As Banks are already aware the Basel committee has set out the International Convergence of Capital Measurement and Capital Standards - A Revised Framework (Basel II) in June 2004, which seek s to align capital requirements more closely to the underlying risk profile of the claims or asset classes. Accordingly, the Central Bank of Oman has setup an Implementation Group on Basel II with representation from seven local and foreign banks for rolling out a country specific implementation plan for adoption of Basel II, rendering technical assistance, etc.