Banking and financial services

Banking and financial services policy and regulation

BoT eases up on forex regulations

The Bank of Thailand on June 5 loosened a set of foreign exchange regulations, including allowing Thais to invest directly in securities abroad at an amount of up to $1 million a year, in a fresh bid to accommodate capital outflows, curb the appreciating baht (which ...

Myanmar's AYA Bank lowers barrier to Visa card

Myanmar’s Ayeyarwady Bank, also known as AYA Bank, announced on Tuesday that it will start issuing Visa cards to a wider customer base. The bank will issue three types of credit cards — silver, gold and platinum. The most accessible card requires a monthly income ...

EDL amasses huge debt due to unpaid bills, investment outlay

Unpaid electricity fees, notably owed by state organisations, have accumulated into a large debt to be paid to Electricite Du Laos (EDL), a minister told the recent National Assembly session. Minister of Energy and Mines Dr Khammany Inthilath gave the information when responding to questions ...

ANZ distances itself from Cambodian partner

Australian financial institution ANZ has distanced itself from the Royal Group, its local partner in a Cambodian joint venture bank, following police reports linking the group to illegal logging activities. A report published by Cambodia’s National Police this week accused Royal Group, owned by prominent ...

RCEP opens markets for Cambodia

The Regional Comprehensive Economic Partnership has the potential to deliver significant business opportunities for Cambodia, given that the 16 RCEP participating countries contribute about 30 percent of global GDP and more than a quarter of world exports, said a Commerce Ministry official on May 18. “RCEP ...

SMEs in 8 provinces to get Pracha Rath loans

The Department of Industrial Promotion will extend loans initially totalling Bt20 billion from a Pracha Rath fund for SME development in eight provinces, starting with Songkhla on May 24. Eight provinces have been initially targeted for the programme. Besides Songkhla, they are Krabi, Chon Buri, ...

Private investment needed to drive growth: economists

Economists have cautioned that cutting spending could impact Laos’ economic growth, so the government needs to further create favourable conditions to strengthen the private sector. According to the government’s recent report, investment by domestic and foreign businesses represented more than half the entire investment driving ...

Correspondent banking in retreat, but growing in Asia

While financial inclusion is a top priority for emerging economies, new research suggests more stringent enforcement of anti-money regulations in recent years has resulted in major Western banks disconnecting from these regions, leaving local businesses without access to the international financial system. Correspondent banking relationships, ...

National reconciliation key in Myanmar’s development: ADB

While most of the Japanese people are enjoying five days of Golden Week holidays, areas around Pacifico Yokohama have been busy with people from around the world on business. More than 3000 people from across the globe have been busy attending seminars and meetings on ...

Thailand, Japan conclude Bilateral Swap Arrangement

The Bank of Thailand and the Bank of Japan have signed an agreement to govern the Bilateral Swap Arrangement (BSA), enabling both countries to exchange their currencies. The facility under the arrangement amounts to US$3 billion (102.4 billion baht), said Chantavarn Sucharitakul, assistant governor, corporate ...

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