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Emerging markets 23 Sep 2019

Carlos Torres Vila joins the International Advisory Panel of the Monetary Authority of Singapore

BBVA Chairman Carlos Torres Vila participated this weekend at the annual meeting of the International Advisory Panel (IAP) of the Monetary Authority of Singapore. He was was also invited to The Singapore Summit, an event that focuses on Asia’s role as a global driver of growth.

Carlos Torres Vila is the only Spaniard in the IAP. The panel, created in 1998, brings together some of the world’s leading financial leaders. Its goal is to provide the Monetary Authority of Singapore with a global vision of financial industry trends and analyze the initiatives in key international financial hubs.

During his visit to Singapore, BBVA’s Group Executive Chairman shared his insights into Asia’s role in the global economy and the region’s challenges and prospects for the next decade. “I’m quite impressed with the region’s strength to face the challenges of the global economy, as well as the level of awareness of the Monetary Authority of Singapore regarding some highly critical issues, such as climate change. We, as financial institutions, need to play a key role in helping our customers and society at large become more sustainable,” he said.

The Singapore Summit

This weekend, Carlos Torres Vila also participated in the Singapore Summit, a key event that gathers top business and academic personalities from Asia and the world to debate on global business, financial and geopolitical trends, as well as their impact on regional and global growth, prosperity and stability.

The role of women in leadership positions, and the need to develop a set of global rules for the digital economy were two of the topics discussed during the event. In this sense, Carlos Torres Vila noted that, due to the inherently global nature of digital markets, isolated national action is not enough to face the challenges posed by digitization, such as privacy and social exclusion. In his opinion, tackling these challenges requires a global and comprehensive coordination.

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