Review of Credit Manual – Oman International Bank
We were appointed by OIB to verify the awareness of risk in the Bank, the screening procedures and risk management in the bank in general, that all necessary mechanisms and departments are in place within the bank’s organisation for efficient credit risk management. IGA further reviewed the existing credit manual on status and content in relation to the Bank’s strategy and operations, review workflow and processes documented in the manual in relation to actual work processes and confirm its compliance with internal, external regulations and Basel II.
The final report included assessment of the findings and formulation of recommendations for improvements during 2 visits, where by follow-up discussions with the Bank’s management were held on:
Methodologies and timing of the implementation of the changes proposed in the Report;
Further assistance in development of the Bank’s Credit Risk Manuals;
Implementation of the recommended changes throughout the Bank.