Asian Bankers Association & Japanese Bankers Association sign agreement
TAIPEI - The Asian Bankers Association (ABA) and the Japanese Bankers Association (JBA) signed a Memorandum of Understanding on Tuesday, aimed at taking more concrete steps for cooperation in the future, creating a platform for exchange, boosting the econ
This news comes after Chinatrust Financial Holding Company CEO Daniel Wu assumed the role of head of the ABA, after which he has since sought more cooperation opportunities with foreign bankers associations in the hopes of leveraging the critical and influential power of Asia in the global finance arena, stated Chinatrust.
Wu and the head of the JBA, Yasuhiro Sato, represented their respective organisations in the signing.
Wu said in his opening remarks that the partnership with JBA will help in the development of the banking system at a time when the world is facing grave economic challenges.
“Bankers in Asia must strengthen cooperation with one another,” stressed Wu.
Wu said the MOU will serve as a communication platform to share management advice, experience, financial information and business opportunities. At the same time, they said an objective is to encourage regional trade, industrial and investment plans, and foster further cooperation among financial institutions in Asia.
Witnesses of the signing of the MOU included ABA Secretary-Treasurer Tseng Ching-yuan, ABA Vice Secretary-Treasurer Huang Chang-fu, JBA Vice Chairman Shin Takagi, JBA Director Hideharu Iwamoto and Tokyo Star Bank CEO Masaru Irie among others.
Recognised by the Asian Development Bank, the ABA was established by Chinatrust founder Jeffrey Koo 34 years ago. Members come from 26 economic entities, including around 100 banks, including Bank of Tokyo-Mitsubishi UFJ, Mitsubushi UFJ Trust & Banking Corporation, Mizuho Bank, Sumitomo Mitsui Banking Corporation and 16 financial institutions from Taiwan.
The first exchange between the JBA and the ABA was in 2013, when the ABA held a training program in Japan and arranged for JBA members to visit. Later, the ABA was the only financial institution representing Asia invited to attend the Basel Committee on Banking Supervision’s meeting in 2015, and invited JBA members to participate with them.
The ABA stated both parties hold shared beliefs and both hope for more opportunities to discuss government policies regarding finance, and formally signing the MOU marks the first step of future cooperation.
Besides the JBA, the ABA has also signed partnership plans with various international associations including the Mongolian Bankers Association, the Thai Bankers’ Association, the Association of Professional Bankers, Sri Lanka, the Vietnam Bankers Association, the Association of Russian Banks and the Bankers Association of the Philippines among others.
