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CHINA / Taiwan, HK, Macao |
Macao bank resumes self-management right(Xinhua)
Updated: 2007-09-30 08:58 MACAO - The government of the Macao Special Administrative Region (MSAR) has returned the management control to the local bank Banco Delta Asia, according to an official statement issued Friday. The statement from the Monetary Authority of Macao said the statutory mandate of the Administrative Committee, which was appointed by the government on account of the special intervention measures imposed on the bank expired on September 28, 2007. The resumption of the management control by the bank was due to the improvement made in the bank's management and the persistent request of Stanley Au, the original shareholder, said the statement. The Monetary Authority will, as usual, perform the necessary supervisory duties to safeguard the interests of depositors and to maintain the stability of the financial system of MSAR, it added. The bank was alleged by the United States of being involved in an international money laundering case in 2005. |
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