Article: Malaysia : Asia Needs To Have Own Financial System, Says Don.

Byline: babalu03

Asia needs to have its own financial system to maintain stability and succeed in this sector, said former Bank Negara Malaysia assistant governor, Datuk Seri Andrew Sheng here on Friday.

He also said this was due to the rising volatility in the global financial market with very large capital flows.

"The world has changed and the financial market has become more volatile, and there are very large capital flows," he told reporters on the sidelines of the 10th Emerging Markets Programme by the Securities Commission here.

"Asia must have its own policy measures to deal with this, in order to maintain stability," he added.

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