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Section: General News - The group chief executive of Malaysia's CIMB Group puts the case for an Asean Banking Framework, the Bangkok Post reports.
The Association of South East Asian Nations must work harder to integrate the region's businesses if it wants the Asean Economic Community to become a reality in 2015, says a regional banking chief executive.
Dato' Sri Nazir Razak, group chief executive of Malaysia's CIMB Group, said that creating an "Asean Banking Framework" should be one of the first steps in the integration process.
"What is needed is a banking sector that is ready to serve the people when the Asean integration takes place in 2015," he said.
Regulators need to open the region's banking system to get the institutions running on the same platform to strengthen the regional financial system. …