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Sanctions
Myanmar Exempts Foreign Firms from FX Conversion Rule
By Editors | 27/04/2022
An order requiring all foreign currency held in bank accounts to be converted into local currency will not apply to businesses in special economic zones and most other foreigners.
AML / KYC
TBML: Bangladesh Banks Ordered to Implement Vessel Tracking
By Editors | 24/04/2022
Bangladesh Bank issued the order to ensure banks comply with guidelines issued by BFIU requiring them to establish vessel-tracking systems.
Securities / Derivatives
BSEC Relaxes Circuit Breaker Limit, Disciplines Brokers
By Editors | 23/04/2022
The adjustment boosted market liquidity and fresh investments by participants, while the disciplinary actions helped to bolster investor confidence.
Vietnam Banks Heed SBV Directive, Limit Real Estate Loans
By Editors | 22/04/2022
The SBV had asked banks to direct credit away from risky areas such as real estate and towards productive industries.
ESG / Sustainability
Sri Lanka Must Provide ‘Adequate Assurances’ for IMF Assistance
By Duruthu E Chandrasekera | 22/04/2022
The UNDP says Sri Lanka should introduce a temporary basic income and negotiate “debt-for-nature” swaps. The stock market has been closed all week.
Market Infrastructure
LIBOR Transition Challenges Remain in APAC Loans Market
By Editors | 21/04/2022
In a survey of APLMA member institutions, more than half of respondents said they would not complete remediation of their legacy book until H1 2023.
Capital / Liquidity
Bangladesh Bank Issues Provisioning Policy for ‘Other Assets’
By Editors | 19/04/2022
Banks will have to hold ‘bad debt’ level provisions against funds allocated for certain business expenditures if they sit on the balance sheet as ‘other assets’ for over a year.
Securities / Derivatives
Bangladesh CSE, India MCX Partner to Establish Commodity Exchange
By Mark Johnston | 19/04/2022
The new commodity exchange in Bangladesh will introduce standardised commodity contracts and help address concerns over manipulation in domestic commodity trades.
AML / KYC
NY Court Acquits Two Philippine Casinos in Bangladesh Bank Case
By Editors | 18/04/2022
Bangladesh Bank says the court did not dismiss the entire case concerning its 2016 hack; only two of the 20 accused were acquitted due to “lack of jurisdiction”.
Fintech / Regtech
Vietnam Rushes to Finalise Regulatory Framework for Fintech Activities
By Mark Johnston | 17/04/2022
The SBV has warned of fraud incidents involving e-wallets and asks banks to monitor the use of data by fintechs until the new regulatory framework is in place.
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