Asian banks should play major role in region's economy
by Lalin FERNANDOPULLE
 Asian banks are in a better position to face risk than many banks in
the other regions, said HNB Managing Director/CEO and Asian Bankers'
Association (ABA) Chairman, Rajendra Theagarajah.He was addressing the
28th ABA general meeting and Conference on Tuesday.
He said Asian banks are far better in meeting Basel II and III
compliance than many banks in Europe which are still grappling with
financial turmoil.
The ABA meeting and conference was hosted by Sri Lanka for the first
time which is a landmark achievement for the banking industry in the
region. The theme of this year's conference was "Asia Taking the Lead in
the Global Economy: A Bankers' Perspective".
The objective of the conference was to explore and understand the
responsibilities of Asia in the global economy and how Asia will play a
leading role in the future, exchange ideas on challenges and
opportunities for Asian banks and discuss international regulatory
standards and the way forward.
Theagarajah said the conference is an ideal forum to promote policy
advocacy as Asian banks have a major role to play in the global economy.
"HNB is honoured to host the conference as it gave HNB the
opportunity to share with ABA members the renewed optimism and
enthusiasm of Sri Lankans on the country's future", he said.
Set up in 1981, ABA is the largest grouping of banks and financial
institutions in the Asia-Pacific region. Its membership comprises around
100 leading banks from 25 countries in the region.
ABA aims at providing a forum for advancing the cause of banks and
financial institutions in the region and promote regional economic
cooperation.
"The banking sector in Japan has done well despite the spate of
natural catastrophes due to its compliance and adaptation of best
practices. Banks need structural readiness to face risks", Theagarajah
said.
HNB Deputy General Manager Marketing and Retail Banking, Chandula
Abeywickrema said that the conference focused on how banks could help
develop Asia by promoting a vibrant intra-regional trade and investment.
Experts from the banking sector and government shared their views on
business models of Asian banks, their role in the global stage,
relevance and applicability of Basel II and III , challenges and
opportunities for banks in China and India , financial inclusion and
risks faced by banks.
The conference was attended by representatives from banks in USA,
Europe and Asia.
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