Why this initiative?
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Aims of
the report:
- To provide an in-depth analysis and accurate
picture of the state of the financial sector and
its development in order to portray the region as
a major financial force.
- To regain the trust and the attention of the
international investment community to the ASEAN
countries, thus encouraging further investment influx
and promoting its potential opportunities.
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This new century finds the Association of
South East Asian Nations, or ASEAN, approaching a critical
juncture in the development of financial markets. Through
interviews with key figures in the region, we will produce
an in-depth analysis and high-profile report on difficult
challenges and growth prognosis, investment and development
of financial services. This will include banking, capital
markets, insurance, Islamic finance, and export financing.
At the heart of this report will be insights from industry
leaders in ASEAN and primarely its six selected member nations
— Brunei, Indonesia, Malaysia, the Philippines, Singapore
and Thailand.
Six year after the Asian financial crisis
of 1997-1998, doubts about ASEAN’s finance and banking
industry still linger, coupled with a lack of trust from the
international public opinion and more importantly investors.
The impact of non-performing loans, the need for the development
of effective capital markets and the implementation of best
practices and corporate governance are amongst the key challenges
the region faces.
Asia’s banks have yet to rebound to
pre-crisis levels. Retail banking alone is expected to add
approximately $180 billion in new revenues by the end of the
decade. However, multinational institutions have substantially
lowered the importance of Asia in their global strategies.
Greater competition, fewer business boundaries,
a rise in domestic mergers and acquisitions, and increased
access to foreign capital are paving the way for stronger
players to grow, forming the foundation for more resilient
and rational finance and banking markets across Asia.
ASEAN priorities for
the finance and banking sector:
- Banks are focusing more on building specialized market
positions. Key areas within the banking sector include:
- Retail Banking (Credit Cards)
- Islamic Banking
- Investment Banking / Project Finance
- E-Banking – underlining the importance of technology
within the sector’s development
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Capital markets development
- Financial systems integration
- Fiscal and monetary policies/integration
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Insurance and export financing
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