Taiwan Banking Governor Fired

The governor of Taiwan’s central bank was fired Friday after being accused of negligence that led to a $370 million lending scandal that jolted the island’s financial markets last summer.

A watchdog committee voted 8-2 to fire Sheu Yuan-dong, governor of the Central Bank of China, saying he “failed to expedite much-needed financial reforms,” said committee member Chai Tsung-chuan. Chai would not elaborate.

Sheu, a former chairman of the state-run Bank of Taiwan, was held responsible for a scandal involving that bank and the International Bills Finance Corp., which helps companies obtain financing.