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Economic News

Last updated: Tuesday, September 26, 2017

 

Third WC-ABIF Meeting

Posted: Friday, September 08, 2017

The State Bank of Vietnam (SBV) recently hosted the Third Meeting of the Working Committee on the ASEAN Regional Integration Framework (WC-ABIF) in Hanoi. The meeting was attended by representatives of central banks of ASEAN countries, including Thailand, the Philippines, Malaysia, Indonesia, Singapore, Brunei, Cambodia, Laos and Vietnam. WC-ABIF aimed to promote banking integration among ASEAN countries.

At the function, the ASEAN Secretariat (ASEC) reported the results of the ASEAN Finance Ministers' and Central Bank Governors' Meeting (AFMGM) 2017 to WC-ABIF. WC-ABIF underscored discussions on contents of banking integration: Reviewing and updating the Strategic Action Plan (SAP), Risk Management Tool (RMT) and Key Performance Indicator (KPI) on financial integration and financial stability. It also discussed and endorsed working plans of four Task Force Groups on Prudential Safety, Inspection, Data and Monitoring, and Capacity Building.

In addition, the meeting updated outstanding developments and performances of the ASEAN banking sector. It also agreed on contents reported to the ASEAN Senior Level Committee for Financial Integration (SLC) and the ASEAN Steering Committee on Capacity Building of Financial Integration (SCCB). Other contents were also discussed, such as private sector participation in ASEAN banking integration and future meeting plans.

The whole meeting contents will be jointly carried out by central banks of ASEAN nations and reported to SLC, led by ASEAN Central Bank Deputy Governors, expected to take place in October 2018 in Luang Prabang, Laos.

Q.C








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