Sign up | Log in



Home  >>   Daily News  >>   Asean News  >>Finance  >>ASEAN central banks need to be ‘proactive’: expert
NEW UPDATES Asean Affairs  5 September 2014  

ASEAN central banks need to be ‘proactive’: expert

CENTRAL banks in the region are urged to be proactive during period of financial turbulence to cushion its impact on the country’s economy.

“There could always be periods of turbulence but if you are more proactive, you can dampen those periods of turbulence and make sure that the economy remains stable,” said Michael Joseph Zamorski, advisor for financial stability and supervision at the Kuala Lumpur-based South East Asian Central Banks Research and Training Centre (SEACEN).

It’s a stable economy, Zamorski said, that allows banks to keep serving their customers.

He said this is especially true with the banks’ clients who are mostly small business owners and small businesses drive economic growth over long term.

Zamorski is currently in Brunei to lead a five-day foundational course on risk based supervision.

In an interview held at the sidelines of the workshop, Zamorski told The Brunei Times that banks in Southeast Asia have been “very fortunate” not to have experienced any crisis since the 1997 Asian financial meltdown.

He said bank supervisors have finite resources which means they would have to allocate these resources intelligently.

He also said one of the key lessons learned from the 2007 global economic meltdown and the Eurozone debt crisis is that people, including regulators, don’t fully understand new banking products and its risks.

“And by the time they did, some of the damage was done,” he said.

Regulators and monetary authorities need to introduce a mechanism that will allow them to efficiently understand these products.

“Credit risk lending is always going to be the number one risk for banks,” he said.

Zamorski said this is more crucial in Asia Pacific where the banking sector, and not the capital markets, provides most of the credit.

The five-day foundational course on risk based supervision, which ends tomorrow, aims to help participants identify factors that would weaken the financial sectors as well as the risks that may arise from these weaknesses.

The course is organised by the Autoriti Monetari Brunei Darussalam in collaboration with SEACEN.

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                            September 5, 2014 Subsribe Now !
• Business Summit Highlights ASEAN-US Economic Ties, Small Business Growth in the Region Subcribe: Asean Affairs Global Magazine
• VN economic recovery spawns more jobs
• ASEAN central banks need to be ‘proactive’: expert
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• Bangkok Bank is set to return to Cambodia
• Loan growth ready to take off
Asean Analysis                    September 5, 2014

• Asean Analysis September 5, 2014
Charity begins elsewhere
Advertise Your Brand

Asean Stock Watch    September 4, 2014
• Asean Stock Watch-September 4, 2014
The Biweekly Update
• The Biweekly Update  August 22, 2014

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