Asia-Pacific

The Bangladesh Institute of Bank Management presented a report calling for reform of internal control and compliance departments at the country’s banks.

Sri Lanka’s financial crimes unit is investigating suspicious transactions originating from three Chinese-held accounts with LKR957 million.

Unauthorised transactions were prevented by central bank, no financial losses occurred; near breach prompts increased vigilance in the Philippines.

Cryptocurrency trades to be subject to 7 percent value added tax and 15 percent capital gains tax; fintech association chair says move may drive startups overseas.

Regulator has imposed a Tier 1 capital surcharge between 1 and 3.5 percent on the country’s systemically important banks.

BNM to introduce code of conduct for senior FI personnel, regulatory standards to govern banks’ increased outsourcing of functions.

New mechanism provides guidelines for SBV directors to take action as a credit institution profile weakens to contain risk.

Current and former regulators have voiced concern over the the accumulation of bad loans in the banking sector; value of bad loans has trebled in the past six years.

Securities Commission 2017 annual report reveals eligibility and application requirements for digital investment management; first robot-advisory license to be granted in 2018.

Central bank plans adoption of blockchain for interbank settlements, bond issuance; leading banks launch joint initiative on blockchain based letters of credit.