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AML / KYC
Bangladesh to Launch e-KYC for Bank Account Opening in January
By Editors | 31/10/2019
Account opening in Bangladesh currently takes 3-7 days. Based on pilot testing in 33 districts, the new e-KYC system will reduce this to just 5 minutes.
Market Infrastructure
Transitioning Away from IBORs: The View from Asia
By Garima Chitkara | 30/10/2019
Asian banks have a large and complex operational task ahead of them as they prepare for a post-LIBOR world after 2021, say KPMG’s Marie Gervacio and Luke Gower.
Capital / Liquidity
Philippines Mulls Imposing Limits on Lending Rates, Fees
By Editors | 30/10/2019
The BSP is considering placing limits on the interest rates and other fees lenders and finance companies can charge borrowers in response to a request from the SEC.
Market Infrastructure
BOT Solicits Comments on Draft ‘Thailand FX Code’
By Editors | 27/10/2019
The BOT invites wholesale FX market participants to comment on a draft ‘Thailand FX Code’ by 25 November.
Capital / Liquidity
BSP Announces New Round of Reserve Requirement Cuts
By Editors | 25/10/2019
The fresh 100bp RRR cut follows a 100bp cut announced last month and a three-step 200bp cut from May to July this year.
AML / KYC
Philippines to Start Issuing New National IDs in April
By Editors | 24/10/2019
The new IDs will make it easier for the unbanked to open accounts and avail of financial financial services, said BSP governor Benjamin Diokno.
Fintech / Regtech
Cambodia Announces Soft Launch of New Payment System
By Editors | 24/10/2019
Launched in partnership with 7 financial institutions, the new system will enable real-time interbank transfers, mobile payments, and QR code payments.
Securities / Derivatives
Myanmar to Open Stock Market to Foreign Nationals in Phases
By Editors | 24/10/2019
The SECM has decided to open the stock market only to foreign nationals living in Myanmar for the time being, but a new board planned for Q3 2020 will reportedly allow foreigners to trade freely.
Market Infrastructure
Philippines to Adopt QR Codes for Payments Nationally
By Editors | 24/10/2019
Once the national QR code standard is established, bank and non-bank payment providers will have 30 days for adoption. Those already offering QR-enabled payments will have until mid-2020.
Fintech / Regtech
Thailand SEC Approves First ICO Portal
By Editors | 23/10/2019
Under Thailand’s regulatory framework, ‘ICO portals’ help screen ICOs, conduct due diligence, prove smart contract source codes and verify KYC processes before they are released to the market.
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