20-22 May 2014 | Kuala Lumpur, Malaysia

The Financial Integration Forum


The momentum for greater financial integration to support the real development in economic integration is picking up pace. Countries in the Asia region are doing more business with each other and regional countries like China, India and Indonesia are becoming increasingly significant trade partners to other emerging markets, superseding the role that was once dominated by the US.

Greater integration of markets, payments infrastructure and banking systems is a natural facilitator to this development, but integration isn’t a given, and the elements that facilitate or hinder them are need to be considered carefully in order to ensure a win-win proposition for all participating economies.

Countries that have much to gain by regionalising their economies are moving along much faster. Countries that are still working out the mechanics by which they want to be more fully integrated in the regional economy have to work out alternative models which would work for them.

The Financial Integration Forum at The Asian Banker Summit is intended as a working session for leaders in the industry to “imagine the future”, without boundaries in their minds, and to offer their deliberations as a thought leadership document that can be used in future forums, such as APEC, and other Trans Pacific Partnership (TTP).

The forum takes into account current realities and future possibilities, especially those brought about by technology and innovation. It’s designed as an empty canvas where leaders in the industry can paint what the region would look like in a borderless setting.

The program will be facilitated by Prof. Alain Chevalier, professor of finance, ESCP Europe, a man known for contributing to a lot of the thought that goes into making Europe think about its own integrated future.

The program will feature a panel of CEOs and senior decision makers in commercial banks, financial market infrastructure, funds and related payments infrastructure players across Asia who will be required to answer the following questions over five sessions:

Dialogue 1: Imagining the Future – based on tomorrow’s rules
Dialogue 2: Payments Integration: How to achieve integration?
Dialogue 3: Financial Markets Integration: The illusion of inter-connectedness
Dialogue 4: Regulation and the desired policy response – tying it altogether 

We have also invited experts from other jurisdictions with the greater experience in creating an integrated banking system to help us think through a workable Asian model.

Who should attend

Attendance to this “imagining the future” session is by exclusive invitation only. Invitations are being sent to the following senior executives:

  • Regulators and government officials of Asian countries
  • CEOs of commercial banks and/or their senior representatives
  • CEOs, COOs of commodities/mercantile exchanges
  • Senior representatives of hedge funds, asset management companies and investors
  • Leading corporate CFOs
  • Heads of payments infrastructure
  • Representatives from other markets whose experience can facilitate the dialogue.

Agenda 22 May 2014

The sessions will be highly experiential with presentations, supporting research and engaging facilitators to keep the discussions highly interactive.

The Financial Integration Forum Agenda 22 May 2014, Thursday

08:30 – 09:00


09:00 – 10:30

Dialogues Chaired by: Alain Chevalier, Professor of Finance, ESCP Europe and Emmanuel Daniel, Chairman, The Asian Banker

Opening Comments by:

Alain Raes, chief executive Europe, Middle East, Africa & APAC, SWIFT
Gertrude Tumpell Gugerell, Former Executive Board Member, European Central Bank

Dialogue 1: Imagining the Future – based on tomorrow’s rules

Participants at this session will be asked to imagine how the agenda for greater integration is being embraced by the financial community of the region, through trends such as:

  • Trade flows; intra-ASEAN and international
  • Migration and availability of skilled labor
  • Corporations diversifying and building scale by investing across borders - using specific examples
  • The potential impact of technology toward a borderless region and world
  • Case studies of recent banks M&As in the region
  • The role of public-private partnerships (PPP)
  • The role of national banking associations

The participating panel will be asked to respond to what they see to be emerging trends from these developments and to offer their open suggestions on what this should mean for the financial services sector.

With comments from Deborah K. Elms, Head at Temasek Foundation Centre for Trade and Negotiations

10:30 – 11:00 Morning Break
11:00 – 12:30

Dialogue 2: Payments Integration: How to achieve integration?

Sovereignty, local currency and monetary and fiscal policies at the national level must remain intact while factors such as the asset spill over effect, liquidity and systemic risk are addressed at the regional level. Trends in global payments are such that real time payments and alternative channels are starting to emerge in the market. Does this affect the relevance of financial institutions in the payments sector? Are these alternative models sustainable and if so, structurally sufficient to comply with and satisfy domestic and international regulation and guidelines?  How can ASEAN ensure that a regional model is something that will be meaningful and cost efficient for its participants while facilitating economic activity without affecting the abilities of individual countries to manage their own monetary and fiscal policies? How has this happened in other parts of the world? What are the lessons learned?

The discussion will be built focusing on the recent developments of the following types of organisations:

  • Person to Person (P2P) payments in the APAC region
  • The remittance business led by Western Union, China UnionPay & MoneyGram
  • Regionalization of high value payment systems
  • The continued role of the cross border business of card associations
  • Relevance of low value payment systems and the prospects for APAC and the Asian Payments Network
  • Lessons learned from African payments integration

The forum will be asked to imagine the scenario that includes the role of bank-led infrastructure amidst all the innovations currently underway.

With comments from:

  • Aladdin Rillo, Senior Economist, Asian Development Bank Institute; former Director & Chief Economist ASEAN Integration Monitoring Office
  • Rob Green, SWIFT board member for Africa, Head Payment Market Infrastructure, First Rand Bank-South Africa, former chairman of the Financial Industry Standards Association

12:30 – 14:00


14:00 – 15:00

Dialogue 3: Financial Markets Integration: Where are the dividends of inter-connectedness

Asia has been, and poses to be, a hot-bed of activity in payments, securities and trade and the notion of integration of financial markets poses the possibility of a great advantage to increase margins by saving on costs of doing business. The notion of compounded growth and benefits as a result of greater cooperation is not self-evident. Competition necessitates that market participants guard trade secrets. Is there a greater benefit to collaborating on harmonizing and if so, what is that greater benefit comprised of? The discussion will revolve around the various integration initiatives in the Asia Pacific region:

  • The Asia Pacific Financial Forum
  • The ASEAN trading link
  • The ASEAN+3 Bond Markets
  • Developments in the ASEAN Single Window for trade
  • The role of the extra jurisdictions in Asia Pacific that have formal political relations with
    ASEAN (ASEAN+3 and ASEAN+6)

Even though each market has its own growth objectives, could financial integration increase liquidity or growth?

With comments from:

  • CHONG Kim Seng, CEO, Bursa Malaysia Derivatives Berhad
  • Ranjan Chakravarty, CRO, Singapore Mercantile Exchange and Clearing Corporation
  • Representative from China Securities Depository Corporation

15:00 – 16:00

Dialogue 4: Regulators and the desired policy response – tying it altogether

Given some of the scenarios that could evolve in creating greater regional interaction, what are
some of the advice that can emanate from this forum for further consideration at policy making
and regulatory levels and what should the desired outcome be? We will frame the conversation
around recent collaborations namely:

  • The effect of providing emergency swap facility arrangements
  • The impact of greater regulation on capital flows
  • The absence of sufficient financial safety nets
  • The roles of APEC, TPP and other bilateral and multilateral initiatives

The forum will end with a belief statement on both unique and general elements the panel believes are important for policy makers to focus on as they respond to an increasingly borderless world. It is hoped that the recommendations from these “clean slate” discussions will be able to find their way to other intergovernmental forums.

With comments from

  • Rahmat Waluyanto, Deputy Chairman, OJK, Indonesia
  • Peter Zhang, Deputy Director General, CBRC, Shanghai
16:00 – 16:30 Afternoon break
16:30 – 17:30

The Asian Banker Summit Closing Keynote Session

Thinking about the innovations that are redefining the industry
The on slot of peer-to-peer activity on social media and new technology based breakthroughs are threatening to redefine the industry as we knowing today. As controversy continues to play out around the emergence of anonymous payments, this discussion will explore whether these innovations are a flash in the pan or a genuine megatrend with the potential to drastically impact the face of modern banking. The session would feature discussions around the following key points:

  • Does virtual currency has a real place in today’s economy
  • How the bitcoin community is being influenced by the regulatory environment in different geographies?
  • Non FIs and banking – competition or cooperation
  • How do we think about the traditional banks’ response to these innovations?
  • What are some of the leading indicators which we need to track to understand how to incorporate these innovations into the traditional institutions.

With comments from

  • Bobby Lee, CEO, BTC China
  • Jimmy Gurule, Professor of Law, University of Notre Dame & former Undersecretary, U.S. Department of the Treasury
  • Anatoliy Knyazev, Executive Director & Co-founder, EXANTE
  • Matthew Symons, CEO & Co-founder, Society One, Australia

Session chaired by Emmanuel Daniel, president & CEO, The Asian Banker and Gordian Gaeta, international resource director, The Asian Banker

Please note that the attendees are in various stages of invitation and confirmationUpdated list of participants will be provided, as these are available. 

For more details, please contact: 
Muhammad Usama
Program Manager
Email: musama@theasianbanker.com  
Tel: +86 10 5869 3492

Register Now

For speaking and content related inquiries please contact:
Muhammad Usama
Program Manager
Email: musama@theasianbanker.com
Tel: +86 10 5869 3492 

For more details, please contact:
Janice Chua
e-mail: jchua@theasianbanker.com
tel: +65 6236 6532
hp : 016 2947908

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