BFM 89.9
The Business Station
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Dato' Saifuddin Abdullah, the Minister of Foreign Affairs, has codified the foreign policy framework in the hopes that this helps with dealing with superpowers like China. In essence, this is a principled policy with an economic twist.
He was coy about whether the US can have a counterbalancing influence in the region but believes that an area like the South China Sea should be open and free for trade.
He is glad that Singapore and Putrajaya are talking again about the Water Agreement but didn't reveal a preferred price for water sales to Singapore.
Dato' Saifuddin Abdullah is optimistic about the future of race relations with the upcoming National Harmony Act and the IPCMC. He believes that foreign policy is a function of what we want at home.
Presenter: Julian Ng
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Events · May 13 · 4:01AM
ASEAN Gateway To Cross Border Payments
Events · May 13
ASEAN Gateway To Cross Border Payments
ASEAN’s digital payments sector is experiencing rapid growth, fueled by increasing smartphone use, fintech innovation, and a booming e-commerce landscape. Key markets like Indonesia, Vietnam, and the Philippines are leading the way, with major opportunities in digitizing MSMEs and expanding rural financial access. Consumers are shifting toward mobile-first behavior, embracing e-wallets, mobile banking, and digital banks that offer greater convenience and accessibility. ASEAN central banks are strengthening cooperation to enhance payment linkages through QR code integration and shared standards. A major initiative, Project Nexus, aims to make cross-border payments faster, cheaper, and more seamless, though challenges remain in aligning regulations and infrastructure. As digital transactions surge, cybersecurity becomes critical, with the need to protect users without disrupting the payment experience. Importantly, digital finance is helping bank the unbanked, especially in rural areas, where mobile money and fintech tools are providing people with their first access to formal financial services.How can ASEAN ensure inclusive growth as digital payments continue to expand?
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