The 26^th ASEAN Senior Level Committee- SLC on Financial Integration meeting was held yesterday morning using a hy­brid format and Dr Lin Aung, Deputy Governor of the Central Bank of Myanmar attended the meeting.

In the meeting, the Glasgow Financial Alliance for Net Zero (GFANZ) and the Asia Pacific Network Office shared informa­tion on the state of global and regional financial developments while the ASEAN+3 Macroeco­nomic Research Office (AMRO) presented the most recent mac­roeconomic developments in the region.

In the afternoon, the rep­resentative from the ASEAN secretariat conferred on prior­itized subjects and their growth for the financial integration, and the development of implemen­tation works under processes of the ASEAN Economic Com­munity-AEC. The co-chairs of the meeting discussed the Risk Monitoring Report drafted based on the Risk Monitoring Template (RMT) submitted by ASEAN Finance Working Groups.

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.

The Senior-Level Commit­tee Working Group co-chairs then discussed recent develop­ments in sustainable finance and the next steps to be taken while the Central Bank of Indonesia discussed the ASEAN Cyberse­curity Resilience and Informa­tion Sharing Platform-CRISP and the Central Bank of the Philippines about the ASEAN Swap Arrangement.

The co-chairs of the Capi­tal Account Liberalization-CAL presented the updates of the ASEAN Local Currency Trans­actions-LCT Task Force and ASEAN LCT Framework. They also reviewed the tasks of ASE­AN working committees from Indonesia before the Monetary Authority of Singapore, a co-chair of the committee made conclusion remarks. — MNA/TH