The BOT sets out six steps for ensuring equitable lending practices, from the development of lending products to the sale of debts to other creditors.
New guidelines will cap the interest lenders can charge borrowers who consolidate debt owed to multiple lenders within the same group.
Export proceeds must be repatriated and converted to local currency. The loan moratorium will be unwound gradually. Liquidity support will be provided to banks.
Investors must have at least BDT 5 million in stock investments to participate in the secondary market for SMEs listed on the new platform.
SEC and CSRC officials have agreed to explore the development and implementation of connectivity initiatives between their markets.
The bill will strengthen the legal framework for financial consumer welfare and foster greater public awareness on cybersecurity, the BSP said.
The industry has welcomed the MLF as a measure that will allow FIs to support their operations, protect the financial sector, and continue lending.
Sri Lankan banks are charging heavy premiums to execute FX transactions, claiming to not have US dollars available.
The guidelines set out a data governance approach that encompasses five aspects, allowing for flexibility to cater to the specific nature of a bank’s operations.
The guidelines include national digital ID system PhilSys as an accepted method for verifying customer identities, subject to proper authentication.
Loading more posts...
Sorry, no more posts
No more pages to load