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Indonesia Completes Merger of Three State Owned Banks
By Ranamita Chakraborty | 04/02/2021
With total assets of over $17bn, Bank Syariah Indonesia is now one of the largest sharia banks in the country.
AML / KYC
Philippines Enacts AML Amendments to Avoid FATF Grey List
By Ranamita Chakraborty | 04/02/2021
Offshore gaming operators, their service providers, real estate developers and brokers have been brought into scope as covered entities.
AML / KYC
Thailand to Introduce Rules for Digital Asset Wallet Providers
By Editors | 02/02/2021
The SEC is concerned that digital asset wallets and custodian services could be used for drug offences and money laundering.
Sanctions
Myanmar Banks Reopen Amid Military-led State of Emergency
By Manesh Samtani | 02/02/2021
Some foreign banks have launched emergency safety measures, ordering employees to stay at home or halting operations indefinitely.
Capital / Liquidity
CBSL Reduced Risk Weights on Bank Mortgage Loans
By Duruthu E Chandrasekera | 01/02/2021
The Sri Lankan central bank has lowered the risk weights applicable to credit risk for foreign claims on the central government and residential housing loans.
Fintech / Regtech
Reporting in Asia: Cutting Through Complexity
By Amy Kwan | 01/02/2021
Specialists from Bloomberg highlight the need for high-quality data and automation through technology to manage day-to-day reporting and ensure compliance.
AML / KYC
BSP Updates VASP Rules to Align with FATF Requirements
By Editors | 28/01/2021
The updated rules also bring into scope virtual asset custodians, introducing a $1mn minimum capital requirement for such businesses.
AML / KYC
Fighting TBML to Sustain a Post-pandemic Recovery in APAC
By Claus Christensen | 27/01/2021
As we inaugurate the next phase of international trade, the FATF is pushing trade-based money laundering to the top of the international community’s agenda, says Claus Christensen at Know Your Customer.
Securities / Derivatives
Sri Lanka Issues Good Practices Guidelines for Stockbrokers
By Duruthu E Chandrasekera | 26/01/2021
The guidelines are mandatory and require immediate implementation. Three months’ grace is given for a new cap on investment advisor commissions.
Capital / Liquidity
2021 Outlook for BCBS 239 Compliance in Southeast Asia
By Irene Liu | 26/01/2021
PwC’s South East Asia Consulting team discusses progress made to comply with BCBS 239 in Southeast Asian jurisdictions, providing an outlook and recommendations for the year ahead.
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