Market Infrastructure

RBI Issues Draft Framework on Recognition of Payments SROs

18/08/2020

Recognised self-regulatory organisations would be responsible for establishing minimum benchmarks and standards for the proper functioning of their member entities.

Market Infrastructure

RBI Allows Formation of New Umbrella Entities for Retail Payments

18/08/2020

The framework allows private firms to apply to set up a new umbrella entity to operate retail payment systems. Currently, only the NPCI operates such an entity.

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.