Philippines

The MoU is the first that brings together multiple ASEAN central banks under a single multilateral agreement to enhance cross-border payments.

Lenders have 18 months to use the new standard form, which the BSP says will make credit more accessible to small businesses.

The amendments target terrorist and proliferation financing and are aimed at helping the Philippines secure its removal from the FATF grey list.

Proposed rules governing the intraday liquidity facility are being circulated among banks and non-banks.

Union Bank's digital asset platform, developed by Swiss firm Metaco, went live last week, offering trading in bitcoin and ether.

The six fintech associations are from Singapore, Cambodia, Malaysia, the Philippines, Thailand and Vietnam.

Directors, trustees, and officers can be fined personally and barred for five years for failure to ensure compliance with beneficial ownership disclosure requirements.

The central bank has relaxed restrictions on secondary market trading of BSP Securities by UITFs with foreign participation.

The amendments will allow the BSP to look into deposit accounts for inquiries into fraud, serious irregularity, and unlawful activity.

Telcos are required to collect customer ID information when selling SIM cards. The law is aimed at curbing the spread of spam text messages and scams.