24th meeting of ASEAN SLC for financial integration held virtually

The 24th ASEAN Senior-Level Committee-SLC for Financial Integration meeting was held in a hybrid format at 7 am on 18 October, and Deputy Governor Dr Linn Aung of the Central Bank of Myanmar participated in the meeting.
Firstly, deputy governors from the Monetary Authority of Singapore and 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 growth regarding the ASEAN Interoperable Data Framework and the ASEAN Multilateral Payments Connectivity Initiative Plan.
In the afternoon, 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.
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.
Later, co-chairs of the Senior-Level Committee Working Group interpreted the information regarding sustainable finance and the ASEAN Cybersecurity Resilience and Information Sharing Platform- CRISP.
Afterwards, responsible persons from the Central Bank of the Philippines and the Monetary Authority of Singapore presented the update on the ASEAN Swap Arrangement-ASA and the Terms of Reference –TOR, respectively. It is reported that co-chairs of the meeting made conclusion remarks after deputy governors guided necessary instructions on presentations. — MNA