Delegates mulled over issues such as digital transformation in financial-banking services in countries and traditional financial-banking organisations amid Industry 4.0, and the Creative Media and Digital Culture Programme (CMDC).

The Bank for International Settlements (BIS) gave recommendations on ensuring financial stability, protecting clients, and maintaining trust and cyber security during the design and use of the CMDC.

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Governor of the State Bank of Vietnam (SBV) Le Minh Hung 

Governors shared the view that digital transformation in the regional banking sector has become an inevitable trend, and many ASEAN member countries have devised digital transformation strategies in the finance-banking sector.

In addition to discussing priorities and initiatives within ASEAN financial-banking cooperation, they also approved initiatives on the sustainable banking agenda and agreed to attach a specific release on this to the joint statement adopted at the sixth ASEAN Finance Ministers’ and Central Bank Governors’ Meeting.

Governors concurred to begin the building of a code of conduct for sustainable banks in ASEAN as initiated by the SBV as Chair of ACGM 2020.

Source: VNA