Other Asia Pacific

AML / KYC

Australia, US to Help Boost Correspondent Banking in Pacific

By Manesh Samtani | 11/07/2024

Australia pledged A$6.3mn in funding to help counter the decline in correspondent banking services in the Pacific.

Sanctions

Thai Banks Facilitating Procurement for Myanmar Military: UN Report

By Nithya Subramanian | 28/06/2024

A UN report identifies 16 banks in seven countries that have processed transactions linked to procurement for Myanmar’s military junta.

AML / KYC

Vietnam Made “Minimal Progress” to Address AML Deficiencies

By Manesh Samtani | 27/06/2024

Vietnam was upgraded on just one recommendation for strengthening its correspondent banking requirements. The country is moved to enhanced follow-up.

Securities / Derivatives

Bangladesh’s First ETF Launch Delayed Due to Poor Investor Interest

By Ajoy K Das | 27/06/2024

LankaBangla Asset Management seeks further extension of subscription period after funds collected fall short of minimum requirement.

AML / KYC

Vietnam to Require Biometric Authentication for Money Transfers

By Editors | 26/06/2024

The new regulation also prohibits individuals from buying, selling, renting, leasing, or borrowing transaction accounts.

ESG / Sustainability

Pacific Island Nations Commit to Inclusive Green Finance

By Mark Johnston | 25/06/2024

The central banks of seven Pacific island nations signed a roadmap committing them to working together to boost inclusive green finance as a priority.

AML / KYC

Myanmar Junta Targets Privately Owned Yoma Bank and CEO

By Editors | 22/06/2024

Yoma Bank and its CEO are being investigated by the military junta for transferring assets to Thailand and offering financing for overseas real estate purchases.

Securities / Derivatives

Bangladesh Tightens Norms for Appointment of Auditors

By Ajoy K Das | 20/06/2024

Market intermediaries are only allowed to appoint auditors from firms that are approved by BSEC. Errant auditors can be declared ineligible.

Enforcement

Fractional Real Estate Sales Halted by Vietnam Regulator

By Mark Johnston | 19/06/2024

The SSC has halted fractional real estate sales in Vietnam by a securities firm, citing a lack of specific regulations and investor safety concerns.