Discussions have begun among experts on whether to completely privatize the Shoko Chukin Bank, a government-affiliated financial institution that was exposed to large-scale fraud six years ago.
The Ministry of Economy, Trade and Industry, which has jurisdiction over the matter, is aiming for an early conclusion.
In 2016, it was discovered that the Shoko Chukin Bank had made more than 5,500 fraudulent loans related to the "crisis response loans" that the government supports small and medium-sized enterprises. We have put together a proposal that we should judge whether full privatization is possible.
In response to this, the Ministry of Economy, Trade and Industry established a new panel of experts, and the first meeting was held on the 16th.
At this meeting, Minister of Economy, Trade and Industry Nishimura said, "I would like to ask you to discuss how the Shoko Chukin Bank should be for small and medium-sized enterprises, based on the history so far."
At the meeting, interviews were conducted with executives and managers of SME associations, and
while opinions were voiced that ▽ we should further promote partnerships with private financial institutions,
▽ ▽ privatization would not support SMEs Concerns were also raised that the role of
The Ministry of Economy, Trade and Industry plans to interview local financial institutions in the future, and plans to compile a conclusion as soon as possible based on discussions at the expert panel.