The increasingly high number of businesses that were dissolved in the first seven months of the year has weighed on operations of local banks, raising lenders’ bad debt ratio in the period.
In a sign of an increasing regulatory pressure for financial institutions in Asia Pacific, regulatory onboarding, entity data and client lifecycle management solutions provider Fenergo is expanding in the region.
Globally, regulators are evolving their Know Your Customer (KYC) and Anti-Money Laundering (AML) policies for doing business in their jurisdictions to increasingly stringent standards.
The Financial Services Authority (OJK) is seeking to consolidate Indonesia's banking sector, urging state-owned lenders to acquire stakes in regional banks or BPDs.
Taiwan plans to reopen its non deliverable forward (NDF) foreign exchange market in phases after the country closed this down the for the New Taiwan dollar in 1998.
Taiwan will study the possibility of launching a cross-border stock trading scheme with Japan in a bid to boost internationalization of the local bourse, said the country's top financial regulator.
Taiwan’s Financial Supervisory Commission vowed to support financial institutions' bid to expand into other Asian markets by easing a number of regulatory hurdles in the banking, insurance and securities brokerage industries.
Top officials of the ASEAN Exchanges said that member bourses are taking collaborative steps to create, market and promote ASEAN as a single asset class.
Accuity CEO Hugh Jones describes how advanced systems are revolutionising banks’ ability to meet regulations.
Indonesia may consider selling public stakes in banks and imposing lending quotas as part of plans to introduce reforms in the financial sector.