AML / KYC

Pakistan Legislature Progresses Five FATF-related Bills

18/08/2020

Pakistan has taken another step towards its removal from the FATF grey list with the passage of five new bills in the National Assembly.

AML / KYC

UN Security Council Rejects Extension of Iran Arms Embargo

18/08/2020

The UN Security Council has rejected a US resolution to extend an international arms embargo on Iran due to expire on 18 October.

Capital / Liquidity

BOJ Has Effectively Paid Banks to Lend to Businesses – Report

18/08/2020

In April, the BOJ started offering banks a 0.1% interest rate if they used a new lending facility to lend to SMEs. Banks have shown record lending in recent months.

AML / KYC

Singapore Crypto Association Publishes Industry Code of Practice

17/08/2020

The code is accompanied by a practice guide providing regulatory guidance to facilitate payment services licence applications in Singapore.

Capital / Liquidity

RBNZ Extends Mortgage Deferral Scheme Another Six Months

17/08/2020

The extension means banks can continue to offer temporary mortgage deferrals to their customers without the loans being treated as in default.

Securities / Derivatives

Hang Seng Index to Include Alibaba, Xiaomi from 7 September

16/08/2020

The changes reflect a May decision to allow weighted voting rights and secondary-listed companies from the Mainland to be included as HSI and HSCEI constituents.

AML / KYC

Indian Authorities Raid Chinese Entities Over Money Laundering Concerns

16/08/2020

Chinese shell companies and individuals and their Indian associates, including bankers and accountants, were allegedly involved in hawala and money laundering transactions.

Fintech / Regtech

BOT, UK Government Agree to Cooperate in Financial Services

16/08/2020

The MoU will see increased cooperation in areas such as accounting standards, governance and transparency, fintech development, and sustainable finance.

Capital / Liquidity

CBIRC Projects ¥3.4tr in Bad Loans for 2020, More in 2021

16/08/2020

CBIRC chairman Guo Shuqing says banks should prepare by replenishing capital, increasing provisioning, and improving risk management.