The National Bank of the Republic of Tajikistan issued a new licence to LLC Takaful Insurance Organization for conducting insurance activities, voiding previous licences granted under Board Decisions No. 63 and No. 103.
At Semana Dominicana 2025, the Dominican Republic Securities Market Superintendency highlighted domestic capital market growth and ongoing regulatory modernization, including a crowdfunding regulation under public consultation. Key metrics included a 2024 settled volume of USD 240 billion, assets under custody of USD 48.37 billion, and USD 80 billion raised since 2015. The presentation noted regulatory reforms aligned with international standards and technology upgrades for risk-based supervision.
The Central Bank of Curaçao and Sint Maarten released a study showing Sint Maarten has attracted less foreign direct investment (FDI) since 2011 compared to other Caribbean nations, due to its mature tourism industry. The study suggests reorienting investment strategies towards higher-value tourism segments and diversifying into infrastructure renewal and marine tourism. It also recommends enhancing statistical capacity for more comprehensive FDI and tourism data.
The New York State Department of Financial Services announced Superintendent Adrienne Harris's departure, with Kaitlin Asrow named as Acting Superintendent. Harris was recognized for her work on consumer protection, cryptocurrency, cybersecurity, and banking discrimination, among other areas. Stakeholders expressed anticipation for continued collaboration under Asrow's leadership.
The South African Reserve Bank (SARB) announced its 2026 Financial Stability Research Symposium will be held in-person on 23–24 June 2026 in Pretoria, inviting academic submissions on financial stability and macroprudential research. The event will feature presentations and discussions with researchers, central bankers, and policymakers, with SARB covering travel and accommodation for non-Gauteng speakers.
Estonia's Financial Supervision and Resolution Authority (Finantsinspektsioon) is reviewing the impact of financial influencers on investment decisions and applicable legal restrictions. The review aims to guide influencers and followers on compliance with financial laws and provide tools for assessing investment information reliability. Finantsinspektsioon emphasized the importance of correct and transparent investment information, despite influencers not being directly supervised.
The Central Bank of the Philippines emphasized public-private collaboration for inclusive and sustainable growth at the Philippine Economic Briefing. Monetary Board Member Jose L. Querubin highlighted commitments to price and financial stability, efficient payment systems, and good governance. The event focused on macroeconomic fundamentals, economic reforms, and regional development, particularly in Pampanga and Central Luzon.
European Central Bank Executive Board member Isabel Schnabel emphasized preserving post-crisis banking reforms for resilience, enhancing rule efficiency, and strengthening safeguards for non-bank financial intermediaries (NBFIs) and stablecoins. She noted improved euro area banks' capital and liquidity ratios, the growing role of NBFIs, and stablecoin risks, highlighting increased deposits from crypto exchanges and stablecoin issuers. Schnabel argued higher bank capitalization can enhance profit efficiency and mentioned efforts to streamline supervision and harmonize reporting.
The European Central Bank's weekly financial statement reported total assets and liabilities of EUR 6,209,218 million, with transactions decreasing by EUR 14,686 million and quarter-end adjustments increasing by EUR 153,065 million. Gold and gold receivables were EUR 1,128,546 million, influenced by quarter-end adjustments of EUR 156,071 million. Banknotes in circulation rose to EUR 1,591,429 million, while monetary policy liabilities to euro area credit institutions decreased to EUR 2,768,366 million.
The National Bank of Serbia hosted the third Regional Panel of Banking Supervisors in Belgrade to enhance regional supervisory cooperation. Governor Jorgovanka Tabaković highlighted Serbia's stable banking sector, citing low non-performing loan ratios and recent regulatory measures, including strengthened supervisory powers and consumer protection laws. Discussions included licensing, supervisory assessments, and adapting to a dynamic regulatory environment.
The National Bank of Serbia released September 2025 statistics for its RTGS and Clearing systems, processing 18.9 million payments with 100% system availability. RTGS accounted for 96.1% of transactions, with a turnover of RSD 18,583.3 billion, while Clearing handled 0.7 million payments. The interbank and international foreign currency clearing systems processed EUR 156,863,046.11, maintaining full operational uptime.
The National Bank of Serbia reported September 2025 statistics for the IPS NBS system, with 9,316,067 transactions and a turnover of RSD 122.1 billion. The system averaged 310,536 daily payments with an execution time of 1 second and a daily turnover value of RSD 4,070.8 million.
The Philippines Insurance Commission requires all insurance entities to submit product inventories for compliance with the Financial Products and Services Consumer Protection Act. As of 2 October 2025, 131 licensed entities complied, but AIA Philippines Life and General Insurance Company Inc. and BPI AIA Life Assurance Corporation did not. The Commission warned of penalties for unapproved products and updates the regulated entities list quarterly on its website.
The Philippines Insurance Commission has lifted the suspension of the Certificate of Authority for Intra Strata Assurance Corporation and released the company from conservatorship, effective 3 October 2025.
Securities Commission Malaysia launched the National Strategy for Financial Literacy 2026–2030 (NS2.0) during Financial Literacy Month 2025, outlining five strategic priorities and a Monitoring and Evaluation Framework. NS2.0 aims to enhance financial management across life stages, focusing on partnerships, support for vulnerable groups, and digital literacy. The launch included the National Financial Literacy Symposium 2025, gathering experts to discuss evidence-based insights for NS2.0 initiatives.
The Vietnam State Securities Commission has mandated individuals listed in an annex to pay a VND 1,000,000 licensing fee to obtain a securities practising certificate, as per the Ministry of Finance’s Circular 25/2022/TT-BTC. Payments can be made via bank transfer to Vietinbank or Vietcombank, or in person at the Commission. Failure to complete the procedure within one year of the fee notice will result in certificate cancellation.
The Central Bank of the Republic of Azerbaijan reminded issuers of their obligations under the Securities Market Law to submit and publicly disclose annual reports within specified timeframes. Joint-stock companies must prepare and approve reports, including management reports, financial statements, and auditor opinions, and publish them unless instructed otherwise. Non-compliance may result in warning letters and administrative liability.
The Guernsey Financial Services Commission amended the designation details for Europaisch-Iranische Handelsbank AG under the Iran (Sanctions) (Nuclear) (EU Exit) Regulations 2019, maintaining its asset freeze in Guernsey. Businesses must verify relationships with designated entities, freeze relevant assets, and report to the States of Guernsey Policy & Resources Committee. Firms are prohibited from providing funds to designated entities unless a permitted derogation or licence is in place.
The Guernsey Financial Services Commission amended UK designations of Rampage Productions and Embers of an Empire under the Counter-Terrorism (International Sanctions) (EU Exit) Regulations 2019. Both remain on the UK consolidated list and are subject to an asset freeze, effective in the Bailiwick through the Sanctions (Implementation of UK Regimes) (Bailiwick of Guernsey) (Brexit) Regulations 2020. Businesses must freeze related assets and report findings to the States of Guernsey Policy & Resources Committee, ensuring compliance with Handbook Rule 12.37.
Bank Negara Malaysia and Securities Commission Malaysia launched the National Strategy for Financial Literacy 2026–2030 (NS2.0) during Financial Literacy Month 2025. NS2.0 aims to enhance financial literacy through strategic partnerships, tailored advisory support, and improved digital literacy, supported by a Monitoring and Evaluation Framework. The 'Skuad Celik Kewangan' roadshow will provide financial education across 111 locations, targeting vulnerable groups and rural micro-entrepreneurs.
The Central Bank of Bahrain has launched a Real-Time Gross Settlement system operational during public holidays, starting 3 October 2025, with a morning session for Fawri transactions. This enables Fawri transfers over BHD 3,000 to be processed even on holidays. The system supports electronic fund transfers and payments credited to recipients' accounts by retail banks.
The National Reserve Bank of Tonga announced that the Supreme Court dismissed a judicial review claim by former Tonga Development Bank executives challenging the central bank's supervisory directives and dissolved an injunction against the bank. Additionally, a separate claim against the central bank and others was struck out as defective, with liberty to replead, allowing for potential refiling in amended form.
The Croatian Financial Services Supervisory Agency and the Ministry of Finance held a quarterly consultation with financial industry representatives on regulatory dialogue and capital market development. Key topics included Hanfa's Guidelines on share redemption, a new Memorandum of Understanding for regional cooperation, and digital service enhancements for market processes. The session also addressed regulatory simplification and Croatia's 2025–2030 capital market strategy.
The Islamic Financial Services Board, Bank Indonesia, and the International Islamic Liquidity Management Corporation held their annual seminar in Jakarta, focusing on resilience and innovation in liquidity management for Islamic finance. IFSB Secretary-General Dr. Ghiath Shabsigh emphasized the need for tailored frameworks as Islamic finance nears USD 3.9 trillion and systemic importance. Panels addressed policy responses, digital technology, and inclusivity, with an investor forum on sukuk as cross-border liquidity solutions.
The U.S. House Committee on Financial Services has advanced the Supervisory Modifications for Appropriate Risk-based Testing (SMART) Act of 2025, aimed at reducing examination burdens for well-managed, well-capitalized financial institutions through a risk-based supervisory approach. The bill proposes biennial full-scope on-site examinations and allows for concurrent examinations to minimize overlap. Regulators must issue implementing rules within 12 months, except for institutions with recent enforcement actions or major changes in control.
The Central Bank of Russia announced micromortgage companies (MMCs) as a new financial market participant category to support housing affordability, effective 22 October 2025. The Central Bank will supervise MMCs, maintain a list of authorised companies, and has suspended the effective interest rate limit for MMCs until 31 March 2026. MMCs must be wholly owned by Russian Federation territories, with each region allowed to establish only one MMC.
The Central Bank of Russia released its September 2025 monitoring results for average maximum interest rates on Russian ruble household deposits from the top 10 banks by retail deposit volume. The average maximum rate was 15.59% for the first 10 days, 15.56% for the second, and 15.55% for the third. Rates by maturity were 14.95% for up to 180 days, 14.02% for 181 days to one year, and 12.18% for over one year.
The Thailand Securities and Exchange Commission (SEC) launched a financial literacy campaign for World Investor Week 2025, themed “Financial Well-Being Journey: Informed Decisions, Empowered Choices in the New Era of Finance”. Running from 6–12 October, it covers investment fraud, financial planning, and retirement planning, with content on Facebook and TikTok. The SEC highlighted its alignment with IOSCO's focus on "Relationship Investment Scams," noting global damages estimated at USD 75 billion.
The Moroccan Capital Market Authority has registered Jaida’s reference document for the 2024 financial year as part of the annual update for its finance company bills programme. The updated dossier includes the newly registered reference document and a note from September 2023. It is accessible at Jaida’s headquarters, its website, and the AMMC website.
The Moroccan Capital Market Authority has registered CDG Capital’s update to its certificates of deposit programme, raising the programme ceiling from MAD 5 billion to MAD 6 billion. Certificates have a nominal value of MAD 100,000, with maturities from 10 days to 7 years, and may carry fixed or variable interest rates.
The Moroccan Capital Market Authority has registered SOFAC’s updated information dossier for its finance company bills programme, raising the ceiling to MAD 9 billion from MAD 7 billion. The programme includes a unit nominal value of MAD 100,000, maturities from 2 to 7 years, and fixed or variable interest rates.
The Swedish Financial Supervisory Authority has set the 2026 technical interest rates at 2.4% for obligations without future value protection and 0.8% for those with such promises. A 0.4 percentage point deduction applies for obligations subject to tax on returns. These rates are ceilings, with lower assumptions allowed, applicable to financial years ending after 1 January 2026 and no later than 31 December 2025.
Sweden's Financial Supervisory Authority (Finansinspektionen, FI) added 40 unauthorised actors to its consumer warning list, highlighting their use in fraudulent loan and investment schemes. These actors contact consumers via social media, offering attractive but deceptive financial opportunities, and engage in "recovery room" scams. FI advises consumers to verify firm licenses through its register and the IOSCO database.
The Bank of Albania announced that Second Deputy Governor Natasha Ahmetaj participated in the Vienna Initiative Full Forum 2025, discussing the Savings and Investments Union and SEPA expansion. Albania is the first Western Balkan country to join SEPA, with initial transfers starting on 7 October 2025. The forum addressed regional structural constraints and emphasized the need for capital market integration and payments infrastructure upgrades.
The Federal Reserve Board has approved Huntington Bancshares Incorporated's application to acquire Veritex Holdings, Inc., including its subsidiary Veritex Community Bank, based in Dallas, Texas.
The Federal Reserve Board has approved BancFirst Corporation's acquisition of AmeriBank Holding Company and its subsidiary, American Bank of Oklahoma.
Moldova's National Commission for Financial Markets (CNPF) adopted decisions on consumer protection and capital markets, including actions against non-bank lenders LOIAL CREDIT and OK CREDIT for consumer credit law breaches. The CNPF also addressed insurance supervision issues at GRAWE CARAT ASIGURARI and registered additional share issues for DRUMURI ORHEI and DRUMURI-CRIULENI. The regulator announced a shift towards risk-based supervision in the capital market.
The Hellenic Capital Market Commission approved EURONEXT N.V.'s voluntary tender offer for Hellenic Exchanges – Athens Stock Exchange S.A. Holding and took related licensing actions. WHITETIP INVESTMENTS received an extended operating licence, AXON SECURITIES was fined EUR 3,000 for late financial reporting, and BLE KEDROS REAL ESTATE INVESTMENT COMPANY had its AIF operating licence partially revoked.
Chile’s Financial Market Commission (CMF) issued a public alert regarding fraudulent entities offering loans online and via WhatsApp, falsely claiming CMF supervision and requesting advance payments. The CMF filed fraud complaints against several entities, including Crediflex and impersonators of legitimate firms. The CMF advises the public to consult its Fraud Alerts Page for verification and guidance.
The British Columbia Financial Services Authority (BCFSA) is investigating Fine Investment Inc., also known as Nick Financial, for unauthorized deposit-taking in British Columbia. BCFSA secured a formal undertaking requiring Nick Financial to cease accepting deposits and return consumer funds by 15 November 2025. Further actions may be taken as the investigation progresses.
The British Columbia Financial Services Authority (BCFSA) is investigating Fine Investment Inc., also known as Nick Financial, and its director, Ali Nikfarjam, for unauthorized deposit-taking activities. Nick Financial has agreed to cease accepting deposits and must return consumer funds by mid-November 2025. BCFSA advises consumers against depositing funds with Nick Financial under programs promising specific returns.
The British Columbia Financial Services Authority (BCFSA) issued a consumer alert about unauthorized deposit-taking by Fine Investment Inc., operating as Nick Financial, and its director, Ali Nikfarjam. The firm allegedly violated section 81(1) of the Financial Institutions Act by soliciting deposits without authorization. Nick Financial agreed to cease these activities, return all consumer funds, and confirm repayment to BCFSA, with further actions possible under Part 8 of the Act.
The British Columbia Financial Services Authority (BCFSA) issued a consumer alert against Fine Investment Inc., operating as Nick Financial Investment Inc., and its director, Ali Nikfarjam, for unauthorized deposit-taking activities. The firm agreed to cease operations, return consumer funds, and stop misrepresenting its authorization status. The investigation is ongoing, with potential penalties of up to CAD 50,000 per contravention.
The Malta Financial Services Authority (MFSA) issued a Dear CEO letter urging financial institutions to prioritize business resilience after a review exposed gaps in preparedness for consumer protection during disruptions. Key issues include weak financial forecasting, over-reliance on major clients, narrow risk identification, and inadequate business continuity testing. The MFSA expects institutions to integrate resilience into strategy and operations, supported by comprehensive risk assessments and regular stress testing.
The Argentina Securities Commission (CNV) hosted IOSCO’s Inter-American Regional Committee plenary in Buenos Aires, focusing on virtual asset regulation and open finance. Key discussions included regional supervisory approaches and Argentina's new regulation for virtual asset service providers. CNV Chair Roberto E. Silva was noted as the IARC representative to IOSCO for 2024–2026.
The State Bank of Vietnam appointed Nguyễn Anh Tuấn as Director of the SBV Transaction Office, effective 1 October 2025, for a five-year term. Previously, he served as Deputy Director of the SBV’s Department of Organisation and Personnel. Deputy Governor Phạm Thanh Hà emphasized the importance of fulfilling core functions and organizing the unit effectively.
The State Bank of Vietnam has issued a circular establishing a regulatory framework for subsidiaries and affiliated companies of credit institutions involved in debt management and asset exploitation. The circular details permitted activities, rights, and obligations, including debt management, resolution, and asset exploitation. It will take effect on 1 December 2025.
The State Bank of Vietnam has amended its framework for cooperative banks and the Safety Assurance Fund for the People’s Credit Fund system. Key changes include enhanced governance powers, revised supervisory and intervention arrangements, and updated operational activities and fee contributions. The amendments also clarify internal responsibilities within the central bank.
The State Bank of Vietnam appointed representatives for the State’s capital at the Vietnam National Payment Corporation (NAPAS) for 2025–2030, including Nguyen Quang Hung as Chairman and Nguyen Quang Minh as CEO. The bank emphasized expectations for effective governance and capital management, focusing on operational security, talent development, and digitalization. Additionally, NAPAS appointed Duong Thi Thanh Binh and Nguyen Thanh Tung as Deputy CEOs.
The Monetary Authority of Macao (AMCM) and Banco de Cabo Verde have signed a Cooperation Agreement on Supervisory Matters to enhance collaboration and information exchange in financial supervision. Signed during the 12th BCPLP Governors’ Meeting, it focuses on prudential supervision, anti-money laundering, counter-terrorist financing, and technical cooperation. AMCM also has agreements with 12 financial supervisory authorities across eight Portuguese-speaking countries to deepen financial cooperation and promote exchanges via Macau.
The Securities and Exchange Board of India clarified that media reports about its consideration of regulatory oversight for family offices are incorrect. It confirmed that it is not examining or pursuing this matter currently.
Panama's Superintendency of Banks participated in the XXXIV Latin American Trust Congress, focusing on trends in trust services. Luis Sánchez Morillo, Manager for Fiduciary Prevention, highlighted the importance of accurate beneficial owner identification for transparency and risk prevention. Discussions included regulatory trends, digital assets integration, and the role of trusts in sustainability and asset protection.
At the Fintech Moldova Conference 2025, National Bank of Moldova First Deputy Governor Petru Rotaru highlighted fintech advancements, including imminent SEPA integration and instant payments expansion. He reported significant uptake of MIA Instant Payments, with over 750,000 users and 13 million transactions, and announced person-to-government payments. Additionally, a national Open Banking standard ensures secure access to financial data.
The Central Bank of The Bahamas has initiated a public consultation on a framework to ensure access to basic banking accounts for unbanked and underbanked individuals. The proposal mandates commercial banks to offer low-cost accounts interoperable with domestic payments infrastructure, featuring simplified due diligence and capped transactions. It includes a restricted-tier account for higher-risk customers to manage fraud and anti-money laundering risks.
The Eastern Caribbean Central Bank has revoked RBTT Bank Caribbean Limited’s banking licence in Saint Vincent and the Grenadines, effective 3 October 2025, under the Banking Act. This follows the transfer of RBTT Bank’s operations to 1st National Bank St Lucia Limited, completed on 31 July 2022, with the transitional period ending on 30 June 2025. A Notice of Revocation will be published in the Gazette and a local newspaper.
The Eastern Caribbean Central Bank launched the Financial Information Month Festival 2025, focusing on financial resilience and transitioning citizens from savers to investors. Key initiatives include the First Step Savings Account and the Regional Government Securities Market Retail Bond Initiative, with 115 institutional partners across the Eastern Caribbean Currency Union. The festival, now in its 23rd year, features activities throughout October.
The Angola Capital Markets Commission conducted clarification sessions for financial entities on Instruction No. 03/CMC/06-25, which updates rules on transferring investment services in securities and derivatives. The instruction extends the period for IFB operations in capital markets to 31 December 2030, detailing permissible services and ongoing obligations.
The Angola Capital Markets Commission participated in Rádio Escola’s “Boa Tarde Ouvinte” programme to promote World Investor Week, an IOSCO initiative on financial literacy and investor protection. The broadcast, featuring Kennedy Benguela and César Marcelino, outlined the week's objectives, events, and the importance of financial education and planning, emphasizing collaboration between national financial regulators.
The Ghana National Insurance Commission and the Driver and Vehicle Licensing Authority will require proof of valid motor insurance before issuing or renewing roadworthy certificates. This reform aims to enhance public protection for commuters and pedestrians by reversing the current process where roadworthy certification precedes insurance acquisition.
The Egmont Group concluded Sarah Paquet's term as Chair of the Egmont Information Exchange Working Group, noting her contributions to anti-money laundering and counter-terrorist financing efforts from July 2021 to July 2025, including 25 projects enhancing financial intelligence unit capacity and 11 joint initiatives with partners like the Financial Action Task Force.
The Central Bank of Cyprus released August 2025 statistics on euro-denominated deposits and loans, showing stable household short-term deposit rates and varied borrowing costs. Consumer loan rates decreased to 7.09%, while home purchase loans slightly increased to 3.91%. Net new loans dropped significantly to EUR 245.5 million from EUR 445.3 million the previous month.
The Banque de France, Prudential Supervision and Resolution Authority, and French Financial Markets Authority have initiated a stress test involving over 25 French financial institutions to evaluate shock transmission during financial stress. The test includes a severe market shock scenario and draws on UK experiences, with results consolidated in 2026. A joint synthesis report will be published, and participation is voluntary, not affecting individual supervision.
The National Bank of Ukraine reported its special fundraising account for Ukraine's defence forces transferred over UAH 3.8 billion in September 2025, with a balance of nearly UAH 4 billion as of 1 October 2025. Since February 2022, the account has received over UAH 86.3 billion, with significant allocations to the Ministry of Defense and the Defence Procurement Agency. The update noted returns of unused funds in September, including over UAH 333 million from the Ministry of Defense.
The Danish Financial Supervisory Authority has initiated a consultation on the draft 2025 DKFIN taxonomy, outlining the XBRL structure for digital reporting by financial-sector firms. Developed in 2024, it will be mandatory for in-scope firms for the 2025 financial year, aiming to enhance usability by aligning with current legal provisions and optimizing tags for financial statement elements. DKFIN is part of the Danish Business Authority’s taxonomy under the Annual Accounts Act, also under consultation.
The Spanish Securities Commission (CNMV) released a Q&A document detailing its interpretative criteria on gender balance in boards and senior management under Article 529 bis of the Capital Companies Act. It addresses board composition assessment, the 40% gender target, public disclosure requirements, and staggered implementation. It also outlines the CNMV's supervisory roles and notes the transposition of the EU directive on gender balance, amending the Capital Companies Act and introducing a sanctions framework.
The Montenegro Capital Market Authority launched "Kapitalko," an interactive online game to educate children and users on finance and capital markets. Unveiled at the International Conference “Montenegro Financial Markets,” the game complements existing financial literacy efforts and is available for free on mobile app stores.
The Italian Securities Commission, Consob, has ordered the blocking of five websites offering unauthorised financial services and requested Google and Apple to remove two related apps in Italy. These actions are based on powers from Italy's 2019 "Growth Decree," allowing Consob to restrict access to such sites. Consob emphasized verifying provider authorisation and ensuring financial product offers include a prospectus or white paper.
Senior Deputy Governor Luigi Federico Signorini of the Bank of Italy, also President of the Insurance Supervisory Authority, addressed the 57th Credit Day on the evolution of financial regulation in Europe and internationally.
The European Systemic Risk Board's 59th General Board meeting highlighted elevated financial stability risks in the EU due to geopolitical uncertainty, despite reduced trade uncertainty from the US-EU tariff package. Concerns were raised over misaligned asset valuations, sovereign risk pressures, and fiscal strains from security threats. Upcoming reports will address stablecoin vulnerabilities and AI-related systemic risks, with the ESRB emphasizing urgent policy responses.
ASIC accepted court-enforceable undertakings from auditors linked to Hall Chadwick (NSW) for breaching lead auditor rotation requirements. Drew Townsend and former partners admitted to acting as lead auditors 14 times across eight companies without eligibility between 2019 and 2023. ASIC found deficiencies in Hall Chadwick's quality management system and mandated an independent review to ensure compliance with independence and conflict-of-interest obligations.
The Australian Securities & Investments Commission (ASIC) has banned former insurance broker Munther El-Alami for eight years from providing financial services due to misleading conduct in life insurance applications. ASIC determined he is unfit for the Australian financial services industry, with the ban effective from 17 September 2025 and recorded on ASIC’s banned and disqualified register. El-Alami may seek a review by the Administrative Review Tribunal.
The Ukraine National Commission on Securities and Stock Market approved a draft decision to amend the share accounting system for limited and additional liability companies. The draft clarifies share ownership transfer, simplifies post-trade account procedures, and introduces safeguards related to pledges and sanctions. It will take effect following approval at a Commission meeting.
The Ukraine National Commission on Securities and Stock Market participated in a seminar reviewing the OECD's preliminary conclusions on enhancing financial markets and corporate governance in Ukraine. Discussions included capital market development, updating listing requirements, and strengthening regulatory oversight and enforcement. Recommendations focused on improving the Commission's institutional capacity and compliance monitoring systems.
In a conference speech, Angola’s Secretary of State for Finance and Treasury, Ottoniel dos Santos, highlighted the insurance sector's shift from a state monopoly to a competitive market, citing the 2024 Market Report as evidence of growth despite challenges. The report noted rising premiums, robust solvency ratios, and expanding protection, but also identified challenges like low insurance penetration, regulatory needs, and financial literacy barriers. ARSEG’s board chair, Filomena Airosa Manjata, emphasized the role of insurance and pension funds in economic stability and the focus on regulatory strengthening.
The Central Bank of the Republic of Türkiye and the Central Bank of the United Arab Emirates have signed a Turkish lira–UAE dirham currency swap agreement and two memorandums of understanding (MoUs) to enhance local-currency use in cross-border transactions and interlink payment systems. The swap, valued at TRY 198 billion and AED 18 billion, aims to provide liquidity for cross-border settlements. The MoUs establish frameworks for local-currency settlements and cooperation on cross-border payments, including integrating Türkiye’s FAST system with the UAE’s Aani platform.
The Central Bank of Latvia's autumn 2025 Payment radar shows non-cash payments made up 74% of transactions in August 2025, with cash usage rebounding to August 2023 levels. The report notes a decline in contactless card and smartphone payments, while instant payment usage rose. It also discusses efforts to enhance payment resilience and outlines the European Central Bank's timeline for new euro banknotes and Bulgaria's euro adoption plan.
The Central Bank of Latvia announced a new requirement effective 9 October 2025 for financial institutions to verify that a recipient's name matches the provided IBAN before payment initiation, applicable across Europe. This verification aims to reduce fraud and errors, allowing payers to proceed despite mismatches. The Central Bank of Latvia will offer its instant verification service to payment providers across Europe from 5 October 2025.
The Central Bank of Latvia's autumn 2025 "Payment radar" survey reports non-cash payments at 74% and cash at 26% of transactions in August 2025, marking a rebound in cash usage. The bank is working on offline card payments to ensure transaction continuity during disruptions and notes the potential support of a digital euro for offline use. Additionally, the European Central Bank is preparing a new series of euro banknotes, with Bulgaria set to adopt the euro on 1 January 2026.
The Central Bank of Peru released "Reactiva: Design and Results," analyzing the Reactiva Perú programme's design, implementation, and impact during the COVID-19 pandemic. The programme extended credit to over 501,000 companies, with micro and small firms comprising 96% of beneficiaries. Central Bank president Julio Velarde and other officials emphasized its success and the importance of coordination with the Ministry of Economy and Finance.
The Insurance Supervision Institute of Mozambique announced the first meeting of the National Financial Inclusion Committee (CNIF) for implementing Mozambique’s National Financial Inclusion Strategy 2025–2031. CNIF appointed coordinators for seven working groups, with Agnélio Jossias leading Working Group 4 on insurance promotion. CNIF aims to enhance financial inclusion, focusing on vulnerable groups and promoting digital financial services and fintechs.
Saudi Arabia's Finance Minister Mohammed Aljadaan led the Kingdom’s delegation at the 124th GCC Financial and Economic Cooperation Committee meeting in Kuwait, chaired by Dr. Subaih Al-Mukhaizeem. The focus was on financial and economic cooperation, the Customs Union Authority’s work programme, and the Gulf Common Market track. Additionally, GCC finance ministers and central bank governors met with IMF Managing Director Kristalina Georgieva to discuss enhancing resilience to global shocks.
Deputy Governor Colm Kincaid of the Central Bank of Ireland announced enhancements to consumer and investor protection through a new supervisory model and a modernised Consumer Protection Code set for early 2026. The agenda includes reviewing regulated firms' complaint handling, fraud prevention measures, and supporting the National Financial Literacy Strategy. Additional priorities involve improving capital market access and leveraging digital innovation via the Central Bank’s Innovation Hub and Sandbox.
The National Bank of the Republic of North Macedonia reported a continued rise in electronic payments for Q2 2025, with a 9% increase in payment orders and a 20.9% rise in value year-on-year. Digital channels saw an 18.6% increase in transactions and a 28.3% rise in value, with 71.3% executed via mobile apps. Card payments grew by 8.4% in number and 11.4% in value, driven by a 14.8% increase in online purchases.
The National Bank of Georgia marked the 30th anniversary of the lari as Georgia's sole legal tender, highlighting reduced foreign-currency use in deposits due to de-dollarization policies. Nearly half of all deposits are now in lari, with residents' lari-denominated deposits at 57%. The anniversary includes an international forum, the relaunch of the central bank's journal, commemorative coins and banknotes, and further events planned through year-end.
Governor Natia Turnava of the National Bank of Georgia addressed SIBOS, emphasizing Georgia's focus on financial services innovation and regional integration via the Middle Corridor. She highlighted initiatives to enhance financial infrastructure and Georgia's application to join the Single Euro Payments Area (SEPA) to improve EU payment efficiency and strengthen regional connectivity.
The NCUA announced the merger of 1st Choice Credit Union into Hope Federal Credit Union, effective immediately, with uninterrupted member services and deposits protected by the National Credit Union Share Insurance Fund. The merger follows NCUA's conservatorship of 1st Choice due to safety and soundness issues. At the time of the merger, 1st Choice had 7,637 members and USD 31 million in assets, while Hope Federal had 40,628 members and USD 739 million in assets.
The Securities and Exchange Commission of Pakistan (SECP) reaffirmed its commitment to a robust corporate restructuring regime for distressed entities. SECP urged Corporate Restructuring Companies to enhance stakeholder engagement and play a proactive role in business rehabilitation. Discussions with the Pakistan Banks’ Association emphasized better coordination among restructuring entities and financial institutions to improve non-performing loan restructuring and ensure financial stability.
Ireland's Department of Finance released the Consumer Sentiment Banking Survey 2025, showing increased satisfaction with financial providers at 89%, up from 86% in 2024, and rising fintech usage, particularly Revolut. Despite low switching rates across key products, the survey highlighted a steady preference for cash and a higher inclination towards contactless smartphone payments. Awareness of consumer support bodies also increased, with notable recognition of the Money Advice and Budgeting Service and the Competition and Consumer Protection Commission.
The Egmont Group said it joined the Egmont Centre of FIU Excellence and Leadership and the World Customs Organization in delivering a Bangkok workshop under the Financial Intelligence Compendium. The Sept. 23 to 26 program brought together 40 FIU and customs participants from Asia-Pacific and Eurasia to strengthen joint analysis and cooperation against money laundering, terrorist financing and trade-based threats. Further training installments are planned.
The Egmont Group said ECOFEL and the Saudi Arabia Financial Investigation Unit completed a regional workshop in Riyadh on information sharing among financial intelligence units, law enforcement authorities and prosecutors. More than 50 participants from the MENA region discussed inter-agency cooperation, management of financial intelligence and implementation of international AML/CFT standards.
Croatia's Ministry of Finance, in collaboration with the European Investment Bank, launched a FinTech policy dialogue platform to establish a national FinTech hub. The initiative aims to unite the FinTech ecosystem to identify challenges and propose solutions, with thematic working groups and active community participation. Within a year, the ministry plans to launch a FinTech hub providing incubation, regulatory support, and advisory services.
New Zealand's Department of Internal Affairs (DIA) has entered into an enforceable undertaking with Pagemark Limited and its director, David Halstead, for failing to meet obligations under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. Pagemark and Halstead agreed to cease activities under the Act, with Halstead resigning as director and refraining from similar roles. The DIA identified failures in risk assessments, AML/CFT compliance, and reporting obligations but noted no involvement in money laundering or terrorism financing.
The Hong Kong Securities and Futures Commission (SFC) suspended Joey Lo Wai Hon, a former senior manager at MTF Securities Limited, for four months due to inadequate credit risk management and failure to report suspicious trading patterns. MTF breached the SFC Code of Conduct and anti-money laundering requirements by granting excessive trading limits without proper due diligence. The SFC emphasized the seriousness of these failures and the need for deterrence, while noting Lo's cooperation and clean record.
Peru's Superintendency of Banking, Insurance and Pension Funds Administrators (SBS) announced the Peruvian Congress's approval of a report designating a national Financial Education Week, supported by SBS. The SBS will conduct workshops and launch a "Learn with SBS" section on its website, offering accessible financial resources. Ongoing programs "Finanzas en el Cole" and "Finanzas Para Ti" continue to expand financial literacy nationwide.
The Australian Prudential Regulation Authority (APRA) has released its Annual Report for the 2024–25 financial year.
The Bank of France, the French Prudential Supervision and Resolution Authority, and the French Financial Markets Authority have launched a joint exploratory stress test with over 25 French financial institutions to examine interconnections and potential destabilization under severe market stress. The scenario exceeds the worst two-week market stress in the past 20 years, with participants evaluating impacts and liquidity management responses. A joint synthesis report will follow, with the exercise being voluntary and not affecting individual supervision.
The Hong Kong Monetary Authority and the Hong Kong Science and Technology Parks Corporation have launched the IADS Developer Hackathon to advance the Interbank Account Data Sharing initiative. Running from October 2025 to March 2026, it aims to develop secure, customer-consented data-sharing solutions for banks, with global participation from banks and fintech firms. Finalists will present at the IADS Developer Conference, with opportunities for business expansion and investor engagement.
The Reserve Bank of Australia's October 2025 Financial Stability Review concludes that Australia's financial system is resilient amid global uncertainties, with key risks from high government debt, asset valuations, and geopolitical tensions abroad. Domestically, households and businesses have built financial buffers, and banks maintain strong capital and liquidity, underscoring the importance of prudent lending and operational resilience.
The Cyprus Securities and Exchange Commission announced that the Administrative Court annulled its 2018 decision to impose fines on four officials of Orphanides Public Company Ltd due to a defective composition of the Commission. The annulled sanctions were related to alleged breaches of transparency laws concerning misleading information in the company's 2012 interim financial report.
The Basel Committee on Banking Supervision approved the end-2024 assessment results for global systemically important banks (G-SIBs) and agreed to rename a compliance grade in its Regulatory Consistency Assessment Programme. The Committee finalized a technical amendment on hedging counterparty credit risk exposures and reviewed a report with the International Organization of Securities Commissions, finding no significant issues with the non-centrally cleared derivatives margin framework.