Banking and financial services
Banking and financial services policy and regulation
Laos pushes into crypto as it authorises mining and trading
Laos has authorised the mining and trading of cryptocurrencies, in a policy shift by the debt-laden south-east Asian nation that positions it to profit from the crackdown on digital currency mining in China. Analysts said the move was a logical step for the landlocked, communist-ruled country ...
John Reed
Cambodia Gears Up for Launch of Central Bank Digital Currency
The National Bank of Cambodia (NBC) has announced it is preparing to launch a central bank digital currency (CBDC). NBC’s director-general, Chea Serey, said the central bank was developing “the national payment gateway for Cambodia.” It would serve as a blockchain-based, peer-to-peer platform with its own specially designed cryptocurrency. According ...
Daniel Abel
Thailand, Myanmar agree to use baht, kyat for cross-border payments
Veerathai Santiprabhob, governor of the Bank of Thailand, and his Myanmar counterpart U Kyaw Kyaw Maung, signed two memoranda of understanding (MoU) on October 18 during the IMF-World Bank meeting in the US. The signing was witnessed by Myanmar’s Minister for Planning and Finance U Soe ...
The Nation Reporter
Thailand lags in fintech development in Asia
Thailand ranks seventh out of 10 Asian countries in a Taiwanese consulting firm’s FinTech Competitiveness Index. The country, however, outperforms Malaysia and only lags behind Singapore in terms of regulatory advancement. Keep reading ...
SUCHIT LEESA-NGUANSUK
Southeast Asia banks urged to amend environment policy
Banks and regulators in Southeast Asia should strengthen financial-sector rules and guidelines to promote funding for environment-friendly projects in a region threatened by deforestation and climate change, the World Wildlife Fund said. Keep reading ...
Chanyaporn Chanjaroen
SE Asia stocks edgy as Russia sanctions unnerve investors
Most Southeast Asian stock markets were largely tepid on Thursday, as concerns over US President Donald Trump signing the Russia sanctions bill kept investors on edge.Keep reading ...
Forty Chinese banks found in violation of interbank rules
China’s central bank has found 40 banks in violation of interbank account regulations and have ordered them to rectify the problem within three to six months, financial magazine Caixin reported on Tuesday, citing a document. Read more ...
Not all paths to growth the same
Cambodia’s economy stands at a critical crossroads to reach the next phase of development with a recent report urging the Kingdom to ditch its antiquated growth model and adopt more innovative economic strategies that better respond to rapid changes in the global economy. The report, ...
Baht upheaval carries across industries
Agriculture, electronics, and food and drink have been hit hardest by the baht’s 6% year-to-date appreciation, according to Asia Plus Securities (ASP). Porranee Thongyen, ASP’s head of research, said the stronger than expected baht hurt exporters like Sri Trang Agro Industry Plc, which earns most ...
VIAC encourages alternative dispute resolutions
The Vietnam International Arbitration Centre organised a workshop on June 6 with the International Finance Corporation to promote the use of alternative dispute resolution methods in the banking and finance sector. The conference, named ‘Benefits and Challenges of Using ADR for Banking Disputes’, focused on the principles, ...