Other Asia Pacific

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    Bangladesh Bank Establishes Committee to Vet Bank CEO Nominees

    By Ajoy K Das | 07/03/2024

    Central bank to approve appointment of CEOs at banks only after receiving positive report from the committee Bangladesh Bank has […]

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    ESG / Sustainability

    Too Much Leeway Offered by Updated ASEAN Taxonomy

    By ESG Investor | 07/03/2024

    Second version of the voluntary guidance limits utility to investors by allowing companies and countries to “pick and choose”.

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    AML / KYC

    Financial Crime Compliance Costs Grow in APAC: Study

    By Nithya Subramanian | 06/03/2024

    A study from LexisNexis Risk Solutions finds the higher costs are attributed to technology, labour, and the growing use of crypto and AI tech for illicit activities.

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    AML / KYC

    Vietnam to Develop Legal Framework for Crypto by 2025

    By Sanday Chongo Kabange | 05/03/2024

    The government has directed the Ministry of Finance to develop a legal framework for banning or regulating virtual assets.

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    Securities / Derivatives

    Cambodia Inaugurates New Securities Investors Association

    By Editors | 05/03/2024

    The new association will provide training and represent the investors on matters such as legal protection and market development.

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    Fintech / Regtech

    Malaysia, Cambodia Agree to Link Payment Systems

    By Editors | 05/03/2024

    BNM and NBC agreed to encourage the use of local currency settlement and to link their payment systems to enable cross-border QR payments.

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    Capital / Liquidity

    Bangladesh Bank Relaxes CRR Norms for Offshore Banking

    By Ajoy K Das | 05/03/2024

    To facilitate foreign trade, offshore banking units will no longer be required to maintain a Cash Reserve Ratio with the central bank.

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    Bangladesh Launches New System for Reporting FX Transactions

    By Ajoy K Das | 04/03/2024

    The FX Dashboard removes the need for banks to submit physical documents for forex transactions and will improve central bank monitoring.

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    Enforcement

    NY Court Allows Bangladesh Case Against RCBC to Proceed

    By Editors | 03/03/2024

    Bangladesh Bank’s lawsuit against the Philippines’ RCBC and its senior executives will be allowed to proceed, minus three causes of action.

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    Big Picture

    CROs in Asia-Pacific Concerned About Operational Resilience: Survey

    By Nithya Subramanian | 28/02/2024

    The latest findings by EY and IIF revealed that bank CROs are most worried about technology risk, a key driver of operational disruptions.

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