Japan’s demand for unilateral QFB status holds up trade pact

10-November-2008

The comprehensive economic partnership agreement (CEPA) being negotiated between India and Japan has hit a roadblock with the latter
proposing that five of its banks be given qualified full banking (QFB) status by India. On its part, though, Japan is not keen on offering similar status to Indian banks on the ground that they don’t measure up to Japanese standards.

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