The Quandary of Central Bank Digital Currencies

9 September 2020 @ 10.30 am (+8 GMT)

What an interesting time to work in financial services!  While we have no crystal ball to see the new world of digital payments, we can already see an emerging battle over retail payments between bank-centric card-based transactions and fintech-based digital wallets. As central banks watch these developments, they are trying to find their own roles. In our latest collaboration with the Asia School of Business,

“The Quandary of Central Bank Digital Currencies”

discussions will centre on central banks and their management of digital currencies. Will they offer an account-based digital currency or a value-based one? In either case, they face challenging design issues about anonymity, the payment of interest, and allowing overdrafts. Join Dr Eli Remolona, Professor of Finance, Program Director of Central Banking at the Asia School of Business as he shares his views on these challenges and discusses the key issue of how central banks are to manage the possible disintermediation of the banking system.

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Speaker Profile

Dr Eli Remolona, Professor of Finance, Program Director of Central Banking, Asia School of Business

Eli Remolona sits on the Board of Directors of the Bank of the Philippine Islands and is Adviser to the Academy of Finance in Hong Kong. He has published extensively on different topics in central banking and international finance and has been Associate Editor of the International Journal of Central Banking since 2005. Before joining the ASB in 2019, Eli worked for the Bank for International Settlements (BIS), where he was Head of Financial Markets and Editor of the BIS Quarterly Review, from 1999 to 2005, and then Chief Representative for Asia and the Pacific, from 2005 to 2018. In that capacity, he served as Secretary to the Asian Consultative Council, which is composed of the Governors of 12 central banks in the Asia Pacific region.

Before joining the BIS, Eli was Research Officer at the Federal Reserve Bank of New York. For 14 years, he was engaged in FOMC briefings and research on issues in international finance, financial markets and sovereign risk. Eli has taught at Williams College, Columbia University, New York University and the University of the Philippines. He holds a Ph.D. in economics from Stanford University.

Moderator: Prasad Padmanaban, Chief Executive, AICB

Prasad joins AICB after a sabbatical of about 1 year to travel and spend time with family. Prior to that, Prasad worked with the investment banks of MUFG in Hong Kong and JP Morgan in both London and Hong Kong as Executive Director in various Markets capacities over a period of 16 years, covering all manner of Asia-ex and Japan securities, from fixed income to equity derivatives. As an accomplished professional in the banking arena, Prasad brings to AICB a great mix of leadership, operational excellence, technical breadth and a passion for learning and development. Prasad holds a Master of Arts (MA) degree in Finance and Investment and an MA in European Studies from the University of Exeter, as well as a Bachelor of Arts (Hons) degree in Economics from the University of Nottingham.