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BSP Proposes to Impose Cap on Credit Card Finance Charges
By Editors | 31/08/2020
The BSP says it is looking to impose a maximum finance charge equivalent to an effective annual interest rate of 24 percent for credit card cash advances and installment purchases.
Securities / Derivatives
Philippines Issues Rules on New Investment Vehicle for Corporate Debt
By Editors | 26/08/2020
Corporate Debt Vehicles can issue securities to invest in bonds, notes or commercial papers issued by large corporations and medium-sized enterprises.
Securities / Derivatives
Thailand SEC to Allow Repo, Reverse Repo Trades by Retail Investors
By Editors | 25/08/2020
Allowing repo and reverse repo trades in listed securities and unit trusts with all investor types will provide them additional liquidity management tools, the SEC said.
Capital / Liquidity
BOT to Launch Debt Restructuring Programme for Businesses
By Sanday Chongo Kabange | 24/08/2020
The new programme is designed to help businesses to restructure debt owed to multiple creditors. A similar programme for household borrowers already exists.
Crypto / Digital Assets
Malaysia, Indonesia Regulators Sign Fintech Cooperation Pact
By Sanday Chongo Kabange | 24/08/2020
The agreement aims to facilitate information sharing, provide joint innovation opportunities, and facilitate cross-border referrals of fintech businesses.
AML / KYC
Pakistan Issues Consolidated List of Sanctioned Individuals, Entities
By Editors | 23/08/2020
The Ministry of Foreign Affairs says various sanctions were already in place against almost all of the individuals and entities listed by the United Nations Security Council.
AML / KYC
Thailand SEC to Simplify KYC Rules for Low Risk Investment Products
By Editors | 22/08/2020
The SEC proposes to simplify KYC requirements for low-risk investment products such as local money market funds with daily redemption, subject to a THB 50,000 investment limit per account.
Capital / Liquidity
BSP Relaxes Real Estate Lending Limits for Banks
By Editors | 21/08/2020
The higher limit will encourage bank lending to households for the acquisition or construction of a residential real estate property the BSP said.
Fintech / Regtech
BSP Takes Consumer Complaints Chatbot Live
By Sanday Chongo Kabange | 20/08/2020
The trilingual automated chatbot can handle queries and complaints from consumers sent through chat via the BSP website, SMS, or Facebook messenger.
Enforcement
Sri Lanka to Commence Probe into State Bank Fraud
By Duruthu E Chandrasekera | 20/08/2020
Bank of Ceylon, People’s Bank, National Savings Bank, Regional Development Bank, and their related institutions will be probed for irregularities.
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