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CBM to approve QR Code Payment Transactions soon

Digital payments using QR codes will be introduced to Myanmar as soon as the framework for such payments are ready.

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Finance Ministry cuts Micro Finance Loan Interest Rates

A new directive from the Ministry of Planning and Finance (MOPF) has reduced interest rate for microfinance loans and compulsory saving. The new rates are to take effect at the beginning of this month but the announcement was released after four days of the effective date, causing microfinance institutions to be in a difficult position.
Date: 11 June 2019; Type: Legal News; Source: Myanmar Times

Government Bond futures Contracts to be launched

Hanoi, Jun 8 (VNA) - Government bond futures contract, a new product in the derivatives market, will be traded on the Hanoi Stock Exchange on July 4, the State Securities Commission (SSC) has said. Preparations for the launch of five-year Government bond futures contract have been completed, SSC said. Building a derivatives market aims to ...
Date: 08 June 2019; Type: Legal News; Source: Vietnam News Agency

Bursa Malaysia seeks Feedback on Proposed Rule Amendments for CDS eServices

KUALA LUMPUR, May 31 (Bernama) - Bursa Malaysia Bhd has issued a consultation paper seeking public feedback on the proposed amendments to the Rules of Bursa Malaysia Depository Sendirian Bhd (Bursa Depository) to facilitate a suite of central depository system (CDS) eServices for individual depositors. The features for the new CDS eServices wi ...
Date: 31 May 2019; Type: Legal News; Source: Bernama

Central Bank to continue managing Monetary Policy

Hanoi, May 30 (VNA) - The State Bank of Vietnam (SBV) said on May 30 that it will continue to coordinate with relevant Vietnamese ministries and agencies regarding the US Department of Treasury’s issues of concern, in the spirit of cooperation.
Date: 30 May 2019; Type: Legal News; Source: Vietnam News Agency

BSP OKs New Guidelines for External Auditors

MANILA, May 29 (PNA) - The Monetary Board approved the revised guidelines governing the selection, appointment and delisting of external auditors of Bangko Sentral ng Pilipinas (BSP) Supervised Financial Institutions (BSFIs).
Date: 29 May 2019; Type: Legal News; Source: Philippine News Agency

Central Bank issues Warning against Crypto Currency Trading

Local investments in cryptocurrency have been rising, according to experts in the financial sector. But unlike overseas, where exchanges and crypto-news aggregators publish transaction data on a daily basis, the numbers are more difficult to track in Myanmar.
Date: 20 May 2019; Type: Legal News; Source: Myanmar Times

Don’t use Crypto Currencies, Central Bank warns

The Bank of the Lao PDR has warned commercial banks, businesses and members of the public not to buy, sell or use cryptocurrency for money transactions as this practice is illegal.
Date: 20 May 2019; Type: Legal News; Source: Vientiane Times

SC revises Guidelines for Property Crowdfunding

KUALA LUMPUR, May 17 (Bernama) - The Securities Commission Malaysia (SC) has revised its Guidelines on Recognised Markets to introduce new requirements to facilitate the new Property Crowdfunding (PCF), said Chairman Datuk Syed Zaid Albar. He also announced the registration of eight new Recognised Market Operators (RMO) comprising three equity ...
Date: 17 May 2019; Type: Legal News; Source: Bernama

BNM opens up Dynamic Hedging Scheme for Trust Banks, Global Custodians

KUALA LUMPUR, May 16 (Bernama) - Bank Negara Malaysia (BNM) is opening up the dynamic hedging programme for trust banks and global custodians on behalf of their clients effective immediately.
Date: 16 May 2019; Type: Legal News; Source: Bernama

Proactive Measures for smoother Financial Market, Dewan Negara told

KUALA LUMPUR, Apr 25 (Bernama) - The government has taken several proactive measures to ensure a smoother financial market, the Dewan Negara was told today. Deputy Communications and Multimedia Minister Eddin Syazlee Shith, who was representing the Finance Ministry during Question Time said the measures were to ensure adequate liquidity, resil ...
Date: 25 April 2019; Type: Legal News; Source: Bernama

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, eff ...
Date: 24 April 2019; Type: Legal News; Source: Philippine News Agency

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

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

Don’t use Crypto Currencies, Central Bank warns

The Bank of the Lao PDR has warned commercial banks, businesses and members of the public not to buy, sell or use cryptocurrency for money transactions as this practice is illegal.

Government approves Special Budget for Flood Recovery Central Bank Governor gets New Legal Backing NA debates Draft Law on Central Bank more

Bursa Malaysia seeks Feedback on Proposed Rule Amendments for CDS eServices

KUALA LUMPUR, May 31 (Bernama) - Bursa Malaysia Bhd has issued a consultation paper seeking public feedback on the proposed amendments to the Rules of Bursa Malaysia Depository Sendirian Bhd (Bursa Depository) to facilit ...

SC revises Guidelines for Property Crowdfunding BNM opens up Dynamic Hedging Scheme for Trust Banks, Global Custodians Proactive Measures for smoother Financial Market, Dewan Negara told more

BSP OKs New Guidelines for External Auditors

MANILA, May 29 (PNA) - The Monetary Board approved the revised guidelines governing the selection, appointment and delisting of external auditors of Bangko Sentral ng Pilipinas (BSP) Supervised Financial Institutions (BS ...

BSP releases First Tranche of National Payment Systems Act IRR Enactment of 2019 National Budget to spur Economic Growth BSP extends Transitory Period for Banks' Amended Reports 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

Ex-CJ speaks out against Lawyers' Tendency to seek Postponements

KUALA LUMPUR, Jun 16 (Bernama) - Former Chief Justice Tun Zaki Azmi has spoken out against the tendency by certain defence lawyers to seek postponements of cases being heard in court.

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INDUSTRY UPDATES

New Competition Commission already under Fire

Myanmar’s professed commitment to competition reform has come under fire after the government packed the new Competition Commission with bureaucrats serving under a minister.

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INDUSTRY UPDATES

NA Deputies give Opinions on Revised Labour Code

Hanoi, Jun 12 (VNA) - The revised Labour Code will the focus during the sitting of lawmakers on June 12 in the ongoing 7th session of the 14th National Assembly.

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INDUSTRY UPDATES

Ability to pay Taxes Online a Boon for Vietnam’s Import-Export Businesses

Hanoi, Jun 6 (VNS/VNA) - Around 99 percent of import and export tax payments in Ho Chi Minh City are made online, according to the customs department.

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INDUSTRY UPDATES

OWWA joins Urban Poor Caravan

MANILA, Jun 8 (PNA) - The Overseas Workers Welfare Administration (OWWA) will be joining the Presidential Commission for the Urban Poor (PCUP) caravan to inform the public of its programs on overseas employment.

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INDUSTRY UPDATES

Palace declares June 24 Holiday in Manila

MANILA, Jun 6 (PNA) - Malacañang has declared June 24 as a special, non-working holiday in the City of Manila in celebration of its 448th founding anniversary.

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INDUSTRY UPDATES

Legal Profession faces inherent Risks not Exclusive to NUPL

MANILA, Jun6 (PNA) - A state lawyer of the Office of the Solicitor General said Thursday the legal profession faces "inherent risks not exclusive to the National Union of People’s Lawyers (NUPL)".

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INDUSTRY UPDATES

DOJ forms Panel to probe Jacky Co Case

MANILA, Jun 6 (PNA) - A prosecution panel has been assigned for the preliminary investigation on the complaints filed against alleged Chinese drug lord Jacky Co and others implicated in the smuggling of PHP1.8 billion worth of illegal drugs into the country.

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INDUSTRY UPDATES

Myanmar still short of Judges, says Supreme Court

The number of judges in the country is just two thirds of the number required, according the 2018 annual report of the Union Supreme Court.

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INDUSTRY UPDATES

RCI on Judicial Misconduct is what People Want - Dr Mahathir

PUTRAJAYA, Jun 5 (Bernama) - The government agreed to set up a Royal Commission of Inquiry (RCI) on judicial misconduct because this is what the people want, said Prime Minister Tun Dr Mahathir Mohamad.

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INDUSTRY UPDATES

CJ stresses Importance of beefing up Legal Education

MANILA, Jun 3 (PNA) - Chief Justice Lucas P. Bersamin emphasized the commitment of his administration to leave no stone unturned in reforming the country's legal education system.

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INDUSTRY UPDATES

Double Pay for Workers on June 5

MANILA, Jun 3 (PNA) - Private sector workers, who will report to duty on Wednesday, June 5, will be paid twice their regular daily wages, the Department of Labor and Employment (DOLE) said Monday.

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INDUSTRY UPDATES

Complaints via Whatsapp: RTD issues More than 200 Notices

KUALA LUMPUR, June 3 (Bernama) - More than 200 notices have been issued by the Road Transport Department (RTD) as result of consumer complaints via the Whatsapp application during the three days enforcement operation, in conjunction with Adilfitri, which began on May 29.

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INDUSTRY UPDATES

Online Trader benefits from Industrial Revolution 4.0

KOTA BHARU, Jun 2 (Bernama) - The Industry Revolution 4.0, which is occurring all over the world, has given huge benefit to online traders in marketing their products to consumers.

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INDUSTRY UPDATES

Vietnam attends ASEAN Plus Three, EAS SOMs

Bangkok, May 30 (VNA) - Deputy Foreign Minister Nguyen Quoc Dung, who is head of the country’s SOM ASEAN, attended the ASEAN Plus Three SOM and East Asia Summit (EAS) SOM, which were held within the framework of the ASEAN Senior Officials' Meeting (SOM) in Bangkok on May 30.

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INDUSTRY UPDATES

JBC sets Public Interviews for SC Aspirants

MANILA, May 31 (PNA) - The Judicial and Bar Council (JBC) has released the schedule of the public panel interview of hopefuls vying for a Supreme Court (SC) post, to be vacated by Associate Justice Mariano del Castillo who will compulsorily retire on July 29.

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INDUSTRY UPDATES

Mohd Roze Shaari is New Intelligence/Operations Deputy Director

KUALA LUMPUR, June 1 (Bernama) - Bukit Aman's Criminal Investigation Department (CID) has a new Intelligence/Operations deputy director.

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INDUSTRY UPDATES

Give Mandatory Counselling, Community Service Sessions to Road Bullies - MCPF

KUALA LUMPUR, May 31 (Bernama) - The Malaysian Crime Prevention Foundation (MCPF) has suggested that compulsory counselling and community service sessions be meted out to individuals detained for dangerous driving and road rage.

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