Enforcement

Indonesia’s Planned Bank Regulation Reshuffle Will Take Time

08/07/2020

President Joko Widodo’s plan to return bank oversight functions to Bank Indonesia is unlikely to be an immediate fix for the ongoing Covid-19 related challenges.

AML / KYC

Sri Lanka Shortlists Three Firms to Build Shared KYC Facility

07/07/2020

The three shortlisted firms, including one from Sweden, will begin work on a proof-of-concept, which is expected to be completed in six to nine months.

Securities / Derivatives

Sri Lanka Bourse to Introduce Easier Listing Rules from 15 July

04/07/2020

Requirements on capital, profitability and net assets have been relaxed to pave the way for new listings from start-ups and tech firms.

AML / KYC

Sri Lanka’s ‘Special Deposit Account’, a Recipe for Disaster

22/06/2020

A CBSL scheme announced in April to drive inward remittances and investment may risk Sri Lanka falling back into the FATF’s grey list, says Duruthu Chandrasekera.

Capital / Liquidity

Sri Lanka Cuts Statutory Reserve Ratio, Expands Lending Facility

17/06/2020

The CBSL has cut the statutory reserve ratio by 200 basis points, releasing $617mn in liquidity in the banking system. The size of its re-finance facility has also been tripled.

Capital / Liquidity

Bangladesh Relaxes Rules Prohibiting Bank Dividends

14/06/2020

Banks are allowed to distribute cash dividends to general shareholders and stock dividends to sponsors and institutional investors.

Sri Lanka to Triple Refinance Facility Limit for Banks

08/06/2020

The tripling of the limit was proposed to the Cabinet following complaints from various parties that they had not received relief from their banks.

Fintech / Regtech

Sri Lanka SEC Approves Rules to Digitalise Stock Market

07/06/2020

Sri Lanka’s SEC has approved rules to enable electronic account opening, trading and settlement at the Colombo Stock Exchange.

Capital / Liquidity

Foreign Investors Flee Sri Lankan Bank Stocks Amid Dividend Ban

26/05/2020

Exacerbated by a seven-week stock market shut down, foreign investors sold large quantities of Sri Lankan bank stocks following a ban on bank dividends this month.