Besides, further financial liberalization and arrangements for cross border oversight and supervisory functions will be equally important. Harmonization of the regulations regarding AML/CFT, KYC, taxation, use of IT system, and statistical reporting are some other prerequisites for the development of an integrated regional capital market.
We, the South East Asian Central Bank (SEACEN) Governors, can collectively take up such initiatives through the platform of SEACEN. Let us work together towards the evolution of the regional financial market that caters the financing need of Asia’s vibrant economic growth. Thank You. 4  BIS central bankers’ speeches