Asean bank licence passporting won't have desired effect: ADB expert
As the Philippine central bank seals its first deals under a new cross-border framework, doubts remain as to whether treasurers will benefit as banks struggle with ingrained differences between the region's markets.
More Philippine banks will be allowed to operate subsidiaries in other Association of Southeast Asian Nations (Asean) states – and vice-versa – after the country's central bank agreed its first deal with a peer under the Asean Banking Integration Framework (ABIF) and announced plans for two more.
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