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Market Infrastructure
BSP, OJK Sign MoU on Financial System Development
By Sanday Chongo Kabange | 07/09/2020
As part of the MoU, the BSP and OJK have reportedly lined up talks in the areas of supervisory frameworks, consumer protection, financial inclusion, fintech and capacity building.
ESG / Sustainability
NGFS Publishes Two-year Work Programme, New Charter
By Editors | 07/09/2020
A new NGFS workstream being created will identify missing data items needed for effective climate-related and environmental risk analysis.
Fintech / Regtech
BSP Targets September Issuance of Digital Banks Framework
By Editors | 06/09/2020
Separately, new legislation is under development to expedite the digital banking sector, targeted to pass by the end of 2020.
AML / KYC
BSP Confirms Ongoing Probe into State-run Bank Over Cyber Theft
By Sanday Chongo Kabange | 05/09/2020
Over $3mn was stolen from United Coconut Planters Bank through fraudulent ATM withdrawals and online transfers over a three-day holiday in June.
BSP Proposes to Impose Cap on Credit Card Finance Charges
By Editors | 31/08/2020
The BSP says it is looking to impose a maximum finance charge equivalent to an effective annual interest rate of 24 percent for credit card cash advances and installment purchases.
Capital / Liquidity
BSP Relaxes Real Estate Lending Limits for Banks
By Editors | 21/08/2020
The higher limit will encourage bank lending to households for the acquisition or construction of a residential real estate property the BSP said.
Fintech / Regtech
BSP Takes Consumer Complaints Chatbot Live
By Sanday Chongo Kabange | 20/08/2020
The trilingual automated chatbot can handle queries and complaints from consumers sent through chat via the BSP website, SMS, or Facebook messenger.
Capital / Liquidity
BSP Expects Sound Borrower Assessments, Forbearance Reporting
By Editors | 10/08/2020
Requirements to report forbearance granted to borrowers will ensure industry statistics reflect the “true health of the banking system” and incentivise prudence in banks’ credit decisions.
ESG / Sustainability
BSP Joins Network for Greening the Financial System
By Editors | 04/08/2020
The NGFS membership will strengthen BSP’s collaboration with central banks and supervisors on the effective management of climate risks in the financial sector.
Fintech / Regtech
BSP Pilot Tests New Chatbot for Consumer Complaints
By Editors | 31/07/2020
The chatbot can handle queries and complaints from consumers sent through chat via the BSP website, SMS, or Facebook messenger.
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