Primary agenda of the meeting included 'standardized suitable fee for the assessors, issuance of certificates under the National Qualification Frame work (NVQF), improvement in monitoring system, escalation of assessment standards of NVQF, increase in the technical efficiency and capacity of QABs
, maintain data on NVQF Registry, making the NVQF National Support Unit active and accreditation of institutes in all provinces'.
Tetangco previously said that the LOI 'formalizes our intention to eventually craft the specific provisions that will govern the entry of QABs
between our two countries.'
are 'strong and well-managed banks, headquartered in Asean and majority owned by Asean nationals.'
Sources said the BSP's Financial Supervision Sector (FSS), formerly the Supervision and Examination Sector, is currently finalizing negotiations with both Indonesia and Malaysia to set down the parameters of establishing QABs
which is a crucial part of regional banking integration under the ASEAN Economic Community agreements launched three years ago.
Hadad signed the letter of intent (LOI) in Jakarta, which the BSP chief said 'signifies our intention to further explore areas of cooperation between our banking systems, especially on the entry of QABs
Manila: The Bangko Sentral ng Pilipinas (BSP) and Bank Negara Malaysia (BNM) have agreed on the guidelines regarding the entry of Qualified ASEAN Banks (QABs
) between the two countries.
ABIF is designed to realize the vision of One ASEAN Community, using these QABs
as the vehicle for maximizing the vast trade and investment potential of ASEAN.
The agreement has agreed to the guidelines for the entry of Qualified ASEAN Banks (QABs
) in the two countries.
Tetangco and BoT Governor Veerathai Santiprabhob also signed a Letter of Intent, formalizing the intention of both parties to craft specific provisions that will govern the entry of QABs
between the two countries.
Qualified ASEAN Banks (QABs
) will lead the initiative.
It sets out the definition of Qualified Asean Banks (QABs
), which entails the presence of Malaysian and Indonesian banks in each other s jurisdiction.
The Bangko Sentral ng Pilipinas, meanwhile, will sign additional agreements for the establishment of so-called qualified Asean banks (QABs