Philippines

GoTyme Bank, a joint venture of digital banking group Tyme and members of the Gokongwei Group of companies, was awarded a Certificate of Authority.

The BSP has proposed draft rules to ease the documentary requirements for registering inward investments and FX remittances to fund investments.

Seven perpetrators of a PHP 3 billion investment scam were sentenced to 20 years in jail each on top of financial penalties. Four others remain at large.

The central banks of Indonesia, Malaysia, the Philippines, Singapore and Thailand will formally sign an agreement on payment connectivity in November.

Finance Secretary Benjamin Diokno directed the SEC to use digital technologies to improve monitoring, build investor trust, protect the investing public, and better serve the economy.

UnionDigital Bank commenced operations on Monday after receiving the BSP's green light for the launch last week.

The designation of PESONet and InstaPay as Prominently Important Payment Systems will mean they are subject to closer BSP supervision and monitoring.

The findings from institutional risk assessments should be used to enhance AML/CFT/CPF/sanctions compliance programmes and made available to the BSP during examinations.

The BSP has vowed to intensify monitoring and surveillance of the financial industry to ensure they "remain responsive to emerging risks".

Japan's METI has selected Soramitsu to conduct CBDC feasibility studies in other APAC countries, building on its work in Cambodia and Laos.