The Securities and Exchange Commission of Pakistan has approved a four-member sharia advisory board to oversee Islamic financial products in the country.
Indonesia is preparing a five-year plan to develop Islamic finance by encouraging the three large state-owned Islamic banks to merge, a move that could spur smaller players to link up in order to remain competitive.
Bank Negara Malaysia, the country’s central bank, is revising guidelines on restructured and rescheduled (R&R) loans in a move that could impact the asset quality and earnings of local banks.
Two Japanese and one Singaporean bank will become the first foreign banks to operate in Myanmar in over 50 years, after receiving final regulatory approval from the central bank.
Securities market authorities from Singapore, Malaysia and Thailand have agreed to allow cross-border capital raising, aimed at deepening economic relationships among members of the southeast Asian nations.
Indonesia’s Financial Services Authority, or OJK, plans to release a regulation on the definition of foreign banks in the country, in a move that puts its policies in line with those of neighbouring nations Singapore and Malaysia.
Indonesia’s Financial Services Authority, or OJK, is expected to sign a bilateral agreement with China’s financial authority within the first three months of the year to pave the way for Indonesian lenders to expand into China.
Bursa Malaysia Berhad is revising the listing rules for the ACE market, aimed at boosting the competitiveness of the country’s secondary stock market.
Malaysia’s central bank is seeking industry views on proposals to amend the Development Financial Institutions Act 2002 to further strengthen the industry.
Australian Securities & Investment Commission chair Greg Medcraft has been elected a second term as chairman of the board of the International Organization of Securities Commissions.