- Project Impact
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The impact of the proposed TA is freer flow of capital in Southeast Asia.
- Project Outcome
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The outcome of the Project will be greater harmonization and broader mutual recognition in Southeast Asian capitall markets, both conventional and Islamic.
- Project Outputs
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There are two main outputs expected. These include: (i) Capital Market Integration: assistance to Southeast Asian financial regulators and policy makers to (a) support the ASEAN Capital Markets Forum (ACMF) in identifying the key areas of regulations requiring strengthening and harmonization and an implementation framework for mutual recognition that would advance the achievement of inter-linked securities markets under the Asian Economic Community objectives including those related to the emerging exchange alliance framework; (b) provide assistance to Exchange CEOs on Exchange alliances; (c) identify portfolio and capital account restriction that need to be phased out to support exchange alliances and market linkage and propose a sequencing of reforms in these areas; and (d) assist Southeast Asian Securities regulators in meeting the IOSCO Multilateral Memorandum of Understanding (MMoU) on Information exchange. (2) Islamic Finance: support to the IFSB to (a) develop the legal and liquidity infastructure needed for the sound development and effective supervision of Islamic finance; (b) develop strategies for Islamic capital market development in coordination with the work on liquidity infrastructure, and Islamic asset securitization; (c) provide further education on the IFSB standards and guidelines in order to facilitate the implementation of standards; and (d) provide further guidance on specific elements of the existing standards to assist in developing regulatory requirements or support the supervisory review process.
- Consulting Services
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A consulting firm will be recruited to provide international and national consulting services consisting of 11 international consultants (total 42 person-months) and 4 national consultants (total 8 person-months): (i) Capital Market Integration - 5 international consultants (15 person-months) and 4 national consultants (8 person-months); and (ii) Islamic Finance - 6 international consultants (27 person-months). The consultants will be engaged by ADB through Single-Source Selection, according to the "Guidelines on the Use of Consultants" (2007, as amended from time to time).
- Project Processing Stage
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Approved by the Bank
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:
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5 August 2008
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- Recruitment of Consultants
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Recruitment of consultants expected to take place in July 2008.
- Project Officer
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Junghoon Park (632-6382)
- Governance, Finance, and Trade Division, SERD
- jpark@adb.org
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Opportunities 
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