Devakula: Efficiency enhancements, risk management

In the speech 'Efficiency enhancements and risk management' given on 16 March M R Pridiyathorn Devakula of the Bank of Thailand said one cannot simply reduce risks by relying on risk management process alone.

An effective risk management system has to be supported by proper governance of the bank's Management and its Board of Directors.

One of the painful lessons of the 1997 crisis was that improper governance practices at the Board level were amongst the root causes of the downfall of too many

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