Other Asia Pacific

Market Infrastructure

Sri Lanka Cabinet Approves Data Protection Bill

By Duruthu E Chandrasekera | 14/10/2021

Data controllers must ensure the security and confidentiality of personal data. The rights of data subjects will be enhanced. Cross-border transfers are allowed.

Fintech / Regtech

BSP Migrates to API-Based Regulatory Reporting

By Sanday Chongo Kabange | 14/10/2021

Banks have six months to enable capabilities to generate XML reports and ensure appropriate personnel is in place.

Market Infrastructure

Sri Lanka: CBSL Collaborates with Industry on Inward Remittances

By Duruthu E Chandrasekera | 12/10/2021

The central bank is working with banks, mobile operators, and government agencies to launch a new mobile app for inward remittances.

BSP Raises Loan Limits to Bolster Project Finance

By Editors | 11/10/2021

The single borrower limit was increased to mobilise funding toward projects that support the Philippines’ economic recovery efforts and nation building.

Fintech / Regtech

Laos Central Bank to Explore CBDC Issuance

By Sanday Chongo Kabange | 11/10/2021

To help explore the feasibility of a CBDC, the Bank of the Lao PDR has enlisted Japanese fintech Soramitsu, which also help developed Bakong in Cambodia.

Capital / Liquidity

Vietnam: SBV Seeks New Law on Bad Debt Resolution

By Ranamita Chakraborty | 11/10/2021

The law is needed to replace ‘Resolution 42’, which enabled the transparent sale of bad debts and collateral, but is due to expire next year.

Capital / Liquidity

BSP Proposes Prudential Requirements for Digital Banks

By Editors | 11/10/2021

The BSP proposes a 3 percent RRR for digital banks, aligning them with thrift lenders. A 7th licence will not be issued at the stage as previously planned.

ESG / Sustainability

OJK Indonesia Establishes New Sustainable Finance Task Force

By Ranamita Chakraborty | 10/10/2021

The task force comprises 47 financial institutions including banks, securities firms, insurers, pension funds and financiers.

BOT Issues Guidelines for Banks on Fair Lending

By Pongnut Thanaboonchai | 08/10/2021

The BOT sets out six steps for ensuring equitable lending practices, from the development of lending products to the sale of debts to other creditors.