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Jakarta Post

Capital unity `will take ages'

  • by Kharishar Khafi Hotli Simanjuntak
Jakarta   /   Wed, March 25 2009   /  01:09 pm

Indonesia has cast doubt on the viability of an integrated capital market among ASEAN member states by 2015, citing regulatory differences. Lack of a common regulatory framework shared between states was among the daunting factors dampening the realization of the plan, chairman of the capital market and financial institution supervisory agency (Bapepam-LK) Fuad Rahmany said during a seminar Tuesday. JP/Irma He added there was so much to be done before being able to realize the dream of having a single integrated capital market in the ASEAN region by the 2015 deadline. "I don't know whether this can be achieved by 2015; we're still at the discussion stage," he said. He also said that among the obstacles was a way to synchronize the regulations that were issued by each member country. This included policies relating to taxation, investor...