-ASEAN nations to create ASEAN Bank system.ASEAN ASEAN: see Association of Southeast Asian Nations.
in full Association of Southeast Asian Nations
International organization established by the governments of Indonesia, Malaysia, the Philippines, Singapore, and Thailand in Bank system(C)2012 ENPublishing - http://www.enpublishing.co.uk
Global Banking News - 07 March 2012
Central banks of member nations of the Association of Southeast Asian Nations Association of Southeast Asian Nations (ASEAN), organization established by the Bangkok Declaration (1967), linking the nations of Indonesia, Malaysia, Philippines, Singapore, and Thailand. (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 On the sidelines
An investor who decides not to invest due to market uncertainty.
on the sidelines
Of or relating to investors who, having assessed the market, have decided to avoid committing their funds. of the ASEAN finance ministers meeting in Phnom Penh later this month.
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