The BCBS, established by the Central Bank Governors of the Group of Ten (G-10) countries at the end of 1974, provides a forum for regular co-operation on banking supervisory matters. Its objective is to enhance understanding of key supervisory issues and improve the quality of banking supervision worldwide. It seeks to do so by exchanging information on national supervisory issues and approaches and techniques, with a view to promoting common understanding. The BCBS is best known for its international standards on capital adequacy; the Core Principles for Effective Banking Supervision; and the Concordat on Cross-Border Banking Supervision. Following the 2007-2009 global financial crisis, the membership of the BCBS has been expanded to the G-20 countries. For further details see: ISRA, Islamic Financial System; Principles and Operations.

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