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Anti-Money Laundering
FATF Keeps Pakistan on Grey List with 4 Action Items Outstanding
By Editors | 21/10/2021
Marcus Pleyer said “there is no discussion on blacklisting Pakistan” as its government has demonstrated a “clear commitment” and is cooperating with the FATF.
Cryptocurrency
Sri Lanka to Develop Regulatory Framework for Cryptocurrency
By Sanday Chongo Kabange | 15/10/2021
The committee will advise Sri Lanka’s cabinet on a regulatory framework for Sri Lanka for blockchain, digital banking and crypto mining.
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.
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.
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.
Fraud, Scams & Cybercrime
BSP Urges Passage of Bill to Tackle Rising Cybercrime
By Ranamita Chakraborty | 05/10/2021
The bill will strengthen the legal framework for financial consumer welfare and foster greater public awareness on cybersecurity, the BSP said.
KYC & CDD
BSP Updates e-KYC Guidelines for Financial Institutions
By Ranamita Chakraborty | 03/10/2021
The guidelines include national digital ID system PhilSys as an accepted method for verifying customer identities, subject to proper authentication.
Reporting & Disclosures
ASEAN Exchanges to Identify Common ESG Metrics
By Pongnut Thanaboonchai | 26/09/2021
Seven ASEAN exchanges have formed a new ESG working group to start work towards a ‘common sustainability programme’.
Trading & Investment
SEC Philippines Creates Office to Facilitate Capital Raising by SMEs
By Sanday Chongo Kabange | 22/09/2021
The new office will simplify capital raising, streamline registration processes, and promote SME-friendly underwriting and advisory programmes at FIs.
Payments & Settlements
BSP Issues Governance Policy for Operators of Payment Systems
By Editors | 21/09/2021
Payment system operators including banks and electronic money issuers have six months to comply with the requirements.
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