Finance Special Session

Regional and global outlook as well as efforts towards inclusive and resilient recovery by adopting the use of technology were discussed with the Asian Infrastructure Investment Bank; Asian Development Bank; International Monetary Fund; World Bank and ASEAN+3 Macroeconomic Research Office during the Special Session between ASEAN Finance Ministers and Central Bank Governors with Heads of International Financial Institutions.

The ASEAN Finance Ministers' Meeting and Central Bank Governors, 7th AFMGM; ASEAN Finance Ministers' Meeting and Central Bank Governors with Heads of International Financial Institutions, AFMGM-IFIs and ASEAN Finance Ministers' Meeting, The 25th AFMM was held through a Virtual Conference. Yang Berhormat Dato Seri Setia Dr. Awang Haji Mohd Amin Liew bin Abdullah, Minister at the Prime Minister's Office and Second Minister of Finance and Economy chaired the 25th AFMM Meeting, while the 7th AFMGM Meeting and AFMGM-IFIs were co-chaired by Dayang Hajah Rokiah binti Haji Badar, Managing Director of the Autoriti Monetari Brunei Darussalam, AMBD. During the AFMGM-7 Meeting and the AFMGMIFI Meeting, Brunei Darussalam was represented by Dato Seri Paduka Awang Haji Ahmaddin bin Haji Abd Rahman, Deputy Minister of Finance and Economy for Fiscal and Dayang Hajah Noorrafidah binti Sulaiman, Deputy Managing Director of AMBD.

In the meantime, the matters that have been summarised by Yang Berhormat Dato, among others, highlighted the importance of technology and digital economy as a part of the new normal and enablers for growth; quality investments that create more job opportunities and enhanced productivity; and "green" growth strategies. The Meeting noted and welcomed the progress of the various working groups under the purview of the AFMM such as Infrastructure Financing; Cooperation in Insurance Matters; ASEAN Disaster Risk Financing and Insurance; Cooperation in Customs; Anti-Money Laundering and Counter Terrorist Financing; ASEAN Forum on Taxation; and ASEAN Capital Market Forum. The Meeting also noted the progress in the implementation of the Master Plan on ASEAN Connectivity and cooperation on sustainable infrastructure.

The Meeting discussed the progress and development of various working groups under the Roadmap for Monetary and Financial Integration of ASEAN in which the overall progress has been encouraging. Brunei Darussalam's three priority economic deliverables that fall under the ASEAN Finance Ministers and Central Bank Governors track were endorsed, namely: The signing of the 9th ASEAN Framework on Services Protocol on Financial Services; Convene ASEAN Financial Literacy Conferences as a means of enhancing financial literacy and financial inclusion; Initiate the work on the establishment of the ASEAN taxonomy on sustainable finance.

Source: Radio Television Brunei