Tagged: central bank

August 18, 2024 @ 7:47 pm By Michael Wong  |  

The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, along with the Department of Labor and Employment (DOLE) held the 2nd Financial Inclusion Forum for the Labor and Employers Sector on July 30 at the BSP’s Manila Head Office. The discussions centered… Read More

August 10, 2024 @ 12:54 pm By Michael Wong  |  

The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, has announced the lifting of its moratorium on the issuance of new digital banking licenses, effective January 1, 2025. The decision, approved by the Monetary Board, will allow up to ten digital banks… Read More

August 4, 2024 @ 3:56 pm By Michael Wong  |  

The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines has revised guidelines to bolster the settlement of digital payments, ensuring the integrity and efficiency of the country’s payment system. This move aims to adapt to evolving payment landscapes and enhance the operational… Read More

April 8, 2024 @ 9:44 pm By Omar Faridi  |  

Banco Central Do Brasil (BCB), the central bank of Brazil, recently announced that it launched a new report on Pix aliases. Registrato users now reportedly “have access to the complete history of their Pix aliases, even those previously disabled.” Starting Tuesday (April 2), Pix users… Read More

February 24, 2024 @ 2:26 pm By Omar Faridi  |  

The Qatar Central Bank will reportedly introduce the FAWRAN instant payment service. Qatar Central Bank (QCB) has called on the domestic banking institution to adjust their status as part of its plans to introduce the instant payment service (called Fawran) in March of 2024. The… Read More

November 25, 2023 @ 6:51 pm By Michael Wong  |  

Indonesia’s central bank, the Financial Services Authority (OJK), has partnered with the country’s fintech associations to issue what it describes as ethical guidelines on artificial intelligence (AI) use in the context of the fintech industry. The guidelines were formulated in collaboration with four leading fintech… Read More

October 22, 2023 @ 12:12 pm By Omar Faridi  |  

The Saudi Central Bank (SAMA) signed a cooperation agreement with the Monetary Authority of Singapore (MAS) in Riyadh, in the field of Fintech and innovation. The agreement was signed by Ayman Al-Sayari, Governor of SAMA, and Dr. Vivian Balakrishnan, the Minister for Foreign Affairs of… Read More

October 15, 2023 @ 11:21 am By Omar Faridi  |  

The Saudi Central Bank (SAMA) issued its semi-annual performance report of the finance companies sector and real estate refinance for H1 2023. According to the report, most of the indicators in the finance companies sector “grew at varying rates in H1 2023.” The paid-up share… Read More

October 4, 2023 @ 7:40 am By Omar Faridi  |  

BIS, De Nederlandsche Bank and the Deutsche Bundesbank are creating a data platform that has potential to shed light on the macroeconomic relevance of crypto-asset markets and decentralized finance (DeFi). Project Atlas combines on- and off-chain information, “creating a layered approach to data vetting and… Read More

September 30, 2023 @ 3:40 pm By Michael Wong  |  

The Bank for International Settlements (BIS) has successfully completed Project Mariana, a collaborative endeavor with the central banks of France, Singapore, and Switzerland, aiming to explore the potential of wholesale central bank digital currencies (wCBDCs) in cross-border trading and settlement between financial institutions. Developed jointly… Read More

September 30, 2023 @ 4:07 am By Michael Wong  |  

The Hong Kong Monetary Authority (HKMA) has revealed in its recent publication on 29 September that there has been a slight increment in total deposits with authorized institutions by 0.6% in August 2023. The deposits consisted of Hong Kong dollar deposits, which saw an increase… Read More

September 23, 2023 @ 6:10 pm By Michael Wong  |  

Recent preliminary data reveals that in July, outstanding loans of universal and commercial banks (U/KBs), excluding reverse repurchase (RRP) placements with the Bangko Sentral ng Pilipinas (BSP), witnessed a 7.7% year-on-year growth, a slight decrease from the 7.8% reported in June. When assessed on a… Read More

August 29, 2023 @ 7:22 am By Omar Faridi  |  

Bank Indonesia, Bank Negara Malaysia, and the Bank of Thailand have reportedly concluded three bilateral Memorandum of Understanding (MoUs) on 25 August 2023. These MoUs are the Framework for Cooperation to Promote Bilateral Transactions in Local Currencies between the countries. The scope of the framework… Read More

July 25, 2023 @ 10:17 pm By Omar Faridi  |  

Bangko Sentral ng Pilipinas (BSP) reports that personal remittances from Overseas Filipinos (OFs) reportedly “reached US$2.78 billion in May 2023, higher by 2.9 percent than the $2.70 billion registered in the same month last year.” The increase in personal remittances in May 2023 was “due… Read More

July 23, 2023 @ 11:38 pm By Omar Faridi  |  

dLocal has reportedly been licensed by Brazil’s central bank to serve as a payments institution in the South American country. This license, roughly equivalent to the European e-money issuer license, “allows dLocal to accept deposits from the public, manage e-wallets, and participate directly in Brazil’s… Read More

July 23, 2023 @ 2:34 pm By Omar Faridi  |  

The Banque de France recently shared key lessons from its wholesale CBDC experiments using distributed ledger technologies (DLTs). Following the publication of an initial report in 20211, the Banque de France is now “releasing a new set of conclusions and lessons learned, covering the first… Read More

July 10, 2023 @ 10:25 pm By Omar Faridi  |  

The Reserve Bank of India (RBI) is reportedly working on a new regulatory framework that should be more “developmental” and conducive for financial technology or Fintech firms. This, according to a deputy governor of the reserve bank (as first reported by Reuters this past Friday)…. Read More

July 9, 2023 @ 1:02 pm By Omar Faridi  |  

The Saudi Central Bank (SAMA) announces the issuance of the Implementing Regulations for the Law of Payments and Payment Services “to support the objective of enhancing soundness and efficiency of the payment systems infrastructure in Saudi Arabia.” The relevant regulatory and supervisory frameworks enable SAMA… Read More

July 8, 2023 @ 10:45 am By Omar Faridi  |  

The Bank for International Settlements (BIS) recently shared its seven-point plan developed to assist nations with preventing cybersecurity incidents/hacks as a response to the new wave of digital national currencies (or CBDCs) currently under development. Approximately 130 different countries are currently exploring the feasibility of… Read More

June 27, 2023 @ 8:10 am By Omar Faridi  |  

The Swiss National Bank (SNB) will reportedly be issuing a wholesale central bank digital currency (CBDC) on Switzerland’s SIX digital exchange as part of a pilot program, the central bank’s chairperson revealed at a recent conference that took place in Zurich on Monday (June 26,… Read More