Sign up | Log in



Home  >>   Daily News  >>   Asean News  >>   Finance  >>   Asean Banking system by 2020 ?
NEWS UPDATES Asean Affairs    14 November 2012 

Asean Banking system by 2020 ?


The Bangko Sentral ng Pilipinas (BSP), the Philippine central bank, has called on its counterparts in Southeast Asia to start working on the standardisation of banking regulations in the region to meet the goal of having a fully integrated Asean banking system by 2020.

BSP Governor Amando Tetangco Jr. said that under the plan, a bank in one Asean country would be allowed to operate in another member-country under the same terms and conditions that applied to local banks.

Tetangco said the standardisation of banking regulations might sound ambitious, but starting the necessary work early would help the 10-member Association of Southeast Asian Nations (Asean) realise the goal on time.

“Asian Banking Integration Framework (Abif) is a major initiative in itself but with the aggressive timeline, it is an ambitious undertaking … But the world should not underestimate the resolve of the Asean leaders to pursue and achieve this desired architecture,” Tetangco said in a speech delivered for him by BSP Deputy Governor Nestor Espenilla Jr. during the membership meeting of the Asian Bankers Association.

He said harmonised regulations were necessary for the successful integration of the banking systems in the region. This is because with common regulatory systems, banks would feel more comfortable operating in foreign jurisdictions.

“Parity across jurisdictions is proposed under the Abif so that banking becomes ‘cost and policy neutral’ between one Asean jurisdiction and another,” Tetangco said.

This year’s gathering of members of the ABA, which ran from Nov. 12 to 13 in Makati City, tackled the issues and trends concerning Asian banks, such as strategies needed to remain resilient amid the ongoing crisis in the euro zone and the role of banks in the integration of Asean economies, which will start in 2015.

Rajendra Theagarajah, outgoing chair of ABA, said in a press conference that the roadmap for the integration of Asean banks by 2020 had already been completed.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
  Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories    14 November 2012   Subsribe Now !
• Asean+6 trade pact on agenda at summit  Subcribe: Asean Affairs Global Magazine
• WB, Japan to promote Thailand as Asean insurance hub Asean Affairs Premium
• Asean Banking system by 2020 ?
Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

• Obama, Wen Jiabao granted audience with Thailand’s King
• Philippine Airlines eyes stake in Cayman Islands carrier 
• Philippines to buy Canada machines for ammunition production
 • Foreign investments shrink in Philippines  
 • Malaysians urged to tap into China's market via Chinese diaspora  
Asean Analysis              12 November 2012
Advertise Your Brand
• Asean Analysis- November 12, 2012  
• Asean Weekly-  November 9, 2012 Sponsor Our Events

Asean Stock Watch     14 November 2012 

• Asean Stock Watch- November 14, 2012

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent

• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand