Basel Committee criteria 4: reading between the foundation pillars and the requirements for the continuity of modernization
Preparation of doctoral student / Alia Thayer Mardan

The Basel Committee on Banking Supervision was formed in 1974 as a reaction to the serious failures in the currency market and international banks, as these severe disruptions led the financial markets to collapse, decrease capital in banks, and increase global risks, The Basel Committee on Banking Supervision is an advisory body working and concerned with the topics of capital regulation and banking stability, it aims to issue recommendations on adequate supervision of the international banking sector and promoting competition. The committee was established by the governors of the central banks of the group of ten (10g countries), which usually meets in Basel, Switzerland, in place of its permanent secretariat. This committee is under the auspices of the Bank for International Settlements (BIS), an international organization that promotes International Monetary and financial cooperation and acts as a central bank for banks; the Basel Committee has no official authority, as it is a response to disturbances occurring in international financial markets such as the collapse of the Bretton Woods system or the closure of some banks.

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