Better Financial, Bond Markets in ASEAN, Says Zeti

Former Bank Negara Malaysia Governor Tan Sri Dr Zeti Akhtar Aziz.

Petaling Jaya, MINA – ASEAN has illustrated that it has developed better financial and bond markets, enhanced regulation and supervisory oversight and strengthened financial surveillance capabilities, says Tan Sri Dr Zeti Akhtar Aziz.

“This has reinforced financial reforms that resulted in greater market orientation and more competitive financial systems.”

“These trends have been supported by buffers created during regional cooperation and collaboration,” Bernama quoted the former Bank Negara Malaysia governor as saying at the opening of the three-day Federation of ASEAN Economic Associations (FAEA) Conference here Tuesday.

The FAEA consists of national economic societies from Indonesia, Malaysia, the Philippines, Singapore, Thailand, Vietnam and Cambodia.

It was initiated in 1975 with the objective of promoting the study of economic science in ASEAN based on mutual cooperation via the annual regional conference, hosted by each member economic association on a rotational basis.

Meanwhile, Malaysian Economic Association President Tan Sri Sulaiman Mahbob said he hoped the federation would soon include representatives from all ASEAN countries since it aimed to provide useful inputs on economic development and policy-making for member countries in the grouping.

“The wide variety of topics of current interest, to be discussed in this conference, will undoubtedly promote stimulating views and encourage healthy discourse to further strengthen and foster ASEAN integration,” he added. (T/RS5/RS1)

Mi’raj Islamic News Agency (MINA)