South African Reserve Bank removes Grindrod Bank from manuals used by Authorised Dealers
The South African Reserve Bank has removed Grindrod Bank from the manuals used by Authorised Dealers and Authorised Dealers with limited authority.
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Bank of Portugal updates September 2025 public debt statistics showing EUR 6.0 billion monthly increase and a rise to 97.6% of GDP in Q3
The Bank of Portugal reported that Maastricht public debt increased by EUR 6.0 billion in September 2025, reaching EUR 294.3 billion, or 97.6% of GDP for Q3. The rise was driven by higher long-term debt securities and savings certificates, partially offset by a decrease in Treasury certificates. General government deposit assets increased by EUR 10.0 billion, resulting in a net public debt decrease of EUR 4.0 billion to EUR 255.2 billion.
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Central Bank of the Philippines bank lending survey shows most banks expect unchanged Q4 2025 lending standards with a modest tightening bias
The Central Bank of the Philippines' Q3 2025 Senior Bank Loan Officers’ Survey reveals that most banks anticipate unchanged lending standards for business and household loans in Q4 2025, with a net tightening of 7.0% and 7.5% respectively. Loan demand is expected to remain steady, with more banks predicting increased demand compared to the previous quarter.
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Central Bank of the Philippines recaps participation in the 2025 IMF World Bank Group Annual Meetings and acceptance of Global Finance best central banker award
The Central Bank of the Philippines summarized its delegation's participation in the 2025 IMF and World Bank Group Annual Meetings in Washington, DC, highlighting dialogues with international counterparts, rating agencies, and investors. Led by Monetary Board Members Romeo L. Bernardo and Walter C. Wassmer, the delegation engaged in strategic discussions and investor briefings, sharing updates on the Philippines' ASEAN Chair preparations for 2026. Wassmer also accepted the "Best Central Banker Award" from Global Finance on behalf of Governor Eli M. Remolona, Jr.
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National Bank of Serbia reports 2.0% year-on-year GDP growth in Q3 2025 alongside higher industrial output and goods trade
The National Bank of Serbia reported a 2.0% year-on-year growth in real GDP for Q3 2025, alongside increased industrial production and expanding goods exports and imports. Industrial production rose by 2.5% year-on-year in September, with notable growth in manufacturing, mining, and the energy sector. Retail trade turnover and tourism showed mixed results, while goods exports and imports increased significantly in September and year-to-date.
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National Bank of Slovakia appoints ECB economist Joan Paredes as Director of Economic and Monetary Analyses
The National Bank of Slovakia has appointed Joan Paredes as Director of the Department of Economic and Monetary Analyses, expanding its analytical division's leadership. Paredes, with over 20 years of experience at the European Central Bank, was selected through an extensive international process to enhance the bank's global professional connections.
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European Central Bank working paper finds banks assign long behavioural maturities to most non-maturing deposits and did not recalibrate during 2022 tightening
The European Central Bank's working paper reveals that euro area banks often model non-maturing deposits (NMDs) with longer maturities than contractual terms, with only 20% treated as zero maturity. Despite recent monetary policy tightening, banks did not adjust conservative maturity assumptions, with the average assumed NMD maturity increasing slightly from 2.00 to 2.15 years. The study also notes that banks with more volatile and interest rate-sensitive deposits assume shorter maturities but did not update models post-tightening.
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European Central Bank publishes €STR transparency report showing one error above 0.1 basis points in Q3 2025
The European Central Bank released its Q3 2025 €STR "transparency on errors" summary, identifying one error exceeding 0.1 basis points. The error, dated 11 August 2025, resulted from a late submission and impacted the euro short-term rate by 0.001 to 0.005 percentage points.
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Guernsey Financial Services Commission issues notice on amended UK Iran sanctions entry for Ali Aliakbar Ansari
The Guernsey Financial Services Commission (GFSC) issued an Iran sanctions notice, updating Ali Aliakbar Ansari's designation details, who remains under a UK asset freeze. Businesses must freeze relevant assets, report to the States of Guernsey Policy & Resources Committee, and comply with the Sanctions (Bailiwick of Guernsey) Law, 2018. Firms must also notify the GFSC and provide detailed reports under Handbook Rule 12.37 when identifying affected relationships.
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Albania Financial Services Authority publishes issue 197 of its October 2025 periodical
The Albania Financial Services Authority released issue 197 of its periodical for October 2025, detailing its regulatory, supervisory, and institutional activities. The publication aims to assist consumers and investors in understanding the markets under its jurisdiction.
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Central Bank of Paraguay highlights November 12 deadline for shortlist competition for Superintendent of Retirement and Pensions
The Central Bank of Paraguay published a notice that applications are open until November 12 for the competition to form the shortlist for Superintendent of Retirement and Pensions. The process is being run by the Social Security Council under Law No. 7235/2023 and sets nationality, integrity, expertise and exclusivity requirements. The post will direct and prudentially supervise Paraguay's National Retirement and Pension System.
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Philippine Securities and Exchange Commission proposes PHP 3 million threshold to exempt more micro firms from audited financial statements
The Philippine SEC proposes allowing corporations with assets or liabilities under PHP 3 million to file financial statements certified by their treasurer or CFO, instead of audited ones. This aims to reduce compliance costs and focus oversight on higher-risk entities, pending Department of Finance approval. The current threshold for audited statements is PHP 600,000, per the Revised Corporation Code and Securities Regulation Code.
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International Organization of Securities Commissions issues four publications on pre-hedging, ESG benchmark indices, secondary market disclosure and valuation information quality
IOSCO released reports on pre-hedging, ESG indices, and secondary market disclosure, offering definitions, recommendations, and analyses for regulatory consistency. Feedback is sought on disclosure recommendations, with plans for reports on tokenization, neo-brokers, and investment scheme valuation.
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National Bank of the Kyrgyz Republic approves Mbank deputy chief accountant and FINCA Bank chief accountant appointments
The National Bank of the Kyrgyz Republic approved Omurzakova Asel Avazbekovna as deputy chief accountant of OJSC Mbank and Sherkulova Asel Tolomushovna as chief accountant of CJSC FINCA Bank on 30 October 2025.
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National Bank of the Kyrgyz Republic runs World Savings Day 2025 financial literacy lectures in Talas Region
The National Bank of the Kyrgyz Republic's Talas regional office conducted guest lectures for senior students at four secondary schools in Talas Region during World Savings Day 2025. Topics included the history of the Kyrgyz som, financial planning, financial literacy, QR-code payments, and telephone fraud prevention.
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International Swaps and Derivatives Association extends Saudi Arabia netting opinions to cover Capital Market Authority close-out netting rules
The International Swaps and Derivatives Association (ISDA) has extended its Saudi Arabia netting legal opinions to include Capital Market Authority (CMA) regulations, ensuring enforceability of close-out netting for CMA-supervised entities. ISDA plans to publish collateral opinions under both CMA and Saudi Central Bank (SAMA) regulations by year-end.
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Alberta Securities Commission and RCMP IMET criminally charge Alexander Francis Ongoma over alleged forex investment fraud
The Alberta Securities Commission and the RCMP's Integrated Market Enforcement Team charged Alexander Francis Ongoma with six Criminal Code offences, including fraud over CAD 5,000 and uttering forged documents. Ongoma allegedly misrepresented his financial success to obtain investor funds for foreign exchange trading and property development, which were not returned. He was released with conditions prohibiting investment solicitation and advisory roles, with assistance acknowledged from the Calgary Police Service and the Financial Transactions and Reports Analysis Centre of Canada.
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Financial Transactions and Reports Analysis Centre of Canada issues compliance guidance for voluntary private-to-private information sharing via approved codes of practice
FINTRAC issued guidance on voluntary information sharing among reporting entities under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. Sharing is allowed without individual consent if under an approved code of practice, submitted to FINTRAC and the OPC for approval. The guidance outlines conditions for disclosure and use, and mandates periodic re-approval of codes.
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Financial Transactions and Reports Analysis Centre of Canada and Global Risk Institute publish interim report on AI risks and practices in financial crime
The Financial Transactions and Reports Analysis Centre of Canada and the Global Risk Institute released an interim report from the second Financial Industry Forum on Artificial Intelligence workshop, highlighting AI's role in financial crime. Discussions included AI-enabled fraud, data manipulation, cybercrime, and challenges like limited AI investment and regulatory gaps. Opportunities to enhance resilience, data integrity, and information sharing were also identified.
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Saudi Arabia's Insurance Authority to host global conference on regulation, investment and the future of risk
Saudi Arabia's Insurance Authority will host the Global Insurance Conference and Exhibition from Nov. 10-12 in Riyadh. More than 100 speakers and 150 organizations will discuss insurance regulation, investment, technology, risk, inclusion and environmental, social and governance issues.
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Thailand Securities and Exchange Commission joins IOSCO Board discussions on SupTech and digital asset standards and holds bilateral talks with Hong Kong’s Securities and Futures Commission
The Thailand Securities and Exchange Commission attended IOSCO's 3rd Board Meeting for 2025 in Madrid, discussing international capital market regulation, digital asset standards, and SupTech. Key topics included retail investor protection, emerging risks, and regional regulatory approaches. The SEC Secretary-General also held bilateral talks with the Hong Kong Securities and Futures Commission on investor protection and regulatory cooperation.
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Thailand Securities and Exchange Commission urges AQUA275A bondholders to assess proposed restructuring ahead of 6 November vote
The Thailand Securities and Exchange Commission advises Aqua Corporation's AQUA275A bondholders to review information and join the electronic meeting on 6 November 2025 to vote on waivers and bond term changes. The SEC instructed the bondholders’ representative to assess implications of approving or rejecting proposals, including default event exemptions, restructuring repayment terms, and extending the redemption date to 30 November 2027. The agenda depends on the AQUA25NA bondholders' meeting outcome on 30 October 2025.
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Financial Planning Standards Board appoints Omer Ahmed as chief operating officer
The Financial Planning Standards Board Ltd. appointed Omer Ahmed as chief operating officer, effective 3 November 2025, succeeding Eric Cauble. Ahmed will focus on executing strategic goals, maintaining financial health, and enhancing global infrastructure for operational efficiency.
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State Bank of Pakistan publishes FY25 payment systems review showing retail payments at 9.1 billion transactions and 88% digital share
The State Bank of Pakistan's Annual Payment Systems Review for fiscal year 2024-25 highlights significant growth in the payment ecosystem, with retail payments reaching 9.1 billion transactions worth PKR 612 trillion, a 38% increase in volume and 12% in value. Digital channels accounted for 88% of retail transactions, with mobile banking apps processing over 6.2 billion transactions, up 52%, and e-money wallet apps showing the fastest growth. Infrastructure developments include the expansion of the Raast system and the point-of-sale network, a 7% increase in ATMs, and an upgraded RTGS system, PRISM+.
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Central Bank of Chile reports September Imacec growth of 3.2% year on year led by trade and services
The Central Bank of Chile reported a 3.2% year-on-year increase in the Monthly Economic Activity Index (Imacec) for September, with a 0.5% rise from the previous month. The growth was driven by services and trade, despite a decline in mining production. Non-mining Imacec rose 3.8% year-on-year, while trade and services showed significant gains, supported by wholesale, automotive, and retail sectors.
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Canadian Public Accountability Board appoints Sonny Randhawa as chief executive officer effective 2 March 2026
The Canadian Public Accountability Board (CPAB) appointed Sonny Randhawa as its new Chief Executive Officer, effective 2 March 2026, succeeding Carol Paradine. Randhawa, currently Executive Vice President at the Ontario Securities Commission, brings over 25 years of experience in regulatory oversight and audit quality. An executive search firm facilitated the selection process.
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National Commission for Financial Markets sets out new complaints process under Law 189/2025 with a 15 working day provider response deadline
The National Commission for Financial Markets issued guidance on a new complaint resolution procedure under Law No. 189/2025, requiring consumers to first address complaints to their financial services providers before escalating to the Commission or courts. Providers must respond within 15 working days, with non-response considered a refusal. The Commission will review petitions, redirect improperly filed ones, and may seek court action against abusive contract terms.
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Moldova's National Commission for Financial Markets reports shareholders agreement signed to establish the International Stock Exchange of Moldova
Moldova's National Commission for Financial Markets announced a milestone in the operationalisation of the International Stock Exchange of Moldova, with APP and market participants signing a shareholders’ agreement on 31 October. Signatories include Bucharest Stock Exchange, Moldagroinbank, and OTP Bank Moldova. The project aims to establish a modern, internationally connected capital market in Moldova.
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Canadian Bankers Association updates Your Money Students programme with expanded scam prevention training for high school students
The Canadian Bankers Association has updated its Your Money Students programme to enhance fraud prevention education for Grade 10 to 12 students, aligning with Financial Literacy Month. The expanded content addresses scams such as employment fraud, phishing, and AI-generated scams, developed with the Financial Consumer Agency of Canada. The programme, delivered by volunteer bankers, also covers budgeting, saving, investing, and credit use.
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Office of the Comptroller of the Currency releases Community Reinvestment Act performance evaluations for 16 institutions
The Office of the Comptroller of the Currency released Community Reinvestment Act (CRA) performance evaluations for 16 national banks and federal savings associations for October 2025. Six institutions received an "outstanding" rating, while ten were rated "satisfactory." CRA evaluations measure how well institutions meet community credit needs, including those of low- and moderate-income neighborhoods.
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Alberta Securities Commission and RCMP IMET announce six Criminal Code charges against Alexander Ongoma over alleged investor fraud
The Alberta Securities Commission and RCMP's Integrated Market Enforcement Team charged Calgary resident Alexander Francis Ongoma with six Criminal Code offences, including fraud over CAD 5,000 and uttering forged documents. Ongoma allegedly misrepresented his financial success to solicit investments in foreign exchange and property development, with funds not returned to investors. He is prohibited from soliciting investments and acting in certain financial roles, with a court appearance set for 14 November 2025.
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Central Bank of Egypt launches third edition of the FinTech Got Talent 2025 university competition
The Central Bank of Egypt, through FinTech Egypt’s FinYology initiative, hosted the third edition of the FinTech Got Talent 2025 competition to foster innovative FinTech projects from university students. The programme concluded with three winning teams, with two finalists securing top positions in the Arab FinTech Challenge. Launched in 2023, FinYology now spans over 30 Egyptian universities, supporting 900 projects and involving approximately 19,000 students.
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Alberta Securities Commission and RCMP IMET announce Criminal Code charges against Calgary forex trader over alleged investor fraud and forged documents
The Alberta Securities Commission and the RCMP's Integrated Market Enforcement Team have charged Alexander Francis Ongoma with six Criminal Code offences, including fraud and forgery, after a Joint Serious Offences Team investigation. Ongoma allegedly misrepresented his financial success to solicit investments, which were not returned, and faces conditions prohibiting investment solicitation and securities advice. His court appearance is set for November 14, 2025, in Calgary.
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UAE Ministry of Economy and Tourism runs three workshops to raise AML CFT compliance across the DNFBP sector
The UAE Ministry of Economy and Tourism, with the Dubai Chamber of Commerce, organized workshops to enhance anti-money laundering and counter-terrorism financing compliance among Designated Non-Financial Businesses and Professions. The sessions focused on international best practices, transparency, and supervisory expectations, covering sanctions screening, customer due diligence, and sector-specific compliance in real estate, precious metals, and auditing.
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National Bank of Romania reports October 2025 international reserves at EUR 76.9 billion with FX reserves at EUR 65.3 billion
The National Bank of Romania reported October 2025 international reserves: foreign exchange reserves at EUR 65.347 billion and total reserves, including gold, at EUR 76.885 billion. Foreign exchange reserves rose from September due to EUR 5.516 billion inflows, including EUR 3.0 billion from Ministry of Finance eurobond issuance, and EUR 5.184 billion outflows, including EUR 2.110 billion in eurobond maturities. Gold holdings remained unchanged at 103.6 tonnes, valued at EUR 11.538 billion.
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Canadian Bankers Association updates Your Money Students program with expanded scam prevention training for Gen Z
The Canadian Bankers Association has updated its Your Money Students program to enhance fraud prevention education for high school students, aligning with Financial Literacy Month. The program, developed with the Financial Consumer Agency of Canada, addresses new scam tactics and is delivered in English and French by volunteer bankers.
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Central Bank of Nepal and Reserve Bank of India complete ninth Joint Technical Coordination Committee meeting with focus on cross-border digital payments
The Central Bank of Nepal and the Reserve Bank of India held the ninth Joint Technical Coordination Committee meeting in Kathmandu, focusing on cross-border digital payment facilitation and adopting Indian policy practices in monetary policy, liquidity, and foreign exchange management. The meeting also reviewed the implementation of previous agreements and included presentations on the Indian economy and payment system developments.
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Swiss Financial Market Supervisory Authority issues guidelines on using the Berne Financial Services Agreement for simplified Swiss UK market access
The Swiss Financial Market Supervisory Authority (FINMA) has issued guidelines on the Berne Financial Services Agreement (BFSA) between Switzerland and the UK, simplifying mutual market access for investment services and insurance providers. The guidelines detail technical and practical processes for Swiss and British institutions, supplemented by guidance from the UK's Financial Conduct Authority and Prudential Regulation Authority. The BFSA, signed on 21 December 2023, is anticipated to take effect on 1 January 2026.
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Bank of Jamaica suspends RTGS fees and coordinates with banks to restore cash access after Hurricane Melissa
The Bank of Jamaica and the Jamaica Bankers Association are restoring banking services and cash access in areas hit by Hurricane Melissa, despite physical damage and service outages. Some operations have resumed, but branch and ATM networks face significant constraints. The BOJ has suspended fees for Real Time Gross Settlement System services and is considering further relief measures for affected customers.
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State Bank of Vietnam Region 11 branch reviews people’s credit funds and signs coordination rules with Cooperative Bank and deposit insurer
The State Bank of Vietnam's Region 11 branch reviewed people's credit funds in Đắk Lắk and Gia Lai, noting an 8.37% increase in operating capital and a 9.88% rise in mobilised funds as of September 2025. Despite most funds operating safely, issues like governance, management capacity, and slow technology adoption were identified. The branch set supervisory priorities for 2026 and signed coordination rules with the Cooperative Bank of Vietnam and Deposit Insurance of Vietnam units.
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State Bank of Vietnam approves banking sector digital transformation strategy to 2030 with cashless payments target of 30 times GDP
The State Bank of Vietnam has approved a digital transformation strategy for the banking sector through 2030, focusing on households and businesses. Key priorities include modernising the legal framework, enhancing digital banking models, and expanding technologies like AI and blockchain. The strategy aims for 95% of those aged 15 and above to have a transaction account and for non-cash payment value to reach 30 times GDP by 2030.
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Argentina Superintendency of Insurance updates motor vehicle civil liability insurance limits and deductibles effective 1 January 2026
Argentina’s Superintendency of Insurance has updated sums insured, coverage limits, and mandatory deductibles for motor vehicle third-party liability insurance, effective 1 January 2026. Key changes include ARS 910,000 per person for medical expenses, ARS 533,000 for funeral expenses, and varying civil liability limits for different vehicle categories, with the highest at ARS 676,000,000 for public passenger transport. These adjustments are based on the Argentine Federation of Professional Councils of Economic Sciences rate to maintain the real value.
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Bank of Korea and the People’s Bank of China renew KRW-CNY bilateral currency swap for five years to October 2030
The Bank of Korea and the People’s Bank of China have renewed their bilateral Korean won–Chinese yuan currency swap arrangement for five years, effective from 1 November 2025 to 31 October 2030. Any extension will require mutual agreement between the two central banks.
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Namibia Financial Institutions Supervisory Authority submits final draft Consumer Credit Bill to the Minister of Finance
NAMFISA has submitted the final draft Consumer Credit Bill to the Minister of Finance after public consultation. The Bill aims to reform consumer credit regulation in Namibia, requiring registration and conduct standards for credit providers, credit bureaus, and debt collectors. NAMFISA and the Bank of Namibia are designated as Consumer Credit Regulators with supervisory and enforcement powers.
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National Bank of Denmark reports Q3 2025 payment card turnover down DKK 4 billion as foreign card spending hits a quarterly peak
The National Bank of Denmark reported a 2.2% decrease in total payment card turnover, down DKK 4 billion from Q2 to Q3 2025, influenced by seasonal holiday spending. Danish card turnover fell by DKK 7.2 billion, while foreign card turnover rose by DKK 3.3 billion, with Germany contributing 23% of the foreign total. Foreign cards accounted for 11% of total turnover, with five countries generating over half of the foreign-card turnover.
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Cayman Islands Monetary Authority introduces updated REEFS mutual and private fund de-registration forms and stops accepting email submissions from 8 November 2025
The Cayman Islands Monetary Authority has updated the REEFS portal forms for mutual and private fund de-registrations, effective 8 November 2025. The TMF-147-22 v2 and TRS-142-99 v2 forms replace their predecessors, expanding coverage to include private fund sub-funds and alternative investment vehicles. A transition period from 8 to 20 November 2025 allows in-progress applications to be resubmitted with original forms; new submissions must use the updated forms.
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National Bank of Moldova Governor outlines EU-aligned reform milestones at Bucharest Leaders' Summit
National Bank of Moldova Governor Anca Dragu discussed Moldova's EU integration and economic transformation at the Bucharest Leaders' Summit. Initiatives include adopting a regulatory framework for crypto-assets by June 2027, launching the MIA Instant Payments system in 2024, and joining the Single Euro Payments Area in October 2025. Dragu also announced Moldova’s first National Financial Inclusion Strategy, set for implementation by mid-2026.
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Palestine Monetary Authority Governor outlines AI priorities for Islamic finance and highlights USD 430 million Istidama MSME fund at AAOIFI-IsDB conference
Governor Yahya Shunnar of the Palestine Monetary Authority addressed the 20th Annual Islamic Banking and Finance Conference, emphasizing AI as both an opportunity and challenge for Islamic finance. He highlighted Islamic banks' role in supporting Palestine's economy and SMEs, and called for innovative technological solutions to enhance efficiency and transparency. Shunnar advocated for Shariah supervisory boards to collaborate with technology experts and diversify Islamic finance instruments, citing the USD 430 million "Istidama" Fund to encourage sectoral financing.
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Dubai International Financial Centre announces Bentley Reid’s DIFC office opening after Dubai Financial Services Authority grants Category 4 licence
Dubai International Financial Centre announced that Bentley Reid has opened a Dubai office through Bentley Reid (DIFC) Limited, receiving a Category 4 regulatory licence from the Dubai Financial Services Authority. This licence permits the firm to arrange and advise on wealth management services from DIFC. CEO Peter Clark has relocated from the UK to lead the new operation, which is part of DIFC's expanding wealth management ecosystem.
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Central Bank of the Bahamas survey shows improved lending conditions in the first half of 2025 with applications up 11.5% and mortgages down 13.4%
The Central Bank of the Bahamas' June 2025 Bank Lending Conditions Survey shows improved lending conditions in the first half of 2025, driven by stronger private-sector credit demand. Total loan applications increased by 11.5% to 19,081, with an approval rate of 82.0%. Consumer lending dominated, while mortgage and commercial financing applications declined, with banks reporting reduced lending rates and stable near-term credit conditions.
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Central Bank of the UAE hosts cybersecurity seminar and second cyber drill for BRICS central banks
The Central Bank of the UAE hosted a Cybersecurity Seminar and the 2nd Cybersecurity Drill for BRICS central banks in Dubai, in collaboration with Brazil's 2025 BRICS Presidency. The event featured discussions and practical exercises on future threats from advanced technologies, with simulated cyberattacks to test response capabilities and enhance global financial infrastructure resilience.
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Bank of Cape Verde launches public education video on safe handling and security features of Cape Verdean escudo banknotes
The Bank of Cape Verde has launched an educational video campaign to promote safe handling of Cape Verdean escudo banknotes. The initiative advises against folding, tearing, or writing on notes and provides guidance on recognizing security features.
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Kuwait Capital Markets Authority licenses Wazen International Investment Advisors to conduct investment advisory activity for a renewable three-year term
The Kuwait Capital Markets Authority has licensed Wazen International Investment Consulting Company S.A.S.C. and Wazen International Investment Advisors S.S.A.W. to operate as investment advisors. The licenses, effective from 30 October 2025, are valid for three years, subject to renewal. This follows Resolution No. (86) of 2025 under Law No. (7) of 2010, contingent on meeting the Authority's requirements.
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Kuwait Capital Markets Authority registers National Investments Company as a FinTech provider for securities-based crowdfunding platforms
The Kuwait Capital Markets Authority has registered National Investments Company as a FinTech service provider, authorizing it to offer a securities-based crowdfunding platform. This registration, under the framework of Letter Nineteen of the Executive Bylaws of Law No. 7 of 2010, brings the total number of such providers to two. The CMA is also reviewing further applications for securities-based crowdfunding services.
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Saudi Arabia Capital Markets Authority approves Mohammed Hadi Al Rasheed and Partners capital increase to SAR 180 million via 1 for 2 bonus share issue
The Saudi Arabia Capital Markets Authority approved Mohammed Hadi Al Rasheed and Partners Company's capital increase from SAR 120 million to SAR 180 million via bonus shares funded from retained earnings. This involves issuing one bonus share for every two existing shares, raising total shares from 12,000,000 to 18,000,000. An extraordinary general assembly must convene within six months, and the company must comply with all regulatory requirements.
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Saudi Arabia Capital Markets Authority approves registration of two investor class actions against Sanam Business Holding and Sport Address Business Services Holding
The Saudi Arabia Capital Markets Authority announced that the Committee for the Resolution of Securities Disputes (CRSD) approved investor class actions against Sanam Business Holding Company and Sport Address Business Services Holding Company. These actions relate to alleged non-compliance with the Rules on the Offer of Securities and Continuing Obligations in their share offers and marketing campaigns. Claimants seek annulment of subscription agreements and repayment of capital paid.
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Saudi Arabia Capital Markets Authority approves Academy of Learning Company bonus-share capital increase to SAR 135 million
The Saudi Arabia Capital Markets Authority approved Academy of Learning Company's request to increase its capital from SAR 90 million to SAR 135 million through a bonus share issue. This involves issuing one bonus share for every two existing shares, funded by transferring SAR 45 million from retained earnings. The company must hold an extraordinary general assembly within six months and comply with all regulatory requirements.
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Indonesia's Financial Services Authority sets direction for digital finance transformation focused on inclusion and consumer protection at FEKDI x IFSE 2025 closing
Indonesia's Financial Services Authority (OJK) emphasized digital financial transformation for expanding societal access, focusing on responsible, ethical, and sustainable innovation. OJK aims to balance innovation support with risk mitigation and consumer protection, aligning with the government's Asta Cita agenda. The Festival Ekonomi Keuangan Digital Indonesia and Indonesia Fintech Summit & Expo 2025 featured initiatives like the BI–OJK Hackathon and QRIS Jelajah, promoting collaboration between OJK, Bank Indonesia, and industry.
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Central Bank of Curaçao and Sint Maarten launches second manufacturing sector survey in Curaçao
The Central Bank of Curaçao and Sint Maarten will conduct a second survey of manufacturing firms in Curaçao to gather data on production, employment, exports, and investment. This initiative aims to enhance sectoral data for economic analysis and forecasting, complementing other industry-specific surveys. Results will contribute to the CBCS Economic Bulletin and inform monetary and fiscal policy.
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Central Bank of Bahrain Equal Opportunities Committee reviews gender-equality initiatives and discusses 2025–2026 action plan
The Central Bank of Bahrain's Equal Opportunities Committee, chaired by Sh. Shaikha Khalifa Al Khalifa, held its second meeting for 2025 to review gender equality initiatives and discuss the 2025–2026 Action Plan. The plan aims to align with the National Plan for the Advancement of Bahraini Women, focusing on empowerment and leadership.
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National Bank of Hungary governor points to forint stabilisation and strong household savings as pillars of financial stability
National Bank of Hungary Governor Mihály Varga emphasized household savings and a robust stock exchange for financial stability during OTP Bank's 30th anniversary. He highlighted Hungary's financial stability amid global challenges, noting the forint's stabilization and its positive impact on inflation. Varga also pointed out the growth in Hungarian households' net financial assets and the strong performance of the BUX index.
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Egypt Financial Regulatory Authority-backed overhaul introduces 46 new Egyptian auditing and assurance standards effective 1 January 2027
The Egypt Financial Regulatory Authority announced new auditing standards effective 1 January 2027, replacing the 2008 standards. The updated framework aligns with international developments, enhancing financial statement reliability and includes 46 standards focusing on quality control, audit evidence documentation, and expanded auditor reporting. It promotes technology use in audits and differentiates application between public interest and smaller entities.
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Qatar Financial Markets Authority hosts NYU Abu Dhabi student delegation for briefing on regulation and FinTech applications
The Qatar Financial Markets Authority hosted a student delegation from New York University Abu Dhabi, offering insights into its regulatory framework and the integration of financial and digital technology in markets. The visit featured departmental tours, briefings on current regulations, and presentations on licensing, investment funds, FinTech, and investor protection, complemented by lectures and workshops.
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Central Bank of Peru reports non-traditional exports rose 12.8% year on year to USD 2.135bn in September 2025
The Central Bank of Peru reported a 12.8% year-on-year increase in non-traditional exports for September 2025, reaching USD 2.135 billion, driven by a 22.7% rise in export volumes. From January to September, exports totaled USD 16.394 billion, up 17.1% from the previous year, with significant contributions from fishery and agricultural products. Peru's non-traditional export growth of 17.4% over the past 12 months outpaced Colombia, Mexico, and Chile.
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Central Bank of Peru reports September 2025 formal employment up 4.6% and real wage bill up 9.1%
The Central Bank of Peru reported a 4.6% year-on-year increase in national formal employment for September 2025, marking 18 months of continuous growth and 276,000 new formal jobs. The formal wage bill rose 9.1% in real terms compared to September 2024. Private-sector employment grew 5.9%, with agriculture, services, and commerce leading job creation, while the real private-sector wage bill increased by 10.2%.
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Australian Securities & Investments Commission to work with Cboe on an orderly sale process for Cboe Australia
The Australian Securities & Investments Commission (ASIC) is collaborating with Cboe Global Markets on the sale of its Australian and Canadian markets businesses, ensuring an orderly transition of Cboe Australia to a suitable buyer. This divestment aligns with Cboe's strategic focus on its core derivatives business. ASIC has approved Cboe Australia's listing application and acknowledges its role in market competition, handling around 20% of Australia's equity market turnover.
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International Organisation of Pension Supervisors updates supervisory assessment guidelines for pension funds with a stronger risk-based and technology-enabled approach
The International Organisation of Pension Supervisors updated its 2008 Guidelines for Supervisory Assessment of Pension Funds, emphasizing prudential supervision, proportionate information gathering, and cross-border sharing. The focus is on legal compliance, asset valuation, and risk management. Future guidance may address conduct-of-business practices for contract-type defined contribution pension funds.
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International Association of Insurance Supervisors confirms new committee structure for 2026 and consults on ICS reporting and recovery and resolution guidance
The International Association of Insurance Supervisors (IAIS) announced governance changes, including electing Toshiyuki Miyoshi as Executive Committee Chair and restructuring key committees effective January 2026. Two public consultations were launched on the Common Framework for the Supervision of Internationally Active Insurance Groups and revised Application Papers on recovery planning and resolution powers. Updates to the Holistic Framework toolkit were published, and the Financial Stability Board will continue using it for systemic risk assessment in insurance.
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Bank for International Settlements finds greener energy mixes and stricter climate policies are associated with higher capital inflows to emerging markets
The Bank for International Settlements released a paper analyzing how environmental factors affect capital inflows to emerging market economies (EMEs). The study finds that lower exposure to extreme weather, a higher renewables share, and stronger climate policies correlate with increased foreign direct investment (FDI) and portfolio inflows. Additionally, stricter environmental regulations in advanced economies are linked to higher FDI and bank inflows to EMEs with weaker regulations.
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Bank for International Settlements research finds security and incentives drive intended digital euro adoption in Austria with around 45% uptake under realistic design
The Bank for International Settlements' paper on Austrian consumers' potential digital euro adoption highlights financial loss protection and monetary incentives as key drivers. Involving 1,421 participants, the study found a realistic design could achieve a 45% adoption rate, with EUR 10 monthly savings and enhanced loss protection boosting likelihood. Younger, higher-educated individuals and those trusting the central bank were more inclined to adopt, while privacy-sensitive consumers were less responsive to incentives.
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Bank for International Settlements study finds FX debt is widespread and most corporates hedge exchange rate risk with heavier tail exposures in emerging markets
The Bank for International Settlements released a working paper analyzing non-financial corporates' use of foreign currency debt and hedging practices. Covering over 66,000 firms across 47 countries from 2005 to 2023, it reveals that while FX borrowing is prevalent in both advanced and emerging economies, emerging markets have more firms with unhedged depreciation risk. The paper finds FX debt exposures are generally offset by other balance-sheet or operational exposures, with emerging market firms relying more on FX revenues and assets for hedging.
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Inter Governmental Action Group against Money Laundering in West Africa publishes Guinea follow up report assessing progress on Recommendations 28 and 34
The Inter Governmental Action Group against Money Laundering in West Africa has issued Guinea’s second enhanced follow-up report under its mutual evaluation process. It assesses Guinea’s technical compliance progress on Recommendations 28 and 34, which are subject to possible re-rating if sufficient progress has been made.
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Intergovernmental Action Group against Money Laundering in West Africa to hold 44th plenary with follow up reviews of four member states
The Intergovernmental Action Group against Money Laundering in West Africa will hold its 44th Technical Commission and Plenary meetings in Monrovia from November 17 to 21, 2025. The agenda centers on follow-up reports for Mali, Niger, Guinea and Sierra Leone under the second round of mutual evaluations, as well as work on trade-related ML/TF/PF risk typologies and an operational manual for member states' Financial Intelligence Units. GIABA will also celebrate its 25th anniversary during the meetings.
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Inter Governmental Action Group against Money Laundering in West Africa publishes Sierra Leone fifth enhanced follow-up report on FATF technical compliance progress
The Inter Governmental Action Group against Money Laundering in West Africa has published Sierra Leone’s fifth enhanced follow-up report. It reviews progress on Financial Action Task Force technical compliance items subject to re-rating after the December 2020 mutual evaluation report.
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Inter Governmental Action Group against Money Laundering in West Africa opens permanent Administrative and Stores Assistant role in Dakar
The Inter Governmental Action Group against Money Laundering in West Africa has opened recruitment for a permanent Administrative and Stores Assistant in Dakar. The role covers administrative support, stores and asset management, supplier oversight and facilities-related duties, with salary bands from UC 23,895.00 to UC 31,502.30. Applications close on 26 December 2025 and the post is subject to ECOWAS local recruitment rules.
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Inter Governmental Action Group against Money Laundering in West Africa seeks research documentation and publication assistant for permanent Dakar post
The Inter Governmental Action Group against Money Laundering in West Africa is recruiting a permanent Research, Documentation and Publication Assistant for its Policy and Research Directorate in Dakar. The G4 to G6 role covers documentation systems, libraries, research support, typologies work and publication management, with applications due by 26 December 2025. The post is subject to ECOWAS local recruitment rules.
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Inter Governmental Action Group against Money Laundering in West Africa opens recruitment for a permanent Protocol Assistant role in Abidjan
The Inter Governmental Action Group against Money Laundering in West Africa is recruiting a permanent Protocol Assistant in Abidjan at grades G4 to G6. The role covers protocol, conference logistics, travel and administrative support, with applications due by 26 December 2025. The post is subject to ECOWAS local recruitment rules and requires at least two years of protocol experience in an international institution.
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International Organization of Securities Commissions issues final report on applying benchmark principles to ESG indices used as benchmarks
The International Organization of Securities Commissions (IOSCO) released a report evaluating the application of its Principles for Financial Benchmarks to ESG indices. The report affirms broad applicability but recommends proportional application and additional considerations due to ESG data's unique nature. It emphasizes enhanced oversight, transparency, and conflict-of-interest controls for ESG benchmark administrators, highlighting the need for frequent reviews and robust governance structures.
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International Organization of Securities Commissions launches consultation on merged valuation recommendations to replace CIS and hedge fund principles
The International Organization of Securities Commissions (IOSCO) has released a consultation report proposing 13 updated recommendations for valuing collective investment schemes (CIS), replacing its 2013 CIS Valuation Principles and 2007 Hedge Fund Principles. The recommendations address market developments, including increased retail investment and valuation challenges during market volatility, covering valuation governance, conflicts of interest, fair value methodology, and investor disclosure. The final report is expected in 2026, with implementation promoted by securities regulators.
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South African Reserve Bank publishes second edition 2025 Financial Stability Review projecting continued resilience and highlighting new risks on concentration and crypto assets
The South African Reserve Bank's 2025 Financial Stability Review shows the financial system's resilience, with systemic risk indicators at benign levels and a positive outlook through November 2026. Despite easing domestic financial conditions and a rebound in asset markets, vulnerabilities persist due to high public debt and pressures on households and SMEs. The review highlights efforts on countercyclical capital buffers, crisis preparedness, and regulatory updates, including cross-border crypto-asset transactions and Exchange Control Regulations.
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European Central Bank publishes framework to gauge EU-wide stress test scenario severity and finds 2025 adverse scenario most severe after risk adjustment
The European Central Bank's Macroprudential Bulletin introduces a framework to assess adverse macro-financial scenarios in EU banking stress tests. Combining historical and model-based metrics, it shows intensified scenarios, with 2023 as the peak in unadjusted measures and 2025 slightly more severe in risk-adjusted methods. The ECB suggests this framework could improve scenario severity definition and communication in future European Banking Authority stress tests.
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European Central Bank warns stablecoin growth above USD 280 billion heightens run and cross-border arbitrage risks
The European Central Bank's Financial Stability Review highlights stablecoins' rapid growth and associated risks, emphasizing the need for close monitoring due to cross-border regulatory arbitrage. The ECB notes stablecoins, mainly used for crypto trading, pose risks like de-pegging, reserve asset fire sales, and shifts from retail bank deposits, with MiCAR addressing some concerns. It calls for additional safeguards for EU market access and global alignment with the G20 crypto-asset roadmap and Financial Stability Board recommendations.
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European Central Bank research finds rolling recessions can mask sectoral vulnerabilities and raise correlated bank credit losses
The European Central Bank's Financial Stability Review examines "rolling recessions" in the euro area, highlighting sectoral downturns that propagate sequentially. The research suggests these recessions obscure vulnerabilities despite low aggregate credit-risk metrics, with risks potentially becoming systemic if sectoral downturns synchronize. It recommends enhancing risk surveillance frameworks with sectoral, regional, and borrower-type analysis.
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European Central Bank analysis finds household investors buffered liquidity pressures in euro area equity and high-yield bond funds during April 2025 volatility
The European Central Bank's Financial Stability Review reveals that euro area investment funds held by households are more resilient to liquidity shocks than those dominated by foreign or institutional investors. Research on the April 2025 market turmoil shows household-held funds had smaller, less procyclical outflows. The ECB suggests prudential measures should consider investor behavior, noting increased household participation could enhance funding stability during stress.
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European Central Bank reviews euro area banks’ US dollar intermediation and highlights potential liquidity risks
The European Central Bank's Financial Stability Review highlights that euro area banks' US dollar exposures, driven by wholesale capital markets activities, pose liquidity risks during market disruptions. These exposures are concentrated among global systemically important banks and dominated by derivatives and repo borrowing. The ECB emphasizes maintaining US dollar liquidity buffers to mitigate risks and ensure continued service provision during stress periods.
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Bank of England working paper presents evidence that higher inventories amplify the disinflationary effects of monetary tightening
The Bank of England's Staff Working Paper No. 1,153 explores the "cost-of-carry channel" in monetary policy, where interest rate changes affect firms' inventory costs and pricing. The research indicates higher inventory costs lead firms to reduce prices, impacting inflation dynamics. The findings suggest abundant inventories improve the central bank's ability to stabilize inflation with a more favorable sacrifice ratio.
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Bank of England staff paper finds Credit Suisse exposed FX derivatives clients paid about 16 basis points more in spreads after the March 2023 shock
The Bank of England's Staff Working Paper No. 1,154 examines dealer-client trading relationships in the over-the-counter foreign exchange derivatives market, highlighting persistent relationships and increased trading costs for clients heavily reliant on Credit Suisse during its March 2023 distress. Clients with greater exposure to Credit Suisse faced a 16 basis point increase in spreads, with a 24 basis point differential at their main non-Credit Suisse dealer. The paper is research in progress and does not reflect official Bank of England policy.
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Central Bank of Russia reports Coin Week returned 56 million coins worth RUB 245 million to circulation
The Central Bank of Russia reported that its Coin Week campaign in October 2025 returned over 56 million coins valued at approximately RUB 245 million to circulation, marking the best result since 2023. Across five Coin Week events, over 215 million coins worth nearly RUB 956 million have been returned. Some banks and retailers continue to accept coins for exchange or account crediting post-event.
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Central Bank of Russia analytical review shows rising credit history bureau usage with borrower rating queries up one-third
The Central Bank of Russia's 2025 H1 review highlights increased use of credit history bureaus (CHBs), with a 9% rise in credit report requests by individuals and a one-third increase by banks and microfinance organisations. Demand for CHB services surged, particularly in online microloans, with credit scoring services nearly doubling. The central bank estimates each RUB 1 spent on credit reports could reduce overdue loan amounts by over RUB 280, marking a 25% improvement.
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Central Bank of Russia urges banks to tighten customer identification and card activation controls to deter droppers
The Central Bank of Russia has advised banks to enhance customer identification controls to mitigate the risk of accounts and payment cards being misused by "droppers." The guidance emphasizes verifying client documents, ensuring card activation by the true holder, and strengthening controls at high-risk locations, potentially using photo and video recording for verification.
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International Organization of Securities Commissions and CPMI identify six serious gaps in FMIs’ implementation of PFMI general business risk standards
IOSCO and the BIS CPMI released a Level 3 peer benchmarking assessment on implementing Principles for Financial Market Infrastructures (PFMI) concerning general business risk. The report, surveying 34 FMIs across 27 jurisdictions, identifies six serious issues, including inadequate liquid net assets funded by equity and insufficient recovery and wind-down planning, with significant cross-FMI differences in controls and scenario analysis.
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International Organization of Securities Commissions launches consultation on updated recommendations for listed entity secondary market disclosure
IOSCO has issued a consultation report proposing non-binding recommendations for secondary markets disclosure. The proposal aims to modernize and consolidate previous guidance, focusing on materiality, fair presentation, and consistency across disclosure channels. It includes guidelines on reporting timelines, cross-listing disclosure expectations, and accountability measures, targeting listed entities with public reporting obligations.
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Central Bank of Nigeria publishes draft guidelines on prevention, complaint handling and reimbursement for authorised push payment fraud
The Central Bank of Nigeria issued draft guidelines for CBN-licensed financial institutions to combat Authorised Push Payment fraud, requiring board-level governance, a biennial APP fraud policy review, and compliance-led implementation. Institutions must establish an Early Warning System, provide 24/7 reporting channels, and ensure customer reimbursement within 48 hours post-investigation. The guidelines also include joint investigation protocols for multi-institution cases, quarterly regulatory returns, and sanctions for non-compliance.
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Canadian Public Accountability Board reminds auditors of NI 52-108 notice requirements to secure access to significant component auditor working papers
The Canadian Public Accountability Board (CPAB) reminded auditors of the requirements under Canadian Securities Regulators National Instrument 52-108 regarding access to significant component auditor working papers. CPAB emphasized the need for reporting issuers to provide written notice allowing CPAB access to audit evidence, highlighting the consequences of non-compliance, including future audit ineligibility.
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State Bank of Vietnam sets out planned decree on banking licensing, foreign exchange and AML controls for Vietnam’s international financial centres
Governor Nguyễn Thị Hồng of the State Bank of Vietnam visited the UK to discuss international financial centres in Ho Chi Minh City and Da Nang, focusing on banking licensing and AML/CFT. The visit led to a Vietnam–UK joint statement upgrading relations to a comprehensive strategic partnership, emphasizing economic and financial collaboration, including a "Vietnam–UK Green Finance Partnership." The Governor urged institutions like Standard Chartered to engage in the initiative, noting strengthened cooperation with UK authorities in banking supervision and AML/CFT.
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Central Bank of Peru reports 12-month inflation expectations falling to 2.13% in December 2025
The Central Bank of Peru reported that 12-month inflation expectations for December 2025 declined to 2.13%, staying within the target range, with 2026 and 2027 expectations also remaining within target. For 2026, forecasts were revised down to a range of 2.10% to 2.20%, and for 2027, expectations were between 2.20% and 2.30%.
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Australia's Department of the Treasury launches consultation on Scams Prevention Framework codes and rules and publishes draft sector designation and AFCA authorisation instruments
Australia's Department of the Treasury released a position paper and draft legislative instruments on the Scams Prevention Framework (SPF) for banks, telecom providers, and digital platforms. Proposals include sector codes, minimum obligations, and using the Australian Financial Complaints Authority for dispute resolution. The draft covers deposit-taking institutions, telecom carriers, and digital platforms, with ASIC, the Australian Communications and Media Authority, and the Australian Competition and Consumer Commission as regulators.
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Venezuela's Ministry of Economy and Finance’s Sudeca hosts first AML CFT congress for the savings banks sector
Venezuela’s Superintendence of Savings Banks (Sudeca) held its first congress on preventing money laundering and terrorist financing, emphasizing asset protection and sector integrity. Superintendent Joel González highlighted supervisory actions, including 244 inspections and 902 training activities in September 2025. Discussions addressed AML/CFT rule implementation, national risk assessment, and technology-driven risks in digital payments.
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State Bank of Pakistan appoints Muhammad Amin Khan Lodhi as Deputy Governor for five-year term
The State Bank of Pakistan has appointed Muhammad Amin Khan Lodhi as Deputy Governor for a five-year term, effective 30 October 2025. Lodhi previously served as Executive Director of the Monetary Policy and Research Group, contributing to key initiatives such as the market-based exchange rate regime and the SBP Vision 2028 strategic plan.
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Superintendency of Banks of Panama hosts Federal Reserve-led training on consolidated supervision and risk integration
The Superintendency of Banks of Panama hosted an advanced course on "Consolidated Supervision and Risk Integration" for experienced banking supervisors, featuring experts from the Federal Reserve. Held from 27 to 30 October, the program included lectures, discussions, and case analyses to enhance understanding of risk management in complex banking institutions. Participants from various countries attended, with opening remarks by Roxana Castillo, SBP’s Director of Supervision of Financial Intermediaries and Trust Companies.