Other Asia Pacific

Sanctions

Myanmar Allows Thai Baht to be in International Payments

By Editors | 14/08/2023

Myanmar’s Military Council has designated the Thai Baht as a currency for both international payments and account clearing.

AML / KYC

Bangladesh Banks Directed to Simplify Account Opening for NRBs

By Editors | 12/08/2023

Banks are directed to launch digital systems to enable non-resident Bangladeshis to open accounts and invest in the country from overseas.

Capital / Liquidity

Sri Lanka Frees Up $620m in Liquidity Through SRR Cut

By Editors | 11/08/2023

The CBSL cut the SRR from four percent to two percent to free up liquidity and support an expansion of credit flows to the economy.

AML / KYC

UOB to Tighten Restrictions on Myanmar Business from 1 September

By Mark Johnston | 10/08/2023

UOB will restrict payments to and from Myanmar accounts, card transactions for Myanmar individuals and banks, and close Myanmar banks’ nostro accounts.

AML / KYC

Cambodia to Leverage Indonesia Experience to Strengthen Non-Bank Financial Sectors 

By Editors | 10/08/2023

The MoU will help Cambodia enhance its non-bank financial services sectors, focusing on knowledge exchange and collaborative development.

Enforcement

Bangladesh Court Orders Probe into Conglomerate’s Offshore Investments

By Mark Johnston | 08/08/2023

The probe will investigate the owner of S Alam Group over an alleged $1bn in investments made offshore without central bank permission.

AML / KYC

Pakistan Passes Bill to Establish New AML/CFT Authority

By Editors | 04/08/2023

State Minister for Foreign Affairs Hina Rabbani Khar said the legislation will help to ensure Pakistan remains off the FATF grey list.

AML / KYC

Mongolia Becomes First APAC Country to Implement All FATF Recommendations

By Ranamita Chakraborty | 03/08/2023

While the 40 FATF Recommendations are not legally binding international conventions, Mongolia sees full compliance as validation for its efforts to improve anti-money laundering capabilities.

ESG / Sustainability

SGX-listed Companies Score High in Corporate Governance Study

By Ranamita Chakraborty | 03/08/2023

A recent study assessed the corporate governance practices of Singapore-listed companies, covering board responsibilities, rights of shareholders, engagement of stakeholders, accountability and audit, and disclosure and transparency.