Friday, 24 November 2017
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First Regional Risk Assessment of Terrorism Financing of Non-Profit Organisations

The first regional risk assessment of non-profit organisations (NPOs) in eight Asia-Pacific nations has identified a medium risk of terrorism financing.

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SC Releases Updated List of Syariah-Compliant Securities

KUALA LUMPUR, Nov 23 (Bernama) - The Securities Commission Malaysia (SC) has released an updated list of Shariah-compliant securities approved by its Shariah Advisory Council.
Date: 23 November 2017; Type: Legal News; Source: Bernama

MAS seeks Power to make Competing Banks open e-Payment Rails

The Monetary Authority of Singapore wants more power to ensure the interoperability for payment systems.
Date: 22 November 2017; Type: Legal News; Source: Singapore Law Watch

BNM to enforce Crypto Regulation Next Year

KUALA LUMPUR, Nov 22 (Bernama) - Bank Negara Malaysia (BNM) will designate persons converting crypto currencies into fiat money as reporting institutions under the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 beginning next year.
Date: 22 November 2017; Type: Legal News; Source: Bernama

House seeks to strengthen PCIC

The House committee on appropriations chaired by Rep. Karlo Alexei Nograles (1stDistrict, Davao City) approved a substitute bill seeking to strengthen the Philippine Crop Insurance Corporation (PCIC) and improve its capability to provide farmers with additional government support to raise agricultural production.
Date: 17 November 2017; Type: Legal News; Source: Philippine News Agency

New Version of Public Debt Management Act brought into effect

BANGKOK, Nov 17 (NNT) - The National Legislative Assembly has resolved to endorse the updated version of the Public Debt Management Act, which is intended to help boost the government’s handling of the issue.
Date: 17 November 2017; Type: Legal News; Source: National News Bureau of Thailand

Finance Minister issues Clarifications on State Assistance for Low-Wage Earners

BANGKOK, Nov 15 (NNT) - The Ministry of Finance has revealed that the government is planning to provide assistance for low-income earners in two phases, the first of which is the current welfare card program. The second one will focus on career support.
Date: 15 November 2017; Type: Legal News; Source: National News Bureau of Thailand

New Payment Services Bill to exemplify ‘Risk-Specific, Activity-Based’ Approach

The Payment Services Bill which aims to “right-size” regulations to cater to developments in electronic payments will be published by Monetary Authority of Singapore for public consultation.  
Date: 14 November 2017; Type: Legal News; Source: Singapore Law Watch

Guidelines on the Voluntary Acceptance by Banks of NDS Banknotes from the General Public for Replacement or Exchange with NGC Banknotes

A new deadline was established for the replacement or exchange of New Design Series (NDS) Banknotes with the BSP from the general public not later than 29 December 2017 pursuant to Circular No. 977. Memorandum No. M-2017-036
Date: 10 November 2017; Type: Circular; Source: Central Bank

Penang's 2018 Budget of RM1.25 Billion approved

GEORGE TOWN, Nov 14 (Bernama) - The Penang State Legislative Assembly sitting today passed the Supply Bill 2018 which has allocated RM1.25 billion for the state's 2018 Budget.
Date: 14 November 2017; Type: Legal News; Source: Bernama

House paves way for Insurance Coverage to CARP Recipients

The House committee on appropriations chaired by Rep. Karlo Alexei Nograles (1st District, Davao City) approved a substitute bill which seeks to grant full insurance coverage to all qualified Agrarian Reform Beneficiaries (ARBs) of the Comprehensive Agrarian Reform Program (CARP). The committee approved the unnumbered substitute bill of House ...
Date: 08 November 2017; Type: Legal News; Source: House of Representatives

Kedah tables RM1.38 Billion Budget for 2018

ALOR SETAR, Nov 12 (Bernama) - The Kedah Government today tabled a budget of RM1.38 billion for 2018, with a deficit of RM75.72 million or 9.71 per cent.
Date: 12 November 2017; Type: Legal News; Source: Bernama

Bursa Securities approves Listings of Sime Darby Units

KUALA LUMPUR, Nov 10 (Bernama) - Bursa Malaysia Securities Bhd has approved the applications for the admission of Sime Darby Plantations and Sime Darby Property to the official list of Bursa Malaysia.
Date: 10 November 2017; Type: Legal News; Source: Bernama

Pereira, Dennis John Sunny v United Overseas Bank Ltd

Credit and Security - Mortgage of real property - Mortgagee’s rights
Date: 09 November 2017; Court: Court of Appeal; Citation: [2017] SGCA 62; Source: Singapore Law Watch

DOF focusing on 3 Initiatives to improve Ease of doing Business

The Department of Finance is harnessing the power of digital technology to implement three major initiatives in improving the ease of doing business in the country.
Date: 05 November 2017; Type: Legal News; Source: Department of Finance

OJK issues Permits to 10 Islamic Microfinance Institutions (LKM)

Cirebon, Oct 20 - The Financial Services Authority (OJK) has granted operating licenses to 10 (ten) Islamic microfinance institutions (Islamic LKM), which are expected to empower communities and raise public welfare, par ...

Investment Alert Task Force suspends 14 Business Activities to protect Public Government prepares New Micro Business Loan for Production Sector House passes State Budget Bill into Law more

Beware of Illegal Transactions by Fake Banks, Public warned

The Bank of the Lao PDR has warned members of the public to beware of unauthorised bank accounts after learning that some people have been tricked into making transactions with fake banks.

New Service Fee Regulation to boost SME, Selected Sectors License issuance for new Financial Institutions suspended more

Change of Fiscal Year approved despite High Level of Scepticism

A new budget period starting from October 1 to September 30 will commence in the 2018-19 fiscal year. The Myanmar governments current fiscal year is the 12-month period from April 1 to March 31. A letter proposing the ch ...

Government proposes Change in Budget Period Regulatory Roadmap needed for Banking Sector Reform PAC wants Detailed Budget Proposals on Time more

House seeks to strengthen PCIC

The House committee on appropriations chaired by Rep. Karlo Alexei Nograles (1stDistrict, Davao City) approved a substitute bill seeking to strengthen the Philippine Crop Insurance Corporation (PCIC) and improve its capa ...

Guidelines on the Voluntary Acceptance by Banks of NDS Banknotes from the General Public for Replacement or Exchange with NGC Banknotes House paves way for Insurance Coverage to CARP Recipients DOF focusing on 3 Initiatives to improve Ease of doing Business more

New Version of Public Debt Management Act brought into effect

BANGKOK, Nov 17 (NNT) - The National Legislative Assembly has resolved to endorse the updated version of the Public Debt Management Act, which is intended to help boost the government’s handling of the issue.

Finance Minister issues Clarifications on State Assistance for Low-Wage Earners Cabinet green lights Voluntary Senior Citizens Donation Fund Finance Minister mulling Law for handling Dormant Bank Accounts more

Industry Updates

Request for Feedback on Issues relating to Pekeliling Ketua Pendaftar Bil 2 Tahun 2017

The Bar Council Court Liaison Committee ("CLC") is requesting for Members to provide their feedback on issues faced since the coming into effect of Pekeliling Ketua Pendaftar Bil 2 Tahun 2017: Garis Masa (Timeline) Penyelesaian Kes Jenayah dan Sivil Bagi Mahkamah Rendah, pertaining to timelines for the completion of criminal and civil cases heard at the Subordinate Courts across Peninsular Malaysia.

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Industry Updates

EC to request Clarity about Next Election from Constitutional Court

BANGKOK, Nov 22 (NNT) - The Election Commission plans to ask the Constitutional Court for clarification about its authority to hold the next general election.

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Industry Updates

ETDA to produce 12,000 Cyber Security Experts by 2021

BANGKOK, Nov 23 (NNT) - The Electronic Transactions Development Agency (ETDA) and leading institutions in the country have banded together to develop cyper security personnel for the Thailand 4.0 digital era.

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No Reports of Terrorism Financing using Digital Currency in Malaysia - Bank Negara

KUALA LUMPUR, Nov 23 (Bernama) - No cases have been detected in Malaysia of the use of digital currencies for terrorism financing, said Director of Financial Intelligence and Enforcement of Bank Negara Malaysia, Abd Rahman Abu Bakar.

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Industry Updates

Government winning War against Contractualization - Bello

The labor department is winning the war to eliminate labor-only contacting and other forms of illegal contracting arrangements, Labor Secretary Silvestre Bello III said yesterday.

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Industry Updates

Attorney General to resurrect Court Cases against Thaksin Shinawatra

BANGKOK, Nov 22 (NNT) - The Office of the Attorney-General is planning to resurrect two cases against former Prime Minister Thaksin Shinawatra as allowed by the new anti-corruption law.

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Industry Updates

Roque is concurrent Presidential Adviser on Human Rights

MANILA, Nov 22 (PNA) - Presidential Spokesperson Harry Roque has been appointed by President Rodrigo Duterte as concurrent Presidential Adviser on Human Rights.

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Industry Updates

KL Court Director meets Court Reporters to improve Ties

KUALA LUMPUR, Nov 22 (Bernama) - Kuala Lumpur Court Director Ahmad Kamar Jamaludin today convened a meeting with court reporters from various media organisations to improve ties and discuss issues related to court reporting.

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Industry Updates

MIDA to help SMEs Gain Access to Global Market

KUALA LUMPUR, Nov 22 (Bernama) - The Malaysian Investment Development Authority (MIDA) aims to create opportunities for small and medium enterprises (SMEs) to access the global market and encourage multinational corporations (MNCs) to utilise local products and services.

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House to work on Priority Bills during SC Chief Impeach Proceedings

House leaders today assured that Congress will remain focused on passing its remaining legislative priorities for the year and will not be distracted by the hearings of the committee on justice on the determination of probable cause of the impeachment complaint filed against Supreme Court Chief Justice Maria Lourdes Sereno.

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Industry Updates

Sussing out Weak Links in Cyber Defence

Cyber Security Agency Chief says that the new bill doesn't give agency broad powers to oversee every computer in Singapore, but are only linked to cyber security events.

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Industry Updates

BoT allows Five Banks to operate E-Payment QR Codes

BANGKOK, Nov 18 (NNT) - The Bank of Thailand (BoT) has allowed five financial institutions to fully operate their National E-Payment services from today.

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