Head of Tokyo bourse warns of Beijing's dominance over AIIB

Tokyo

TOKYO Stock Exchange head Atsushi Saito on Friday added his voice to those questioning governance standards at the China-led Asian Infrastructure Investment Bank (AIIB), with a warning that the "Chinese side" could exert control over investment decisions of the proposed development bank.

Mr Saito, who is due to retire from his post as group chief executive officer of the Japan Exchange Group next week, said that, with China expected to own nearly 30 per cent of the AIIB's shares, and with countries to which the bank lends money possibly "siding" with China, Beijing could have effective majority control of the running of the bank.