Countries including some in the Middle East and Africa are modelling after Singapore for capital markets development, according to ex-commissioner of US Securities Mr. Piwowar. He noted that Singapore’s legal and educational system worth learning by the emerging nations.
Particularly, the Republic has gained a few prominent ranking internationally, and recognised as an important financial hub after 50 years of hard work. With the initiatives by the Middle East and Africa to enhance their financial framework and welcoming foreign bank and organisations. According to Mr. Piwowar, Singapore is at optimal control in contrast to the United State where the system is overly supervised which could harm the competitiveness.
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