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AML / KYC
Sri Lanka Fines 2 Banks, 3 Finance Firms for AML Failures
By Duruthu E Chandrasekera | 29/07/2020
Sri Lanka’s FIU has revealed that two banks and one finance company were penalised in 2019, and two other finance companies in 2020.
Bangladesh Relaxes Rules on Obtaining Credit for Foreign Firms
By Duruthu E Chandrasekera | 29/07/2020
Foreign-owned and controlled companies in Bangladesh will be able to obtain local currency loans using guarantees from overseas entities, the latest in a string of relaxations.
Capital / Liquidity
Bangladesh Bank Spares No Effort to Boost CMSME Lending
By Editors | 27/07/2020
In the past week, the central bank has sharply eased loan classification and provisioning rules, and offered credit guarantees, to try and address an unwillingness among banks to lend to small businesses.
Market Infrastructure
Data: Fault Lines Criss-crossing Asia’s Capital Markets
By Matthew Chan | 27/07/2020
Global harmonisation and progressive thinking are needed to support data connectivity between markets, says Matthew Chan at ASIFMA.
AML / KYC
BOT Green-lights Use of Facial Recognition Tech at Five Banks
By Editors | 26/07/2020
BOT has issued new guidelines on the use of biometric technology in financial services, and granted approval to five banks to use facial recognition in account opening.
Securities / Derivatives
BSEC Needs to Step Up Its Game, say Market Participants
By Duruthu E Chandrasekera | 25/07/2020
BSEC is working to speed up the IPO process and barriers to listing, amid calls for more diversified products and better transparency and governance in the capital market.
Market Infrastructure
Covid Disrupts APAC LIBOR Transition, But Market Participants Unfazed
By Editors | 23/07/2020
A poll of APAC corporate treasury, finance and legal executives by APLMA and Bloomberg showed most participants still aim to be on track for the move to risk-free-rates by end-2021.
Sri Lanka Banks No Longer ‘Scared’ to grant Covid-19 Loans
By Duruthu E Chandrasekera | 23/07/2020
Banks no longer need to risk weight the loans against capital due to a guarantee scheme announced by CBSL earlier this month.
Capital / Liquidity
BSP Cuts Reserve Requirements for Smaller Banks
By Editors | 21/07/2020
The move to lower the reserve requirement ratio for thrift, rural and cooperative banks will release an estimated $200mn into the economy.
Capital / Liquidity
Indonesia Gives Deposit Insurer Powers to Prevent Bank Failures
By Editors | 19/07/2020
The Indonesia Deposit Insurance Corporation can now raise its own funding and provide temporary liquidity support to banks outside of resolution.
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