25th meeting of ASEAN SLC on Financial Integration held virtually

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