Other Asia Pacific

AML / KYC

Philippines Makes Push to End Bank Secrecy

By Editors | 15/10/2019

BSP governor Benjamin Diokno has said the central bank wants to help convince lawmakers of the importance of lifting bank secrecy as part of a bill to grant amnesty to errant taxpayers.

Big Picture

China, Indonesia Lead Emerging Markets in Sustainable Banking

By Manesh Samtani | 14/10/2019

China and Indonesia have demonstrated pioneering policy actions and regulatory initiatives, resulting in changing practices at financial institutions, the Sustainable Banking Network says.

Market Infrastructure

BOJ Deputy Governor Calls for Collective Action on LIBOR Transition

By Manesh Samtani | 13/10/2019

LIBOR’s permanent discontinuation will be one of the “most significant events in global financial history”, BOJ deputy governor Masayoshi Amamiya said at ASIFMA’s Annual Conference.

Fintech / Regtech

Maybank to Enable Real-time Payments for Cambodia, Malaysia

By Editors | 12/10/2019

Cambodia’s central bank and Malaysia’s Maybank will work together to enable real-time cross-border transfers, payments and remittances between the two countries.

Market Infrastructure

Sri Lanka Finalises Personal Data Protection Bill

By Editors | 12/10/2019

The Bill was modelled after international practices including GDPR. Once ratified, it will be implemented in stages over three years.

Sanctions

Philippine SEC Proposes New Rules for REITs

By Editors | 10/10/2019

The SEC hopes to develop a viable REIT market to provide funding for infrastructure projects and investment opportunities for local investors.

Market Infrastructure

Thailand Banking Sector Resilient to Severe Shocks: IMF

By Editors | 10/10/2019

Stress tests results and sensitivity analysis indicate that Thailand’s largest banks can withstand a shock broadly “as severe as the Asian financial crisis”.

AML / KYC

BOT Plan to Allow Biometric e-KYC Delayed in Testing

By Editors | 09/10/2019

The BOT had planned to allow the use of biometric identity verification for account opening by Q3 this year, but testing in the sandbox has not yet been completed.

Capital / Liquidity

Initial Margin Challenges Confronting Asian Markets

By Purtini Joshi | 08/10/2019

DTCC’s Purtini Joshi outlines three key challenges firms need to address to ensure compliance with Phase 5 and Phase 6 implementation of initial margin regulations.