Wed, Oct 04, 2006 - Page 12 News List

New ABA leaders announced in Taipei

By Amber Chung  /  STAFF REPORTER

McKinney Tsai (蔡友才), chairman of Mega International Commercial Bank (兆豐國際商銀), was selected yesterday to take over as chairman of the Asian Bankers Association (ABA), the group said yesterday.

Tsai will succeed Choi Dong-soo, advisor to the chief executive officer of South Korea's Shinhan Bank. Vu Viet Ngoan, chief executive officer of Bank of Foreign Trade of Vietnam, was chosen as vice chairman, succeeding Joseph Lyu (呂桔誠), chairman of King's Town Bank (京城銀行).

The ABA's 23rd general meeting was held in Taipei Monday and yesterday, with more than 200 participants from 17 countries.

The association issued two position papers, calling on governments to speed up adoption of Basel II and ensure preconditions in place for its effective implementation, including appropriate infrastructure, effective supervisory systems, and sound accounting and provisioning standards.

This year, ABA inked a memorandum of understanding on bilateral cooperation with Mongolian Bankers Association, which was established 15 years ago and has 12 member banks.

The Mongolians also signed a cooperation and exchange agreement with the Bankers Association (銀行公會), which will include staff training, the ABA said.

The ABA was founded by Jeffery Koo (辜濂松), chairman of Chinatrust Financial Holding Co (中信金控), in 1981.

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