Asian Countries Ink Deal To Develop Funds Passport Programme
Vanessa Doctor, Asia Correspondent, 23 September 2013
The Finance Ministers of various Asian countries have signed an agreement to jointly develop a funds management system that facilitates cross-bordering fund offerings in the region.
"The ARFP will benefit investors and fund managers, and ultimately help in the much-needed deepening of regional capital markets," said [tag|Tharman Shanmugaratnam|]Tharman Shanmugaratnam[/tag], deputy prime minister, minister for finance and chairman of the Monetary Authority of Singapore.
The initiative was conceived under the APEC Finance Ministers Process.