M'sian SC Chairman Elected As Member Of Board Of IOSCO‬

KUALA LUMPUR, May 18 (Bernama) -- Securities Commission Malaysia (SC) Chairman Ranjit Ajit Singh has been elected a member of the Board of the International Organisation of Securities Commissions (IOSCO). He will be part of the governing body of IOSCO that is responsible for leading the direction and process of standard-setting and decision-making on policy issues affecting global capital markets. In addition, he was also appointed the Vice-Chairman of the Emerging Markets Committee (EMC), comprising 86 jurisdictions, at the IOSCO's 37th Annual Meetings and Conference in Beijing, China, the SC said in a statement here Friday. In remarks at the opening session of the Annual Conference, Ranjit said that global securities regulators must address key issues affecting capital markets, with a view to ensuring that they achieve the appropriate balance for the growth of their capital markets in an environment of stability and market integrity He said Malaysia's part in shaping the international financial architecture was a critical one, and imperative to the positioning of its capital market as a leading capital market centre, including in the area of Islamic finance.‬ At the meeting, it was agreed that the SC would host a Roundtable on Islamic capital markets, between the IOSCO and the Islamic Financial Services Board (IFSB) in Kuala Lumpur this September. The IOSCO is the world's most important forum for securities regulators and its members regulate more than 90 percent of the world's securities markets. As the leading international policy forum and standard-setter for securities regulation, IOSCO plays a key role in setting international standards for securities regulation, identifying issues affecting global markets and implementing policies to meet those challenges.‬ The Annual Conference and Meetings was also attended by several Central Bank Governors as well as market regulators from Asian countries. -- BERNAMA