Basel I: SBP implemented Basel I in 1997 vide BPRD Circular # 36 of November 4, 1997. However, these guidelines only accounted for credit risk faced by the banks. Subsequently, vide BSD Circular # 12 of August 25, 2004, another version of Basel I framework was introduced which included criteria for the calculation of risk weighted assets for market risk as well.
Basel II: SBP implemented Basel II in 2008 vide BSD Circular # 8 of June 27, 2006. The subject guidelines required the banks to calculate their risk based capital (CAR) against credit, market and operational risks under Pillar 1 whereas rest of the risks are to be covered under Pillar 2.
Basel III: SBP implemented Basel III in phased manner staring from December 31, 2013 to December 31, 2019 wherein CAR + CCB requirements are to be increased from 10% to 12.50% in a gradual manner.