China-led AIIB to have compliance unit to oversee management

Beijing

THE US$100 billion Asian Infrastructure Investment Bank will have a special compliance and integrity unit that will exercise oversight over the management and report directly to the board, according to Jin Liqun, the lender's president.

"There'll be division of power and responsibility between the board and management," Mr Jin said at a press conference on Sunday. "It's important to implement."

China will need to meet its pledge for a high standard of governance at the …