VALUED PARTNER

ON THE INTERNATIONAL FRONT

REGIONAL FORUMS
ASEAN COOPERATION

MAS is committed to fostering greater regional financial cooperation. MAS and the Bank of Thailand co-chair the ASEAN Senior Level Committee, which oversees the key work streams for ASEAN financial integration and central banking issues. MAS also chairs the ASEAN Working Committee on Capital Market Development that promotes the development and integration of ASEAN capital markets, with a focus on the development of government and corporate bond markets.

Banking
In December 2014, ASEAN central banks agreed on the ASEAN Banking Integration Framework (ABIF). The ABIF aims to achieve a more integrated banking market in ASEAN and provides Qualified ASEAN Banks (QABs) with a platform for greater market access and operational flexibility. The ABIF will support QABs in playing a more significant role in facilitating intra-ASEAN trade and investment, supporting the realisation of the ASEAN Economic Community.

Capital Markets
MAS is an active member of the ASEAN Capital Markets Forum, which supports ASEAN financial integration by pursuing harmonisation of various aspects of securities laws in ASEAN, particularly in the more developed equity markets. MAS is also the co-chair of the ACMI Task Force, which aims to operationalise the blueprint to establish clearing, settlement and depository linkages within ASEAN.

In March 2015, MAS signed an MOU with the SGX and securities regulators of Malaysia and Thailand to establish a Streamlined Review Framework for the ASEAN Common Prospectus. Under this framework, issuers planning to offer or list equity or plain debt securities will benefit from a shorter time-to-market and faster access to capital across participating countries.

In August 2014, MAS, the Securities Commission of Malaysia and Securities and Exchange Commission of Thailand launched the ASEAN CIS Framework to facilitate the cross-border offerings of CIS to retail investors.

Insurance
MAS is an active member of the annual ASEAN Insurance Regulators Meeting (AIRM). AIRM aims to promote closer cooperation and sharing of experience on insurance matters among the ASEAN regulators. The meetings are held annually and hosted on a rotational basis among the ASEAN countries. The 17th AIRM held in Brunei Darussalam discussed capacity building initiatives to improve the supervisory framework of the ASEAN regulators, disaster risk financing and insurance initiatives, as well as priority areas of insurance liberalisation under the ASEAN Framework Agreement on Services.