Other Asia Pacific

Data Privacy

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.

Capital Adequacy

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.

Payments & Settlements

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.

Credit Risk

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.

CBDCs

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.

Credit Risk

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.

Emerging Prudential Risks

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.

Sustainable Finance

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.

Conduct, Culture & Accountability

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.