Fintech / Regtech

BOT Publishes New Consultation Paper on Virtual Bank Licensing Framework

By Editors | 19/06/2023

The consultation paper clarifies expectations for virtual banks to stimulate healthy competition and elaborates on the key qualifications of applicants.

Crypto / Digital Assets

Global Consortium Executes First “Quantum-Secure” Trade Transaction

By Sanday Chongo Kabange | 19/06/2023

The trade parties utilised IMDA’s ‘TradeTrust framework’ and placed a quantum-secure ‘seal’ on the electronic trade documents.

Crypto / Digital Assets

BIS Innovation Hub Concludes Joint CBDC Experiment With BOE

By Editors | 19/06/2023

Project Rosalind explored how a universal and extensible API layer could connect central bank and private sector infrastructures and facilitate retail CBDC payments.

Fintech / Regtech

New Zealand Updates Expectations on Use of Generative AI

By Editors | 18/06/2023

New Zealand Privacy Commissioner Michael Webster said AI users and developers need to make sure they are compliant with privacy law.

Fintech / Regtech

MAS Supports Balanced Approach to BNPL Regulation

By Editors | 16/06/2023

MAS said overly strict regulations would unnecessarily restrict BNPL providers and limit consumer choices.

Fintech / Regtech

BSP Proposes Enhance Guidelines for Electronic Fund Transfers

By Editors | 15/06/2023

In the event of unsuccessful transactions, financial institutions must return the amount to the sender within one hour.

Fintech / Regtech

Bangladesh Bank to Issue Guidelines for Digital Banking

By Mark Johnston | 14/06/2023

The central bank plans to finalise a new licensing framework for digital banks this month, after consulting with stakeholders.

Fintech / Regtech

India in Talks to Extend UPI’s Reach to Gulf Countries

By Editors | 13/06/2023

India’s NPCI, with support from the RBI, is in talks to establish bank-to-bank transfer systems for cross-border remittances to Bahrain and Saudi Arabia.

Fintech / Regtech

IFSCA Consults on Regulations for GIFT City Payment Firms

By Mark Johnston | 13/06/2023

The proposed regulations cover authorisation, supervision, governance arrangements, and risk management.

Fintech / Regtech

MAS Launches Annual FinTech Hackcelerator, Focusing on ‘AI in Finance’

By Sanday Chongo Kabange | 13/06/2023

Fintech firms and solution providers are invited to address 16 problem statements related to AI in the financial services industry.

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