Malaysia's success in its financial, social and economic development has been recognised by the World Bank, and the organisation believes the success stories should be shared and emulated by other developing economies.

According to the World Bank East Asia and Pacific Regional Vice President Axel van Trotsenburg, it is critical that Malaysia to continue sharing lessons from its financial sector success as this could be part of the solution to lift millions of people out of extreme poverty.

He added that innovations seen in its financial sector that has brought about a greater rate of financial inclusion and access to finance.

This recognition is also in line with the World Banks ongoing efforts to support the sharing of lessons among emerging economies and developing nations especially in East Asia and Pacific region.

He attributed the country's strong financial sector to its set of good policies and guidelines in place.

Follow reporter Cerenna Manickam as she discusses with van Trotsenburg on Malaysia's role as a developing nation in this region.