The South East Asian Central Banks (SEACEN)
The history of the SEACEN began in February 1966, as a group of governors of some South East Asian central banks met in Bangkok, Thailand, to exchange information and ideas on matters affecting their economies and financial systems. The meeting was attended by 7 heads/representatives of the central banks and monetary authorities of Laos, Malaysia, the Philippines, Singapore, Sri Lanka, Thailand and Vietnam. Since then the Conference was held annually with the member banks of SEACEN playing host by rotation.
The discussions during the initial annual meetings were focused on the exchange of information and ideas on economic and financial conditions of the individual countries. Much emphasis was placed on the setting up of a South East Asian voting group to represent the interests of SEACEN countries in the International Monetary Fund, the International Bank for Reconstruction and Development (now known as the World Bank), and the Asian Development Bank. It is now a matter of record that the South East Asian Voting Group was subsequently established and is still in existence although the composition of the Voting Group is not exactly the same as the membership of the SEACEN Centre.
In 1972 the idea of establishing the SEACEN Centre as a regional research and training center was brought to reality at the Seventh SEACEN Governors' Conference. In that same year, the SEACEN Centre started to operate on an informal basis and offered its first course on Management of Financial Institutions with twenty-two participants.
On the 3rd of February 1982 the Agreement to set up the SEACEN Research and Training Centre was formally signed in Bangkok. Since then the SEACEN Centre has served to promote a better understanding on financial, monetary, banking and economic development among staff of central banks and monetary authorities in the region.
The objectives of the SEACEN Centre as stated in the memorandum and Articles of Association of the South East Asian Central Bank (SEACEN) Research and Training Central, dated 27 February 1982, are:
To promote a better understanding of the financial, monetary, banking and economic development matters which are of interest to the central banks and monetary authorities of the countries in South East Asia or of interest to the region as a whole; and
To stimulate and facilitate cooperation among central banks and monetary authorities in the area of research and training.
3. Current Members
Since its establishment, the members of the SEACEN Centre have grown. There are currently 19 member central banks and monetary authorities which are:
1. Bank Indonesia
2. Bank Negara Malaysia
3. Nepal Rastra Bank
4. Bangko Sentral ng Pilipinas
5. Monetary Authority of Singapore
6. Central Bank of Sri Lanka
7. Bank of Thailand
8. Central Bank of Myanmar
9. The Bank of Korea
10. Central Bank, Chinese Taipei
11. The Bank of Mongolia
12. Autoriti Monetari Brunei Darussalam
13. Reserve Bank of Fiji
14. Bank of Papua New Guinea
15. National Bank of Cambodia
16. State Bank of Vietnam
17. People's Bank of China
18. Bank of the Lao PDR
19. Reserve Bank of India
In addition to the full membership, the SEACEN Centre has one "observer" central bank which is National Reserve Bank of Tonga. The "observer" central bank is granted the privilege of attending the annual SEACEN Governors' Conference, which is the forum to exchange information, experiences and views on financial, monetary, banking and economic developments in the respective countries as well as the region.
Governor's Bank of Thailand
Conference Year Governor's Bank of Thailand
1 1966 Dr. Puey Unphakorn
2 1970 Dr. Puey Unphakorn
3 1982 Mr. Nukul Prachuabmoh
4 1989 Mr. Kamchorn Sathirakul
5 1997 Mr. Rerngchai Marakanond
6 2007 Dr. Tarisa Watanagase
7 2017 Dr. Veerathai Santiprabhob