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 | Last updated February 19, 2008 | | | | | From the desk of the Secretary General
I am writing for the first time as the new Secretary General of ABA and I hope members banks will continue to strongly support the Association's various initiatives and programs planned for 2008.
The huge attendance at the 37th ASEAN BANKING COUNCIL MEETING on 2nd November 2007 in Hanoi, Vietnam has again signified the presence of a unified ' ASEAN SPIRIT' among all the member banks. This spirit is very much alive in the face of an ever-increasing pace of economic and financial integration of ASIA.
The event was generously hosted by the Vietnam Banks Association and Vietinbank. Coupled with their meticulous organisation, it was an attestation of their strong commitment to this ABA's event.
At the meeting, several new initiatives and follow-up programs were proposed and subsequently approved for implementation in 2008. Every member fervently supported the establishment of a task force (one representative from each member country) to study the ASEAN-wide Loss Data Collection initiative. Despite member banks being at different levels of development impeding the integration process in this and other new operation risk framework, the objective is to turn this into a working sub-committee.
All members agreed to organise a follow-up seminar on investment and project finance opportunities in Cambodia, Indonesia, Laos, Myanmar, the Philippines and Vietnam. This is timely, in view of the rapid growth in intra-regional trade and cross-border investments. The seminar is likely to be held in the second quarter of 2008 and Mr Tay Kah Chye, our Honorary Advisor has agreed to conduct the seminar while enjoying his retirement!.
This should create further opportunities to link financial systems and facilitate accessibility and greater flow of capital among member banks' countries.
The inter-regional relations committee proposed to organise another study mission to more advanced countries, possibly Australia. The objective is to acquire more knowledge of the workings of their advanced banking system, regulatory requirements and in particular, infra-structure support in their readiness towards Basel's implementation.
Member banks continue to pledge their support to assist newer member banks in their training needs as well as to explore more financial aids from various international organisations to this end. Training is key to their educational and developmental needs in their transformation from planned economies to a more market based system.
After the Council Meeting, leaders of all the ASEAN National Banking Association met up with the Deputy Prime Minister and Minister for Foreign Affairs, His Excellency Pham Gia Khiem for a round-table discussion.
Wishing everyone a Happy and Prosperous 2008! | | | | | | |
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