The Arab Monetary Fund (AMF) has published Digital Identity and e-KYC Guidelines in the Arab Region for public consultation.   Prepared by AMF’s Regional FINTECH Working Group, stakeholders are to provide comments on the draft guidelines by January 20, 2020.   Further details are available here.   Photo Credit: Pixabay

The Monetary Board of the Philippines has approved an enhanced policy that allows banks to grant Peso consumer loans to Overseas Filipino Workers (OFWs) without Bangko Sentral ng Pilipinas (BSP)’s approval.   The enhanced policy is aimed at facilitating access of OFWs to bank credit, in line with the BSP’s

The National Assembly of South Korea has approved a financial consumer protection bill for the country.   The objective of the bill is to enhance the rights of financial consumers and improve the overall public trust in the financial industry.   The bill is to become effective one year from

The Monetary Board has approved a revision to the definition of a deposit substitute.  The purpose is to align with the provisions of the Bangko Sentral ng Pilipinas (BSP) Charter.    Under the BSP Charter, a deposit substitute means a form of obtaining funds from the public, other than deposits,

Bank Negara Malaysia has issued a policy document on Fair Treatment of Financial Consumers.    The policy document aims to foster high standards of responsible and professional conduct in a financial service provider (FSP).   The document seeks to promote a culture where the interests of financial consumers are an