Now that AFI is opening its membership to associate members, I take this opportunity to urge fellow financial sector regulators to consider joining this worthwhile forum, in order to facilitate joint contributions towards greater inclusion in our local sector.
The authorities have also adopted legislation that liberalises NPL servicing for all loan categories, and provided a framework for the sales of loans. In addition, banks have set up comprehensive strategies, including detailed operational measures and actions, prioritised and scheduled, as well as numerical targets to significantly reduce their NPE stocks over the coming years.