ASEAN foresees a Pan-Asean crowd funding, digital solution for financing

"We are looking at many solutions. For instance, we are looking at the less developed countries (Cambodia, Laos & Myanmar) in ASEAN for which micro and SME financing is very important. So, (we are looking at) how we can use digital platforms today.

"A pan-ASEAN crowd-funding, peer to peer framework. How do we use those digital platforms to provide solutions for more inclusive participation and financing for the SMEs," he asked.

Many people acknowledged that ASEAN has a very high savings rates which can be mobilised towards crafted ASEAN solutions for domestic issues, Ranjit said after an interactive session entitled: "Realising ASEAN Capital Markets 2026 at the World Economic Forum on ASEAN 2016 here today.

On further deepening the ASEAN capital market and standardisation of regulations, he said there was a strong commitment towards to it, as well as, hasten the integration.

There are also plans to create more opportunities for trading and a list of top companies on every single exchange that allowed investors to see more clearly what ASEAN companies they can invest in.

"These are aspects of ASEAN integration that are being discussed and are being reinforced here which we will take up at the ASEAN Capital Market Forum (ACMF)," he said.

On harmonisation of standards, he said ASEAN consisted of 10 member countries with diverse capital market but not all were fully developed capital markets.

"For instance, Malaysia has one of the highest benchmark against global standards among ASEAN countries. Singapore and Thailand as well.