Pan-Asean crowdfunding, digital platform for financing needs mulled

KUALA LUMPUR: Asean is mulling the idea of a pan-Asean crowdfunding and digital platform for micro and, small and medium enterprises’ (SME) financing needs, with the aim of more inclusive growth, says Securities Commission chairman Ranjit Ajit Singh.
“We are looking at many solutions. For instance, we are looking at the less developed countries (Cambodia, Laos and Myanmar) in Asean for which micro and SME financing is very important. So, (we are looking at) how we can use digital platforms today.
“A pan-Asean crowdfunding, peer-to peer-framework. How do we use those digital platforms to provide solutions for more inclusive participation and financing for the SMEs,” he asked.
Many people acknowledged that Asean has a very high savings rates which can be mobilised towards crafted Asean solutions for domestic issues, Ranjit said after an interactive session entitled “Realising Asean Capital Markets 2026” at the World Economic Forum on Asean 2016 here yesterday. – Bernama