Banking & Finance

Top Story

BSP releases First Tranche of National Payment Systems Act IRR

MANILA, Apr 24 (PNA) - The Bangko Sentral ng Pilipinas (BSP) released the draft circular providing for the implementing rules and regulations (IRR) of Republic Act 11127 or the National Payment Systems Act (NPSA), a landmark legislation that supports the BSP's mandate relating to the third pillar of central banking -- the maintenance of a safe, efficient, and reliable payment system.

More Top Stories Read More

Other Headlines

Malayan Banking Bhd v Barclays Bank PLC

Banking - Electronic banking - Electronic funds transfer; Contract - Implied contracts; Contract - Illegality and public policy

Date: 12 April 2019; Court: High Court; Citation: [2019] SGHC(I) 4; Source: Singapore Law Watch

Enactment of 2019 National Budget to spur Economic Growth

MANILA, Apr 16 (PNA) - Finance Secretary Carlos Dominguez III hailed the signing into law of the PHP3.7-trillion 2019 national budget, citing its importance towards attaining sustained growth of the Philippine economy. “We fully support the President in his desire to focus national expenditure on projects and activities that redound to t ...
Date: 16 April 2019; Type: Legal News; Source: Philippine News Agency

BSP extends Transitory Period for Banks' Amended Reports

MANILA, Apr 14 (PNA) - The Monetary Board (MB) approved the extension of transitory period of the amended report on bank interest rates on loans and deposits until 31 December 2019.
Date: 14 April 2019; Type: Legal News; Source: Philippine News Agency

Consumer Credit Act Drawn-up to provide Syariah-Compliant Loans

KUALA LUMPUR, Apr 11 (Bernama) - The Housing and Local Government Ministry is drawing up the Consumer Credit Act which would ensure consumers get loans from syariah-compliant loan companies, the Dewan Rakyat was told today. Its minister Zuraida Kamaruddin said a townhall session was held with various government agencies to get their feedback o ...
Date: 11 April 2019; Type: Legal News; Source: Bernama

Federal Court rules Bank Negara SAC Findings Binding on Civil Courts

PUTRAJAYA, Apr 10 (Bernama) - The Federal Court in a 5-4 majority decision held that Bank Negara Malaysia's Shariah Advisory Council’s (SAC) findings on Islamic finance is binding on Civil Courts.
Date: 10 April 2019; Type: Legal News; Source: Bernama

Consultation Paper on Proposed Payment Services Regulations

The Payment Services Bill (the Bill) was introduced and passed in Parliament on 19 November 2018 and 14 January 2019 respectively. Under the Payment Services Act 2019 (PS Act), the Monetary Authority of Singapore (MAS) will regulate significant payment systems and the provision of payment services in Singapore. To effect the objectives of the PS Ac ...
Date: 10 April 2019; Type: Consultation Paper; Source: Monetary Authority of Singapore

Central Bank sets to tighten Unsecured Consumer Finance

Hanoi, Apr 9 (VNS/VNA) - Regulations on personal unsecured lending by consumer finance companies will be tightened if a draft circular of the State Bank of Vietnam (SBV) takes effect.
Date: 09 April 2019; Type: Legal News; Source: Vietnam News Agency

SSER fined RM18 Mln for infringing BNM Conditions over Pipeline Projects

KUALA LUMPUR, Apr 5 (Bernama) - Suria Strategic Energy Resources Sdn Bhd (SSER), a subsidiary of the Ministry of Finance which carried out two petrochemical and gas pipeline projects worth RM9.4 billion was today fined RM18 million by the Sessions Court here today for failing to comply with Bank Negara Malaysia (BNM) conditions.
Date: 05 April 2019; Type: Legal News; Source: Bernama

BNM to ensure SMEs continue to have access to financing

KUALA TERENGGANU, Apr 5 (Bernama) - Bank Negara Malaysia (BNM) will continue to improve cooperation with the finance industry to ensure entrepreneurs who are qualified and in need can obtain financing.
Date: 05 April 2019; Type: Legal News; Source: Bernama

Financial Advisers (Amendment No. 3) Regulations 2019

This is to notify that except for Regulation 5(c), the rest is deemed to have come into operation on 8 October 2018 and Regulation 5(c) is deemed to have come into operation on 8 January 2019.
Date: 05 April 2019; Type: Federal Subsidiary Legislation; Citation: No. S 294; Source: Singapore Statutes Online

Dewan Rakyat passes RM19.6 Billion Supplementary Budget

KUALA LUMPUR, Apr 4 (Bernama) - The Dewan Rakyat today approved the supplementary budget of RM19.6 billion proposed by Finance Minister Lim Guan Eng. The approval came after the third reading of the Supplementary Supply Bill (2018) and a motion on the First Supplementary Development Expenditure 2018 in front of Speaker Datuk Mohamad Ariff Md Y ...
Date: 04 April 2019; Type: Legal News; Source: Bernama

Vietnam to launch First Crytocurrency Exchange

Hanoi, Mar 28 (VNS/VNA) - Vietnam will soon launch a new cryptocurrency exchange – the first of its kind in the country.
Date: 28 March 2019; Type: Legal News; Source: Vietnam News Agency

BNM calls for Comprehensive Reform of Employment Sector

KUALA LUMPUR, Mar 27 (Bernama) - Bank Negara Malaysia (BNM) has called for a comprehensive reform of the country’s employment sector to attract quality investments that can generate more high-skilled jobs and offer better salaries. Governor Datuk Nor Shamsiah Mohd Yunus said currently, workers in Malaysia are not paid equitably despite p ...
Date: 27 March 2019; Type: Legal News; Source: Bernama

Appointments to the Accounting and Corporate Regulatory Authority Board

This is to notify that the Minister for Finance has appointed of a new member and re-appointed five members to the Accounting and Corporate Regulatory Authority Board. The appointments will take effect from 1 April 2019.
Date: 26 March 2019; Type: Press Release; Source: Ministry of Finance

National Bank to embrace Industry 4.0

The National Bank of Cambodia (NBC) will continue to promote the development of the Fourth Industrial Revolution in the Kingdom’s financial sector, according to its Macro-economic and Banking Sector Development in ...

Draft Law on monitoring Transactions passed more

Parliament passes into Law RAPBN 2019 in Plenary Session

Jakarta, Oct 31 (ANTARA News) - The House of Representatives (DPR) has passed into law the draft state budget (RAPBN) 2019 in a plenary session here on Wednesday. Finance Minister Sri Mulyani Indrawati said the draf ...

Government to set aside Special Allocation funds for National Museums House Commission approves Additional Budget for Industry 4.0 Bank Indonesia to prioritize Monetary Policy more

Government approves Special Budget for Flood Recovery

The government has approved a special budget of 500 billion kip (US$58 million) to repair public infrastructure that was damaged in last year’s floods, indicating that the remaining recovery work could soon begin.

Central Bank Governor gets New Legal Backing NA debates Draft Law on Central Bank Beware of Illegal Transactions by Fake Banks, Public warned more

Consumer Credit Act Drawn-up to provide Syariah-Compliant Loans

KUALA LUMPUR, Apr 11 (Bernama) - The Housing and Local Government Ministry is drawing up the Consumer Credit Act which would ensure consumers get loans from syariah-compliant loan companies, the Dewan Rakyat was told tod ...

Federal Court rules Bank Negara SAC Findings Binding on Civil Courts SSER fined RM18 Mln for infringing BNM Conditions over Pipeline Projects BNM to ensure SMEs continue to have access to financing more

Myanmar launches First Ever Municipal Citizen’s Budget

The Taunggyi Township Development Affairs Organisation (DAO) has become the country’s first-ever local-government authority to publish its citizen’s budget.

Bankers seek Clarity over Foreign Equity in Myanmar Banks CBM to publish Market-Based Reference Exchange Rate Local Banks permitted to extend More Mortgages more

BSP releases First Tranche of National Payment Systems Act IRR

MANILA, Apr 24 (PNA) - The Bangko Sentral ng Pilipinas (BSP) released the draft circular providing for the implementing rules and regulations (IRR) of Republic Act 11127 or the National Payment Systems Act (NPSA), a land ...

Enactment of 2019 National Budget to spur Economic Growth BSP extends Transitory Period for Banks' Amended Reports SEC makes Cease and Desist Order vs KAPA Permanent more

DPM and Industry Minister outline SME Bank Policy

BANGKOK, Dec 7 (NNT) - Deputy Prime Minister Somkid Jatusripitak and Minister of Industry Utama Saowanayon have handed down policies to the SME Development Bank (SME Bank) focused on aiding business operators in 2019 and ...

BoT relaxes Regulations to allow for Easier Loan Approvals Cabinet approves Special Budget to help Sugar Cane Growers Cabinet approves New Debt Moratorium Program for Eligible Farmers more

INDUSTRY UPDATES

SC, DOJ Buildings declared Safe

MANILA, Apr 24 (PNA) - Work resumed at the Supreme Court (SC) and the Department of Justice (DOJ) on Wednesday, after the magnitude 6.1 earthquake that shook parts of Luzon including Metro Manila last Monday.

More Industry Updates Read More

INDUSTRY UPDATES

SC asked to allow Poll Watchers to take Photos

MANILA, Apr 24 (PNA) - Various individuals and groups asked the Supreme Court (SC) to lift the ban imposed by the Commission on Elections (Comelec) on digital photo taking by watchers of candidates in the May 13 mid-term polls.

More Industry Updates Read More

INDUSTRY UPDATES

Makati Court hears Drug Case vs Ex-NBI Exec

MANILA, Apr 24 (PNA) - A prosecution witness positively identified the former acting regional director of the National Bureau of Investigation (NBI) in Central Mindanao as the owner of a 1,000-square meter lot in Virac, Catanduanes, where a shabu laboratory was uncovered three years ago.

More Industry Updates Read More

INDUSTRY UPDATES

Mobile Application on Labour Market Information Launched

PUTRAJAYA, Apr 23 (Bernama) - Information on Malaysia's labour market is now available at the fingertips with the launch of a new mobile application, Labour Market Information Gateway or LMI Gateway today.

More Industry Updates Read More

INDUSTRY UPDATES

Former Lawyer Pleads not Guilty to CBT Over Client's House Sale Proceeds

KUALA LUMPUR, Apr 23 (Bernama) - A former lawyer pleaded not guilty at the Sessions Court here today to a charge of criminal breach of trust amounting to RM338,000 which was the proceeds from the sale of a house belonging to his client three years ago.

More Industry Updates Read More

INDUSTRY UPDATES

Manila Court orders Arrest of Acierto, Seven Others

MANILA, Apr 23 (PNA) - A Manila court has ordered the arrest of former police official Eduardo Acierto and seven others implicated in the smuggling of shabu shipments inside magnetic lifters last year.

More Industry Updates Read More

INDUSTRY UPDATES

SC orders Inspection of Court Houses in Quake-Affected Areas

MANILA, Apr 23 (PNA) - Chief Justice Lucas Bersamin on Tuesday ordered an inspection of all court houses in areas affected by the magnitude 6.1 earthquake that hit Luzon on Monday afternoon.

More Industry Updates Read More

INDUSTRY UPDATES

Cybersecurity Challenge should be viewed as an Opportunity - Gobind

CYBERJAYA, Apr 23 (Bernama) - A national innovation ecosystem needs to be developed to transform cybersecurity challenges towards forming new opportunities, ideas and solutions, Communications and Multimedia Minister Gobind Singh Deo said today.

More Industry Updates Read More

INDUSTRY UPDATES

Malaysia signs ASEAN Trade in Services Agreement

KUALA LUMPUR, Apr 23 (Bernama) - Malaysia has signed the ASEAN Trade in Services Agreement (ATISA) and the Fourth Protocol to Amend the ASEAN Comprehensive Investment Agreement (ACIA).

More Industry Updates Read More

INDUSTRY UPDATES

Former Lawyer charged with Criminal Breach of Trust

SEREMBAN, Apr 23 (Bernama) - A former lawyer pleaded not guilty in the Sessions Court here today to criminal breach of trust involving RM198,592.50, nine years ago.

More Industry Updates Read More

INDUSTRY UPDATES

PCC seeks Own Probe on Luzon Power Outages

MANILA, Apr 22 (PNA) - The Philippine Competition Commission (PCC) announced that it will investigate allegations of collusion or abuse of dominance among energy companies that led to the recent series of power outages in Luzon.

More Industry Updates Read More

INDUSTRY UPDATES

Right to Freedom of Religion guaranteed under Federal Constitution

KOTA BELUD, Apr 21 (Bernama) - The right to freedom of religion of every Malaysian is guaranteed under the Federal Constitution, said Sabah Rural Development Minister Datuk Ewon Benedick.

More Industry Updates Read More

INDUSTRY UPDATES

Sabah and Sarawak High Court Registrar's Office to move to Kota Kinabalu

SANDAKAN, Apr 21 (Bernama) -- Minister in the Prime Minister’s Department Datuk Liew Vui Keong today confirmed that the Office of the Registrar of the Sabah and Sarawak High Court will be relocated from Kuching to Kota Kinabalu.

More Industry Updates Read More

INDUSTRY UPDATES

Government awaits Approval from Malay Rulers on New Chief Justice - Mahathir

KUALA LUMPUR, Apri 19 (Bernama) - The government is awaiting approval from the Malay Rulers for the appointment of a new Chief Justice, Prime Minister Tun Dr Mahathir Mohamad said today.

More Industry Updates Read More

INDUSTRY UPDATES

Double Pay for Workers on Maundy Thursday, Good Friday

MANILA, Apr 17 (PNA) - Workers who will report to work on April 18 and 19 will receive twice their regular daily wages as both days have been declared regular holidays, the Department of Labor and Employment (DOLE) said Wednesday.

More Industry Updates Read More

INDUSTRY UPDATES

Palace suspends Government Work for Holy Week Exodus

MANILA, Apr 17 (PNA) - Malacañang suspended work on Wednesday (April 17), 12 noon onwards, to allow government employees to travel to their respective regions in time for the observance of Maundy Thursday (April 18) and Good Friday (April 19).

More Industry Updates Read More

INDUSTRY UPDATES

JBC asks Applicant to comment on Gadon Opposition

MANILA, Apr 16 (PNA) - The Judicial and Bar Council (JBC) has asked an applicant for a vacancy in the Court of Tax Appeals (CTA) to comment on an opposition to her appointment filed last month by senatorial candidate and lawyer, Lorenzo "Larry" Gadon.

More Industry Updates Read More

INDUSTRY UPDATES

PCC approves Ayala-PHINMA Energy Deal

MANILA, Apr 15 (PNA) - The Philippine Competition Commission (PCC) has approved the acquisition of the majority stake in PHINMA Energy by Ayala Corporation’s power branch, AC Energy.

More Industry Updates Read More