(MENAFN- Qatar News Agency) The modernisation of the Asian financial system has been accompanied by a significant strengthening of the regulatory and supervisory frameworks, says Bank Negara Malaysia Governor Dr Zeti Akhtar Aziz.
She said it had also been accompanied by improved financial safety nets, a more effective surveillance of financial stability risks and stronger legal underpinnings, according to Malaysia's (Bernama) News Agency
"These reforms supported the transition towards more market-oriented financial systems that are anchored in stronger institutions, risk management capacity and governance," she said in her opening address at the South East Asian Central Banks (SEACEN) Anniversary Conference on 'Greater Financial Integration and Financial Stability' and launch of the SEACEN Financial Stability Journal in the capital
According to Zeti, the financial markets are today, better able to intermediate volatile financial flows
"Our financial institutions are supported by stronger financial buffers to withstand adverse developments and shocks
"Significant strides also continue to be made in strengthening consumer protection frameworks, promoting financial inclusion, and enhancing market discipline," she said.
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