East Asia and Pacific

This report – developed jointly by the OECD, ASEAN and national stakeholders – seeks to better understand the causes behind these persistent gaps and advances policy solutions to help close them. It is structured around three chapters: Chapter 1 provides an overview of progress made in achieving gender equality in employment and education, analyses women’s overall participation in economic activity, and highlights the remaining challenges to reduce outstanding gaps in a wide range of labour market outcomes.

SME customers of Standard Chartered Bank, a SME Finance Forum member, will explore Malaysia, Singapore and Thailand on a 10-tour. The tour sponsored by StanChart in partnership with Kenya Association of Manufacturers (KAM), Kenya Investment Authority (KenInvest) and Strathmore Business School will target SMEs with a minimum annual turnover of Sh10 million and have been in business for at least three years. SMEs are expected to gain entrepreneurship and financial education skills that will open the doors of opportunity for their businesses. 

Advancing women’s equality in the countries of Asia Pacific could add $4.5 trillion to their collective annual GDP by 2025, a 12 percent increase over the business-as-usual trajectory. Already a powerful engine of global growth, pursuing the goal of gender parity can lift many more women out of poverty, unleash the economic potential of many others, and reinforce the region’s dynamic growth story.

The Asian Development Bank (ADB) and Deutsche Bank AG today announced an agreement to enter into a supply chain finance (SCF) transaction under ADB’s Supply Chain Finance Program (SCFP). The SCF will provide over $200 million in annual financing to small and medium-sized enterprises (SMEs) across developing Asia.

SME Finance Forum member, ADFIAP (Association of Development Financing Institutions in Asia and Pacific) hosted an Awards Night in Macau recently where DFCC Bank won an award under the SME Development category for setting up a specialized unit for development of MSMEs. In addition, DFCC Bank was recognized for being a Charter Member of the ADFIAP since October 1, 1976.

Differing regulatory standards among various jurisdictions are hindering the development of financial technology (fintech) in Asia, according to a Hong Kong-based financial lobby group.

While the rapid evolution and development of fintech provide enormous potential for increased productivity and efficiencies in the way financial services are delivered, it also creates challenges for regulators around the region, the Asia Securities Industry and Financial Markets Association (ASIFMA) says.

The rapid evolution and development of Fintech is dramatically changing the face of the financial services industry, and offers the potential for increased productivity and efficiencies in the way financial services are delivered. It has also challenged policymakers worldwide as they develop regulatory responses that strike a balance between promoting innovation, maintaining the resiliency of the financial system and ensuring consumers are protected. Further, the explosive emergence of 'big data' and artificial intelligence has amplified concerns around data privacy and cybersecurity.

Small and medium-enterprises, or SMEs, represent more than 90% of all businesses across Asia. The contribution of SMEs to trade, jobs, and economic growth is constrained by many factors – one of which is inadequate access to finance.

A 2016 ADB survey showed that SMEs experience the highest rate of rejection – more than half of trade finance proposals sent to banks. Weak finances and a lack of collateral often prohibit SMEs from getting loans or financial support from banks.

Recognizing the integral role small and medium enterprises (SMEs) play in developing Asia Pacific’s economies, Mastercard together with Maestrano today announced a strategic partnership to encourage SME development by enabling issuing banks across the region to leverage cloud-based technologies. The partnership aims to help SMEs reduce operational inefficiencies and encourage greater visibility and control of finances.

Small and medium-sized enterprises (SMEs) form over 90 per cent of businesses in the ASEAN region and contribute to over 20 per cent of the economies’ GDP. Despite their steady business momentums, SMEs in the region still face a common growth obstacle – gaining access to financing – according to a study of five ASEAN economies by Deloitte.