GEM Addresses Issues Regarding Market-Based Financing

(photo) Ranil Wickremasinghe, Prime Minister of Sri Lanka (2nd from left) meets Tan Sri Ranjit Ajit Singh, Chairman of Securities Commission Malaysia, and Chairman of the International Organization of Securities Commissions (IOSCO) Growth and Emerging Markets Committee (4th from left) at the Annual Meeting and Conference of the IOSCO Growth and Emerging Markets Committee in Colombo, Sri Lanka. Also present were: Thilak Karunaratne, Chairman of the Securities and Exchange Commission of Sri Lanka (far left); Vajira Wijegunawardane, Director General of the Securities and Exchange Commission of Sri Lanka (middle); and Paul Andrews, IOSCO Secretary General (far right)

 

During the annual meeting and conference of the IOSCO Growth and Emerging Markets (GEM) Committee, over 300 participants from 50 jurisdictions of leading market regulators gathered to address challenges in scaling up sustainable market-based financing. This includes discussing the role of policy makers, regulators and industry participants in promoting green financing solutions within emerging markets.

“There were agreements among emerging market regulators to accelerate the development of sustainable finance, including the establishment of a Task Force on Sustainable Finance,” states Chairman of the Securities Commission Malaysia (SC), Tan Sri Ranjit Ajit Singh, who chaired the GEM.

The efforts are also aligned with SC’s efforts in advancing Malaysia’s position as a leading Islamic finance centre and its value proposition as a centre for sustainable finance.

Given the increasing number and level of sophistication of cyber incidents occurring recently, the GEM Committee also conducted a cyber simulation exercise developed in collaboration with market experts to strengthen regulatory capabilities and readiness in addressing cyber threats.

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