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AML / KYC
Sri Lanka Shortlists Three Firms to Build Shared KYC Facility
By Duruthu E Chandrasekera | 07/07/2020
The three shortlisted firms, including one from Sweden, will begin work on a proof-of-concept, which is expected to be completed in six to nine months.
Fintech / Regtech
BSP Set to Issue Digital Bank Licensing Framework
By Editors | 07/07/2020
Foreign individuals will be allowed to own up to 40% of a digital bank, while qualified foreign banks can own up to 100%.
Capital / Liquidity
BCBS Releases 18th Progress Report on Basel III Adoption
By Editors | 06/07/2020
In Asia Pacific, Hong Kong, Korea and Indonesia have in particular made significant progress towards implementing the Basel III standards.
Securities / Derivatives
Nearly 500,000 Australians Deplete Retirement Savings
By Editors | 05/07/2020
Industry Super Australia estimates that 480,000 Australians have wiped out their superannuation savings through the government’s early release scheme.
Securities / Derivatives
BSP On Course to Issue Central Bank Securities in Q3
By Editors | 05/07/2020
February 2019 amendments to the Central Bank Act restored the BSP’s authority to issue debt paper as part of its regular operations to manage liquidity and monetary policy.
Securities / Derivatives
Sri Lanka Bourse to Introduce Easier Listing Rules from 15 July
By Duruthu E Chandrasekera | 04/07/2020
Requirements on capital, profitability and net assets have been relaxed to pave the way for new listings from start-ups and tech firms.
Market Infrastructure
BSP Approves New Payment System Oversight Framework
By Editors | 02/07/2020
The BSP will be empowered to designate a payment system as systemically important, and replace its operator for a failure to satisfy regulatory obligations.
Sri Lanka: CBSL to Absorb Credit Risk on Business Loans
By Editors | 02/07/2020
The CBSL will provide credit guarantees ranging from 80% for smaller loans to 50% for larger loans issued to businesses affected by Covid-19.
Market Infrastructure
Philippine SEC Seeks Independent Board at Stock Exchange
By Editors | 01/07/2020
The Philippine Stock Exchange currently has three independent directors on its 15-seat board. Under the proposed rules, a majority of the directors will have to be independent.
Fintech / Regtech
BOT Opens Applications for New FX E-Money Licences
By Editors | 30/06/2020
Non-bank operators can apply for a new licence to issue e-money in foreign currencies for customer payments for cross-border goods and services.
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