It is indeed a pleasure to be here in Kuala Lumpur again, and I am grateful to Governor Zeti for inviting me as a lead discussant on one of the key challenges of regulatory reform agenda – “Managing Systemically Important Financial Institutions”.
In these few minutes, I will cover the need for specific regulations for SIFIs, progress made so far in designing the policy framework, perspectives of emerging markets in general and Pakistan in particular, regulatory challenges faced by supervisory authorities, and what remains to be done.