-ASEAN nations to create ASEAN Bank system.
Global Banking News - 07 March 2012
Central banks of member nations of the Association of Southeast Asian Nations (ASEAN) are to set up an 'ASEAN bank' system.
The system would make it easier for banks to set up subsidiaries and operate throughout the region. The plan is part of a bigger initiative to integrate the region's financial markets in line with ASEAN's goal to create an economic community by 2015.
Proposals in this regard are due for discussion on the sidelines of the ASEAN finance ministers meeting in Phnom Penh later this month.
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