The APEC / ABAC / FIDN organizations delivered its 2017 Progress Report to the APEC Finance Ministers on July 28th 2017. 

BIIA is a member of the Financial Infrastructure Development Network (FIDN). BIIA’s executive committee members Neil Munroe and Peter Sheerin has participated in various meetings.

The report contains the following topics:

  • Expanding MSMEs’ Access to Finance
  • Credit Information systems
  • Secured Transactions and insolvency regimes
  • Trade and supply chain finance
  • Platform for regular public-private dialogue on fintech
  • Creating Deep, Liquid and Integrated Capital Markets
  • Developing classic bond repurchase (repo) and OTC derivatives markets
  • Information in capital markets
  • Supporting the Asia Region Funds Passport (ARFP)
  • Developing the Asia-Pacific financial market infrastructure
  • Expanding the Region’s Long-Term Investor Base
    Retirement Income and Long-Term Investment
  • Enabling Islamic financial institutions to expand cross-border investment in infrastructure
  • Fostering Financially Resilient Communities
  • A roadmap for expanding the coverage of microinsurance in APEC
  • Disaster risk financing and insurance
  • Dialogue and Research on the Future of Financial Regulation
  • Conclusion

To help advance the implementation of the CAP in coming years, this report recommends the following to the APEC Finance Ministers:

  1. Encourage relevant officials and regulators to collaborate with APFF’s capacity building activities in:
    • promoting deep and liquid bond, repo and derivatives markets;
    • modernizing credit information, valuation, secured transactions and insolvency systems;
    • developing pilot programs for cross-border supply chain financing; and
    • expanding long-term investors’ roles in infrastructure development.
  2. Support APFF’s efforts to develop a regional platform for public-private dialogue on harnessing fintech to create inclusive, sound and efficient financial systems.
  3. Encourage senior finance officials to work with APFF in 2018 to finalize the roadmaps envisioned in the CAP for:
    • developing the region’s financial market infrastructure;
    • expanding the coverage of microinsurance; and
    • promoting greater private sector participation in disaster risk financing and insurance.
  4. Encourage more economies to host discussions on the Asia Region Funds Passport (ARFP) where APFF can convene experts from regulatory, industry, multilateral and academic institutions.
  5. Encourage relevant authorities to collaborate with APFF in finalizing in 2018 a work program for the Islamic Infrastructure Investment Platform (I3P) to help expand cross-border investment by Islamic financial institutions in infrastructure.

To download the full report click on this link

About:  The Asia-Pacific Financial Forum (APFF) is a platform for public-private collaboration to accelerate the development of robust and integrated financial markets in the APEC region.

The APFF responds to the need for active collaboration among policy makers, regulators and experts from industry and international and academic organizations to address key issues. These include expanding access to finance for micro-, small and medium enterprises and households in emerging markets; facilitating trade and supply chain finance; creating deep, liquid and integrated capital markets; expanding the region’s institutional investor base and its capacity to finance infrastructure and other long-term projects; strengthening financial resilience; and harnessing innovation to build inclusive and efficient financial markets.

The APEC Business Advisory Council (ABAC) proposed the APFF’s establishment to the APEC Finance Ministers, who launched the Forum at their 2013 annual meeting in Bali. APFF is one of the three policy initiatives under the APEC Finance Ministers’ Process whose management was entrusted by the Ministers to ABAC, together with the Asia-Pacific Forum on Financial Inclusion and the Asia-Pacific Infrastructure Partnership (APIP).

Over 300 experts and senior representatives from more than 150 institutions collaborate in the APFF’s undertakings. These institutions include financial services firms (global and regional commercial and investment banks, asset management companies, insurers, pension funds, Fintech firms), legal, accounting and related services firms, business and investor information service providers, international financial industry associations, finance, trade and justice ministries, regulatory authorities, multilateral development banks, international organizations and academic and research institutions.

The work of APFF covers key areas of financial markets that are critical to the development of the region’s economy and financial services:

  • Credit infrastructure (legal, regulatory and institutional ecosystems for credit information sharing, secured transactions and receivables/warehouse financing)
  • Trade and supply chain finance (regulations, technological and innovative solutions to working capital access)
  • Insurance and retirement income (retirement income market, infrastructure and capital market investment environment for insurers and pension funds, regulation and accounting standards, disaster risk financing and insurance, microinsurance)
  • Capital markets (repo and derivatives markets, information for capital market investors, regional funds passporting)
  • Financial market infrastructure (ecosystem for cross-border portfolio investment, cybersecurity, know-your-customer rules, electronic payments)

In addition, APFF provides a platform for continuous dialogue between industry and the public sector with the involvement of subject matter experts from academic and research institutions and international organizations in areas such as the international financial architecture and financial technology (Fintech).

Source:  Asia-Pacific Financial Forum