PIB 6.11.2
(1) An Authorised Firm must, subject to (2), use the Basic Indicator Approach as prescribed in PIB App6 to calculate its Operational Risk Capital Requirement .
(2) An Authorised Firm may, with the written approval of the DFSA , use the Standardised Approach or the Alternative Standardised Approach , both as prescribed in PIB App6, to calculate its Operational Risk Capital Requirement if the DFSA is satisfied that:
(a) its Governing Body and senior management, as appropriate, are actively involved in the oversight of its Operational Risk framework;
(b) it has, in accordance with the requirements set out in this chapter, implemented and maintains an Operational Risk policy which provides for a sound and well-defined risk management framework to address the Authorised Firm's Operational Risk ; and
(c) it has dedicated sufficient resources in the use of the relevant approach in its major business lines and its control and audit functions.
Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]