It said the country's sound and globally recognised Islamic finance market would act as buffer to the impending shocks created by the Western markets.
Iosco head of research department
"The concern now is that we are not privy to the speed and the level of the increase of the interest rates. We have seen the raising of the Treasury bill from two to three per cent, which is a 50 per cent growth. That is a significant increase and it has created flows within global market, including
Bijkerk said it will be prudent for economies to start taking a long- term approach in minimising the possible US external risk.
"Regulators and central banks should start looking into conducting stress-testing of the economy, analyse global perspectives and how markets have reacted in the past due to the pressure," he said.
He added that countries should also take a leaf out of
The Iosco board met here last week for the first time in
The Growth and Emerging Markets (GEM) committee is the largest within the secretariat, representing 75 per cent of its members.
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