Ranjit said: “There was agreement among emerging market regulators to accelerate the development of sustainable finance, including the establishment of a Task Force on Sustainable Finance”.
These efforts are also aligned with SC’s efforts in advancing Malaysia’s position as a leading Islamic finance centre and its value proposition as a centre for sustainable finance, as seen by the recent issuance of the world’s first green sukuk under the SC’s Sustainable and Responsible Investment (SRI) Sukuk framework.
Given the increasing number and sophistication of cyber incidents occurring recently, the GEM Committee also conducted a cyber simulation exercise developed in collaboration with market experts to strengthen regulatory capabilities and preparedness in addressing cyber threats.
Ranjit said: “Greater regulatory cooperation is critical in strengthening resilience and regulatory expertise in relation to cyber threats”.
Other substantive areas discussed included key issues and challenges regarding liquidity in emerging capital markets. The regulators also discussed how fintech is shaping capital markets and the balance between innovation and investor protection, particularly in areas such as cryptocurrencies and initial coin offerings (ICOs).
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