Meeting for financial integration: Dy Gov. of CBM attended 29th ASLCMFI held in Malaysia

On March 13, 2025, the 29th ASEAN Senior Level Committee Meeting for Financial Integration was held in Malaysia. Dr. Lin Aung, Deputy Governor of the Central Bank of Myanmar, along with senior officials, participated virtually.

The meeting began with opening remarks from the co-chairs, the central banks of Vietnam and Indonesia. The Central Bank of Malaysia, as the ASEAN chair, presented an overview of financial cooperation priorities for 2024. Representatives from the International Monetary Fund and the ASEAN+3 Macroeconomic Research Office discussed global and regional macroeconomic and financial developments.

The ASEAN Secretariat provided updates on progress in financial integration efforts, including activities under the ASEAN Economic Community, the AEC Strategic Action Plan (2026-2030), and sector-specific financial plans (2026-2030). Deputy governors offered suggestions and engaged in discussions.

Further, the Central Bank of Malaysia outlined a framework to enhance future collaboration among central banks and establish cooperation pathways with finance ministries. They also presented the committee’s terms of reference, which were endorsed by the deputy governors.

Working committees reported on advancements in areas such as the ASEAN Banking Integration Framework, capital account liberalization, capital market development, inclusive financial systems, payment and settlement systems, and capacity-building oversight. In the afternoon session, co-chairs presented a report on risk monitoring, while updates on sustainable finance, cybersecurity, and ASEAN currency swap arrangements were also shared.

The ASEAN Bankers Association briefed on a framework for data connectivity among ASEAN nations. The meeting concluded with closing remarks from the co-chairs (Vietnam and Indonesia) at 3:35 PM.