Choe Heung-sik denies allegations he helped a friend’s son get a job while he was president of Hana Financial Group; resigns anyway.
Choi Jong-koo also lobbies to allow Korean firms to expand their business remits in the Southeast Asian country.
Hi Chi Minh Stock Exchange to launch covered warrants in late March; issuers required to hold adequate underlying securities and submit daily reports to the exchange.
The central bank has cancelled troubled finance company CIFL’s licence and doubled the maximum deposit insurance payout for each depositor.
Banking association says new regime needs a way to flag special circumstances in credit histories to prevent discrimination against customers.
Wolfsberg Group Questionnaire has potential to reduce costs associated with KYC application and streamline the establishment and maintenance of correspondent banking relationships.
Central bank investigators found that State Bank of India had not complied with rules on detection and impounding of counterfeit notes.
Extension of MoU includes cooperation on cross-border transactions, product development, information technology and knowledge sharing.
Legislative reforms aimed at granting FSC powers to collect fines of over 50 percent of assets found in false-name bank accounts.
Loan loss provisions to be lowered to between 120 and 150 percent of bad loans total; provisions against total loan book also reduced.