The South East Asian Central Banks Research and Training Centre, generally referred to as the SEACEN Centre or simply SEACEN, is an international organization which brings together central banks from Asia for joint educational, research and other initiatives. SEACEN started in 1966 as an informal initiative of central bankers from Southeast Asia, an origin that remains in its name. As early as its formal establishment in 1982, however, it had already broadened to participants from other parts of Asia, a trend that has been reinforced since then.
History
editSEACEN started as an unofficial grouping of central banks governors from the International Monetary Fund's Southeast Asia Voting Group. The first meeting of that group was held in Bangkok on 3–4 February 1966, with participating governors from the National Bank of Laos, Central Bank of Malaysia, Central Bank of the Philippines, Central Bank of Sri Lanka, National Bank of Vietnam, Bank of Thailand, and an official from Singapore. The meeting was co-chaired by Ismail Mohamed Ali (Malaysia) and Puey Ungphakorn (Thailand).[1]
At the next meeting in 1967, which took place in Manila, the governors decided to establish a joint training center in Kuala Lumpur. This vision advanced in 1972, when the governors deciding to established the SEACEN Research and Training Centre in which staff from the Malaysian central bank would train colleagues from other countries. Eventually, at their 17th meeting in Thailand on 3 February 1982, eight governors signed an agreement to establish the SEACEN Research and Training Centre as an autonomous entity.[2]
Since 1992, SEACEN has had ongoing formal engagement with Taiwan, including its central bank but also other authorities such as the Central Deposit Insurance Corporation in Taipei.[3] In 2011, the year when the People's Bank of China joined SEACEN, the Central Bank of the Republic of China (Taiwan) protested after SEACEN referred to it inaccurately as "Central Bank, Chinese Taipei".[4]
Membership
editAs of early 2024, the membership of SEACEN is at follows, with indication of date of accession for ordinary members:[2]
- Ordinary members: Bank Indonesia (1982), Central Bank of Malaysia (1982), Nepal Rastra Bank (1982), Bangko Sentral ng Pilipinas (1982), Monetary Authority of Singapore (1982), Central Bank of Sri Lanka (1982), Bank of Thailand (1982), Central Bank of Myanmar (1982), Bank of Korea (1990), Central Bank of the Republic of China (Taiwan) (1992), Bank of Mongolia (1999), Brunei Darussalam Central Bank (2003), Bank of Papua New Guinea (2005), National Bank of Cambodia (2006), State Bank of Vietnam (2006), People's Bank of China (2011), Bank of the Lao P.D.R. (2012), Reserve Bank of India (2013), and Hong Kong Monetary Authority (2014)
- Associate members: Reserve Bank of Australia, Bangladesh Bank, Royal Monetary Authority of Bhutan, Monetary Authority of Macao, State Bank of Pakistan, National Reserve Bank of Tonga, Reserve Bank of Vanuatu, and Reserve Bank of Fiji
- Observers: Da Afghanistan Bank, Central Bank of Iran, Bank of Japan, Maldives Monetary Authority, Reserve Bank of New Zealand, Central Bank of Samoa, Central Bank of Solomon Islands, and Banco Central de Timor-Leste
Associate Members are invited to participate in all SEACEN learning programs and to the annual SEACEN high-level event involving Governors. Observers are invited solely to participate in SEACEN learning programs.[2] The roles of SEACEN Chair and co-chair are rotated on an annual basis among ordinary members.[1]
Notes
edit- ^ a b "South East Asian Central Banks (SEACEN)". Bank of Thailand.
- ^ a b c "International Economic Cooperation: SEACEN". Bangko Sentral ng Pilipinas.
- ^ "SEACEN Centre Adviser Michael Joseph Zamorski paid a visit to CDIC on 6 November 2015". Central Deposit Insurance Corporation. 16 November 2015.
- ^ "Central bank protests name change in SEACEN". Taiwan Today. 14 February 2011.