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Bangladesh NBFIs to Require Approval for All Director Appointments
By Editors | 31/08/2022
The move is aimed at strengthening corporate governance, following a string of frauds and loan scandals in the NBFI sector.
Securities / Derivatives
Sri Lanka Launches Third Phase of Capital Market Digitisation
By Duruthu E Chandrasekera | 30/08/2022
SEC chairman Viraj Dayaratna said the CSE will introduce new products, including paper gold, SPACs, Islamic products, structured warrants and green bonds.
Fintech / Regtech
Indonesia, Singapore Commence Work on QR Payment Link
By Manesh Samtani | 29/08/2022
Bank Indonesia also launched the “international QRIS”, initially connecting to Thailand’s payment system, and have a retail CBDC in the works.
Enforcement
Myanmar Warns Against Illegal Foreign Exchange Trading
By Mark Johnston | 29/08/2022
The central bank warned that serious action will be taken against online businesses that are found to be illegally buying and selling foreign currencies.
Enforcement
Bangladesh Bank Intensifies Crackdown on Illegal FX Transactions
By Mark Johnston | 29/08/2022
Dozens of money changers are being investigated for money laundering. Several banks are accused of making “excessive” profits from dollar sales.
Big Picture
Addressing Fraud Risk Requires Multi-Pronged Approach – Report
By Editors | 29/08/2022
NICE Actimize and Regulation Asia have published a new white paper exploring the banking industry’s response to fraud and online scams in APAC.
Capital / Liquidity
Vietnam Sets Targets to Improve Banking System Health
By Editors | 25/08/2022
The MOF also aspires to have two to three Vietnamese commercial banks classified as among the top 100 strongest banks in Asia by 2025.
Crypto / Digital Assets
Indonesia Stops Registering New Crypto Businesses
By Editors | 24/08/2022
The moratorium is intended to allow the regulator to focus on improving the governance of crypto exchanges that are already registered.
AML / KYC
APG Issues 2022 Annual Typologies Report
By Manesh Samtani | 18/08/2022
The report calls for a shift towards characterising Illegal fishing as a predicate crime type for money laundering, to trigger a more effective AML/CFT response.
Market Infrastructure
Industry Calls for Reforms to EU Benchmarks Regulation
By Manesh Samtani | 15/08/2022
Many non-EU benchmarks won’t qualify under BMR in time for 31 December 2023, disproportionately impacting Asia exposures.
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