The aftermath of the 2008-2012 global financial crisis underscored the deficiencies in existing prudential regulatory frameworks, prompting a call for comprehensive reforms. A critical lesson learned was the inadequacy of banking sector capitalization, revealing vulnerabilities that threatened financial stability. Moreover, previous financial crises have illuminated the limitations of solely prioritizing price stability as a monetary policy objective. It has become increasingly evident that while robust micro prudential regulations and supervision are essential, they alone are insufficient to mitigate risks to financial sector stability. In response to these lessons, monetary authorities must embark on initiatives aimed at enhancing the resilience of the financial sector. This involves fortifying regulatory mechanisms to complement existing guidelines, thereby bolstering the sector's ability to withstand shocks and crises