42132-012: Strengthening Southeast Asian Financial Markets | Asian Development Bank

Regional: Strengthening Southeast Asian Financial Markets

Sovereign (Public) Project | 42132-012 Status: Closed
Project Name Strengthening Southeast Asian Financial Markets
Project Number 42132-012
Country Regional
Project Status Closed
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 6473-REG: Strengthening Southeast Asian Financial Markets
Regional Cooperation and Integration Fund US$ 650,000.00
Strategic Agendas Inclusive economic growth
Regional integration
Drivers of Change Partnerships
Sector / Subsector

Finance / Money and capital markets

Gender Equity and Mainstreaming No gender elements
Project Rationale and Linkage to Country/Regional Strategy
Impact The impact of the proposed TA is freer flow of capital in Southeast Asia.
Project Outcome
Description of Outcome The outcome of the Project will be greater harmonization and broader mutual recognition in Southeast Asian capitall markets, both conventional and Islamic.
Progress Toward Outcome
Implementation Progress
Description of Project Outputs 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.
Status of Implementation Progress (Outputs, Activities, and Issues)
Geographical Location Regional
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design
During Project Implementation
Business Opportunities
Consulting Services 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).
Responsible ADB Officer Mohd Ismail, Mohd Sani
Responsible ADB Department Southeast Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, SERD
Executing Agencies
Asian Development Bank
Mohd Sani Mohd Ismail
[email protected]
Southeast Asia Department, SEGF
Concept Clearance 21 Feb 2008
Fact Finding 08 May 2008 to 08 May 2008
Approval 05 Aug 2008
Last Review Mission -
PDS Creation Date 08 Sep 2008
Last PDS Update 29 Oct 2010

TA 6473-REG

Approval Signing Date Effectivity Date Closing
Original Revised Actual
05 Aug 2008 - 05 Aug 2008 31 Jan 2010 30 Sep 2010 -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
650,000.00 0.00 0.00 0.00 0.00 0.00 650,000.00 05 Aug 2008 615,700.82

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