Banks still rule the World – But how should banks be ruled ? |

Banks still rule the World - But how should banks be ruled ?


The impacts of the global financial-cum-economic crisis were more profound and pervasive than originally predicted. In Asia alone, if growth had not been stalled by the crisis over the past year, there would be 60 million fewer people living below the US$1.25 a day poverty line and around 100 million fewer living below $2 a day.
The global economic crisis was caused by overwhelmingly excessive levels of leverage in the financial system. Some argue that more transparency will lead to appropriate levels of self-regulation by banks and other private financial sector firms, while others argue for much greater levels of government regulation, without which future global financial crises will not be mitigated. While the debate and corresponding action for formulating principles and norms to stabilise the global financial system continues, it should also take into account social and environmental objectives. This could aid in the design and implementation of innovative forms of hybrid regulation that go beyond the false binary options of state command-and-control versus market self-regulation. Finally, those engaged in the debate, must consider the dramatic increases in corporate citizenship and new social enterprise models of private financial institutions.

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Dr. Sanjeev Khagram

Thursday, 03 December 2009
6.00 p.m. - 8.00 p.m.

FTSE Room, 9F Capital Tower
168 Robinson Road
Singapore 068912

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