MARKET INFRASTRUCTURE

Market Infrastructure

Japan FSA to Inspect FIs for Cybersecurity Effectiveness

By Editors | 22/02/2022

The FSA will carry out inspections to verify the effectiveness of cyber security systems at FIs. Common issues and good practices identified will be shared with the industry.

Market Infrastructure

Nepal to Become First Country to Deploy India’s UPI

By Editors | 21/02/2022

Nepal’s UPI is expected to be deployed over the next few months, with all the functionalities and features presently available in India.

Fintech / Regtech

Taiwan to Complete Second Phase of CBDC Trials By September

By Editors | 21/02/2022

Under the current design, a two-tier system is being used that will allow users to exchange bank deposits with the TWD digital currency.

ESG / Sustainability

Singapore Govt, MAS to Extend Support for Businesses

By Editors | 21/02/2022

MAS is extending its SGD facility to support SME lending. Singapore will target net zero emissions by or around 2050, which was previously the target for halving emissions.

Market Infrastructure

Bank Indonesia Deepens Ties with BOK Under New MoU

By Editors | 20/02/2022

The collaboration will include areas such as cross-border payments, digital payments, and other areas related to settlement and market infrastructure.

Fintech / Regtech

Korea FSS Includes NFT, Metaverse Monitoring in Annual Work Plan

By Sanday Chongo Kabange | 20/02/2022

The FSS said it will strengthen its supervision of “new trading assets such as NFTs” and “prepare countermeasures” if necessary to protect consumers against damage.

Market Infrastructure

Sri Lanka Launches National Remittance Mobile App

By Duruthu E Chandrasekera | 20/02/2022

The new mobile app is expected to lower the cost of inward remittances by foreign workers and reduce the use of black market channels.

Fintech / Regtech

Singapore Continues Work to Bolster Digital Banking Security

By Darien Choong | 18/02/2022

New measures include expanding the use of biometric technology, strengthening fraud surveillance and detection algorithms, and enabling customers to trigger account freezes.

Enforcement

FSA Issues Business Improvement Order to Mizuho, Again

By Editors | 18/02/2022

The business improvement order requires Mizuho and its parent to report to the FSA about the cause of another system failure which halted ATM operations on 11 February.