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Capital / Liquidity
BSP Announces New Round of Reserve Requirement Cuts
By Editors | 25/10/2019
The fresh 100bp RRR cut follows a 100bp cut announced last month and a three-step 200bp cut from May to July this year.
AML / KYC
Philippines to Start Issuing New National IDs in April
By Editors | 24/10/2019
The new IDs will make it easier for the unbanked to open accounts and avail of financial financial services, said BSP governor Benjamin Diokno.
Fintech / Regtech
Cambodia Announces Soft Launch of New Payment System
By Editors | 24/10/2019
Launched in partnership with 7 financial institutions, the new system will enable real-time interbank transfers, mobile payments, and QR code payments.
Securities / Derivatives
Myanmar to Open Stock Market to Foreign Nationals in Phases
By Editors | 24/10/2019
The SECM has decided to open the stock market only to foreign nationals living in Myanmar for the time being, but a new board planned for Q3 2020 will reportedly allow foreigners to trade freely.
Market Infrastructure
Philippines to Adopt QR Codes for Payments Nationally
By Editors | 24/10/2019
Once the national QR code standard is established, bank and non-bank payment providers will have 30 days for adoption. Those already offering QR-enabled payments will have until mid-2020.
Fintech / Regtech
Thailand SEC Approves First ICO Portal
By Editors | 23/10/2019
Under Thailand’s regulatory framework, ‘ICO portals’ help screen ICOs, conduct due diligence, prove smart contract source codes and verify KYC processes before they are released to the market.
AML / KYC
FATF Removes Sri Lanka from ‘Grey List’; Pakistan to Remain
By Editors | 23/10/2019
Sri Lanka has made “significant progress” to address strategic AML/CFT deficiencies; Pakistan has only largely addressed 5 of 27 action items and has failed to meet agreed deadlines.
Capital / Liquidity
BSP Reduces Reserve Requirement for Bank Bonds
By Editors | 18/10/2019
The move to lower is aimed at deepening the debt market and reducing the intermediation cost that bond issuers could pass on to bond holders.
Capital / Liquidity
Philippines: BSP Approves Amended D-SIBs Framework
By Editors | 16/10/2019
A bank’s size and interconnectedness will be given greater importance in the assessment to determine its systemic importance in the Philippines.
AML / KYC
Philippines Makes Push to End Bank Secrecy
By Editors | 15/10/2019
BSP governor Benjamin Diokno has said the central bank wants to help convince lawmakers of the importance of lifting bank secrecy as part of a bill to grant amnesty to errant taxpayers.
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