part
of the new practice Alchemy will provide expertise for:
1. Basel II gap analysis and assessment
2. Independent review of financial, credit and operational
risk management setups
3. Benchmarking and performance improvement for
Financial Risk Management Groups
4. Risk Adjusted Return, Risk Based Capital and
Risk based pricing paradigms
5. Basel II implementation support
6. Technology solutions for Market and Operational
Risk as per Basel II requirements
Jawwad Farid, the Chief Executive at Alchemy Associates on the
occasion said, “Given the recent Basel II road map announcement
by State Bank of Pakistan requiring banks to come with an implementation
plan for Basel II by 31st December 2007, there has been an immediate
spike in the demand for Basel II expertise. We are very fortunate
that we have been working in this area for some time now on
both consulting and technology fronts and are ideally positioned
to benefit from current demand”.
Alchemy Associates is a boutique risk management and actuarial
consulting firm with 20 employees and a growing portfolio
of blue chip customers in Pakistan and Middle East.
Basel II is a round of deliberations by central bankers from
around the world, under the auspices of the International
Bank of Settlements in Basel, Switzerland, aimed at producing
uniformity in the way banks and banking regulators approach
risk management across national borders.
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