Closer Look: How AIIB, BRICS Bank Are Facing Up to Early Challenges

(Beijing) – With a China-led multilateral bank three months from its official launch and a new bank opened by five emerging economies also set to open, experts say the institutions must live up to international standards by learning lessons both good and bad from established multilateral institutions.

Jin Liqun, president-elect of the Asian Infrastructure Investment Bank (AIIB), said at a news conference at the end of August that an interim secretariat under his leadership has been focusing its efforts on hammering out lending and oversight policies to pave the way for the bank's opening before the end of the year.