A broader roadmap for ASEAN financial integration has been proposed as part of the
ASEAN Economic Community (AEC) agreed upon in 2007 with the goal of creating a free
flow of goods, services and investments and a freer flow of capital among the members
by 2020. The roadmap for financial integration is based on three “pillars”:
• liberalisation and integration of financial services (FSL);
• capital account liberalisation (CAL);
• regional co-operation in regulatory policies, including crisis prevention and
management and regional payments arrangements.