OTHER ASIA PACIFIC

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    Enforcement

    Bangladesh Bank Releases New PCA Framework for Commercial Banks

    By Ajoy K Das | 08/12/2023

    To protect the interest of depositors and ensure proper management, banks will be placed under four categories based on NPLs and CRAR.

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    Crypto / Digital Assets

    Solomon Islands Central Bank Starts Testing CBDC

    By Editors | 08/12/2023

    The central bank is testing the CBDC for retail transactions, P2P transfers, interbank transactions, and cross-border payments.

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    ESG / Sustainability

    Version 2 of ASEAN Taxonomy Affirmed by Stakeholders

    By Manesh Samtani | 03/12/2023

    The ASEAN Taxonomy Board said some feedback will be incorporated in the Version that will be effective in Q1 2023, and other improvements will be rolled out later.

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    AML / KYC

    Bangladesh Allows Foreign Firms to Open FX Accounts Domestically

    By Ajoy K Das | 03/12/2023

    Foreign nationals, companies operating abroad, and foreign institutional investors can open and maintain FC accounts with offshore banking operations of local banks.

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    Market Infrastructure

    Surge in Retail Investors Spurs Calls for Enhanced Derivatives Regulation

    By Nithya Subramanian | 30/11/2023

    Senior stock exchange officials emphasised the need for maintaining market order and product ecosystem diversity amid growing reliance on technology.

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    Big Picture

    APG Report Calls for Stronger AML/CFT Response to Illegal Fishing

    By Manesh Samtani | 30/11/2023

    Governments have “low levels of understanding” on the ML/TF risks posed by illegal fishing, leading to poor AML/CFT responses.

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    Crypto / Digital Assets

    Lessons ‘The Wealth of Nations’ Holds For DeFi 

    By Jill Wong | 29/11/2023

    DeFi is a disruption to markets built on financial intermediaries. How does Caspar Sauter apply traditional economic principles to running a DEX?

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    Myanmar Tightens Restrictions on Cash Withdrawals from Banks

    By Mark Johnston | 23/11/2023

    Customers are told they need to show strong evidence of need to make large withdrawals.

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    Fintech / Regtech

    Regulators Must Keep Pace with Technology to Manage Systemic Risks

    By Nithya Subramanian | 23/11/2023

    With frauds and crimes getting sophisticated, institutions and regulators need to assume an increased level of responsibility, said Deborah Young.

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    China, Cambodia Sign Yuan Clearing Agreement

    By Mark Johnston | 23/11/2023

    The PBOC and the NBC have signed a memorandum of cooperation to facilitate financial transactions in yuan and enhance economic ties.

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