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AML / KYC
Philippine President to Prioritise Bill to Ease Bank Secrecy Rules
By Manesh Samtani | 20/08/2021
The BSP welcomed the move, saying the bill will provide the central bank tools to investigate illegal activity and improve the safety of the banking system.
Capital / Liquidity
BOT to Increase Flexibility of Pillar 2 Rules for Banks
By Pongnut Thanaboonchai | 18/08/2021
The changes will account for new types of risk as well as ESG principles, which help to frame sustainable lending practices and risk management culture.
Capital / Liquidity
BOT to Offer Banks Incentives to Restructure SME Debt
By Pongnut Thanaboonchai | 17/08/2021
The BOT is considering reducing the amount of capital banks are required to set aside for NPLs as one possibility to incentivise debt restructuring.
Fintech / Regtech
Thailand, Indonesia Pilot Cross-border QR Payment Link
By Manesh Samtani | 17/08/2021
The full commercial launch will take place in Q1 2022. Indonesia has separately also launched a national open API payment standard.
Securities / Derivatives
Thailand SEC Set to Overhaul Mutual Fund Regulations
By Pongnut Thanaboonchai | 17/08/2021
The SEC proposes more principle-based and flexible requirements for the establishment of new funds and in the investment decision process.
Fintech / Regtech
Cambodia, Maybank Launch Cross-border Remittances Using ‘Bakong’
By Pongnut Thanaboonchai | 12/08/2021
Maybank customers in Malaysia can use the bank’s e-wallet to transfer funds to recipients in Cambodia with Bakong e-wallets.
Securities / Derivatives
Thai SEC Proposes More Flexible Rules for Fund Advertising
By Pongnut Thanaboonchai | 11/08/2021
More principle-based requirements will provide more flexibility to fund managers while still adequately protecting investors, the SEC said.
AML / KYC
North Korea Continues to Evade Sanctions – Report
By Editors | 10/08/2021
A draft report by a UN panel of experts says North Korea has continued to evade sanctions through open sea ship-to-ship transfers and other means.
AML / KYC
BSP to Finalise Members of Open Finance Body This Year
By Sanday Chongo Kabange | 10/08/2021
The open finance oversight committee which will formulate standards for consent-based data sharing will include representation from across the financial industry.
Capital / Liquidity
Thailand to Lower Deposit Protection to 1 Million Baht
By Pongnut Thanaboonchai | 10/08/2021
The maximum threshold of deposit protection will be lowered from 5 million baht to 1 million baht, effective from 11 August.
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