I REFER to Mr Victor's Khoo letter last Friday, 'Minibonds: Bank adamant despite MAS advice'. Unfortunately, we are unable to reply publicly to Mr Khoo's letter as ABN Amro has an obligation to observe strict client confidentiality. However, we will be happy to address his concerns directly with him.

The bank has reviewed all the Minibond transactions in accordance with an assessment framework recommended by the independent party appointed to oversee our complaint- handling process. To ensure a quick and fair resolution, ABN Amro has agreed for the Financial Industry Disputes Resolution Centre (Fidrec) to hear cases of claims up to $75,000, an increase from the stipulated $50,000. We will continue to work with the Monetary Authority of Singapore and all parties concerned on behalf of and in the best interest of our customers.

Ajay Mathur
Head of Retail Banking, Singapore
ABN Amro

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