VIVAnews - Malaysia Securities Commission is optimistic that ASEAN Economic Community can be implemented in 2015. The integration process of ASEAN capital market will go through four phases.
Chairman of Malaysia Securities Commission, Dato' Zarinah Anwar, said Malaysia has applied the first phase of the integration: single market. Through single market, the country is convinced that it may accommodate other countries.
"We have liberated Malaysian capital market in several areas such as capital market which is based on Islamic teaching and fund management," he told VIVAnews on Thursday, March 24.
Anwar went on to say that to materialize ASEAN integration in 2015, focused blue-print and time-line are required.
He cited Malaysia has applied capital market blue-print since 2001. For the time being, the Malaysia Securities Commission is formulating the second capital market work plan.
The blue-print is a reference for regulator to polish capital market industry. "He have applied [the blue-print] for almost 10 years and the Malaysian stock exchange can develop well," said Anwar.
He added that for the time being, retail investor of Malaysian stock exchange only contributed by between 20 and 25 percent to capital market industry.
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Translated by: Bonardo Maulana Wahono
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