BANQUE SAUDI FRANSI
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the years ended December 31, 2008 and 2007 _______________________________________________________________________________________________
38 BASEL II PILLAR 3 DISCLOSURES
Under Basel II pillar 3, certain quantitative and qualitative disclosures are required, and these disclosures will be made available on the Bank’s website www.alfransi.com.sa and the annual report, respectively as required by the Saudi Arabian Monetary Agency.
39 Prospective changes in International Financial Reporting Framework
The Bank has chosen not to early adopt IFRS 8-Operating segments and IAS 1 (Revised) - Presentation of Financial Statements, which have been published and is mandatory for compliance for the Bank’s accounting year beginning January 1, 2009.
40 Comparative figures
Prior year figures have been reclassified wherever necessary to conform to current year presentation.
41 Board of directors approval
The consolidated financial statements were approved by the Board of Directors on January 20, 2009 corresponding to Moharram 23, 1430H.