Mar 8,2023 |01:29 |

The 25th ASEAN Senior-Level Committee-SLC on Financial Integration meeting was held in a hybrid format yesterday, and Deputy Governor Dr Linn Aung of the Central Bank of Myanmar participated in the meeting.

 

First, the deputy managing director from the Monetary Au­thority of Singapore and depu­ty governor of the Bank of the Lao PDR co-chaired the meet­ing and gave opening speeches.

 

Then, they presented the current macroeconomic conditions of the ASEAN+3 Macroeconomic Re­search Office – AMRO and the Asian Development Bank-ADB, and the development of the global and regional financial state.

 

Then, relevant working com­mittees clarified the progress regarding the ASEAN Interop­erable Data Framework and the ASEAN Multilateral Payments Connectivity Initiative Plan while the representative from the ASE­AN secretariat conferred on pri­oritized subjects and their growth for the financial integration, and processes of the ASEAN Eco­nomic Community-AEC.

 

At noon, the final progress of the ASEAN Banking Integration Framework- ABIF, the Capital Account Liberalization-CAL), the Capital Market Develop­ment-CMD, the Financial Inclu­sion-FINC, the Financial Services Liberalization-FSL, the Payment and Settlement System-PSS and the Steering Committee on Ca­pacity Building – SCCB, was ex­plained by respective working committees, and deputy gover­nors gave their guidance.

 

Next, the co-chairs of the Senior-Level Committee Work­ing Group explained Sustainable Finance while the Central Bank of Indonesia about the ASEAN Cybersecurity Resilience and Information Sharing Platform- CRISP and the Central Bank of the Philippines about the brief of the second meeting of ASE­AN Swap Arrangement Working Committee held in Indonesia on 5 February 2023.

 

Officials from the Monetary Authority of Singapore clarified the Terms of Reference -TOR and the Central Bank of Indo­nesia discussed the holding of the second meeting of ASEAN Finance Ministers and Central Bank Governors and the integra­tion of ASEAN working groups. Finally, the co-chairs of the meet­ing made conclusion remarks. — MNA/KTZH