Honduras' National Banking and Insurance Commission has appointed Maria Betsabe Franco Maradiaga as interim Superintendent of Pensions and Securities, effective 3 September 2025. The appointment was formalized through Resolution GAD No.578/28-08-2025.
The Egypt Financial Regulatory Authority (FRA) concluded its World Computer Hacker League hackathon, selecting 16 Egyptian projects for African qualifiers and awarding prizes to the top three teams. Organized with Mercatura Forum, ICP Hub Egypt, and DFINITY, it focused on tokenised financial products, real-world asset platforms, and decentralized AI applications. FRA highlighted the hackathon as a pathway for innovators to test ideas within the FRA Sandbox, aligning with regulatory requirements.
The Bank of Mauritius clarified its request for proposals for a Threat Intelligence Sharing Platform, including delivery, maintenance, and integration of threat intelligence feeds. Initially covering 19 commercial banks and scaling to 60 entities by Year 3, the platform must support interoperability with security tools and comply with the Mauritius Data Protection Act 2017 and GDPR. Bidders must provide an implementation plan, with service expectations including intelligence support and training.
The Bank of Mauritius has extended the deadline for its tender to supply and implement a Threat Intelligence Sharing Platform for the banking sector from 12 September 2025 to 19 September 2025.
The CFTC and SEC issued a joint statement clarifying that SEC- and CFTC-registered exchanges can facilitate trading of certain spot crypto asset products. This initiative, part of the SEC’s Project Crypto and the CFTC’s Crypto Sprint, aims to enhance trading venue choice and aligns with recommendations from the President’s Working Group on Digital Asset Markets report. The agencies encourage market participants to engage with their staff for further discussion.
The Norwegian Financial Supervisory Authority noted that some real estate brokerage firms received a reminder despite submitting the KRT-1012 report for H1 2025. Firms with an Altinn receipt confirming submission after 19 August can disregard the reminder as the authority addresses the issue.
The SEC and CFTC launched a joint initiative under SEC Project Crypto and CFTC Crypto Sprint to facilitate trading of certain spot crypto asset products. The staff statement clarifies that existing law doesn't prohibit SEC- or CFTC-registered exchanges from trading in leveraged, margined, or financed spot retail commodity transactions on digital assets. The initiative outlines operational considerations for market participants, including margin, clearing, settlement, and market surveillance, while inviting engagement with SEC or CFTC staff for registrations or relief requests.
The Office of the Comptroller of the Currency released Community Reinvestment Act performance evaluations for 11 institutions, with Esquire Bank, N.A. and Chain Bridge Bank, N.A. receiving "outstanding" ratings. The other institutions were rated "satisfactory." The OCC also maintains a searchable list of CRA evaluations and upcoming compliance examinations on its website.
The Argentina Securities Commission (CNV) has approved a new framework for public offerings, allowing automatic authorisation for open-ended mutual funds (FCI) after initial approval. Subsequent FCIs can be automatically authorised if they meet criteria, including being established by the same management company and maintaining the same name and investment policy. Effective 15 September 2025, the framework also introduces an automatic addendum process for amendments that do not alter key fund characteristics.
The Securities and Exchange Board of India and the Investor Education and Protection Fund Authority held the second "Niveshak Shivir" in Hyderabad to assist investors in reclaiming unpaid dividends and unclaimed shares. Supported by Market Infrastructure Institutions and Registrar and Transfer Agents, the event provided end-to-end support for over 300 participants, including KYC updates and claim processing. SEBI and IEPFA plan similar events in other cities with significant unclaimed investor assets.
The Namibia Financial Institutions Supervisory Authority released the Namibia Financial Sector Transformation Strategy 2025–2035, outlining a roadmap to enhance financial markets, digital transformation, and consumer protection. It targets a 95% national financial inclusion rate, 85% financial literacy, and significant increases in digital transactions and market development by 2035. Implementation will be coordinated by the Ministry of Finance, with oversight from the Financial Sector Council Advisory Body.
The White House submitted nominations to the Senate, including Stephen Miran for the Board of Governors of the Federal Reserve System for a term starting February 1, 2012. The submission also covered various US diplomatic and judicial appointments.
The National Bank of Denmark reported a DKK 1.9 billion decrease in the foreign-exchange reserve in August 2025, due to a DKK 1.7 billion net sale of foreign exchange and a DKK 0.2 billion net repayment of foreign debt. From January to August 2025, the reserve increased by DKK 24.2 billion, driven by net foreign-exchange purchases and central government borrowing. The central government had a net financing requirement of DKK -19.1 billion in August, with banks' net position falling by DKK 18.5 billion, while key policy rates remained unchanged since June 2025.
National Bank of Moldova Governor Anca Dragu delivered a financial education lesson at the Republican Theoretical Lyceum “Aristotel,” focusing on Moldova’s accession to the Single Euro Payments Area and cashless payments. The session included discussions on MIA Instant Payments, European integration, and economic development, with students participating in a Q&A. The event featured a demonstration of a student-developed interactive study table and concluded with Dragu receiving an honorary citizen title and a commemorative coin.
The Single Resolution Board (SRB) detailed its management of the Single Resolution Fund (SRF), emphasizing asset security and liquidity for rapid deployment. The SRF, with about €80 billion from over 3,000 banks, is invested in cash deposits, highly rated EU sovereign bonds, and other liquid assets. The SRB adheres to EU rules prioritizing security and liquidity, while monitoring market conditions and managing the portfolio discreetly.
The Palestine Monetary Authority released its PMA Business Cycle Index for August 2025, showing worsening economic conditions in the West Bank and ongoing stagnation in the Gaza Strip.
The Angola Capital Markets Commission has approved the registration of Jucélia Gabriel as an individual investment consultant, authorizing her to offer securities investment advisory services under its supervision.
The Central Bank of Nicaragua's Q2 2025 report shows significant growth in payment systems, with transaction volumes and values rising across SINPE, SIPA, and UNIRED. Total transactions reached 2.9 million, valued at NIO 665,347.0 million, marking a 50.5% increase in volume and 33.1% in value year-on-year. Payment instruments and infrastructure usage also surged, with notable increases in e-money accounts and digital wallet users.
The Central Bank of the Republic of Kosovo reported a current account deficit of EUR 803.01 million by end-June 2025, an 18.78% increase from the previous year, driven by a larger goods trade deficit. The goods trade deficit reached EUR 2.67 billion, with exports down 1.29% and imports up 16.08%. Foreign direct investment in Kosovo rose by 5.28% to EUR 441.26 million, while direct investment abroad increased by 55.23% to EUR 166.59 million.
The Central Bank of the Dominican Republic, with the IMF's Article IV mission, reported a 2.9% year-on-year growth in July and 2.4% for January–July 2025. The bank projects 3.0% growth in 2025 and 4.0% to 5.0% in 2026, with foreign direct investment exceeding USD 4.8 billion. Despite external uncertainties, inflation remains near target due to the inflation-targeting framework, and liquidity-expansion measures are lowering interbank interest rates.
The Insurance Supervision Agency of Montenegro has released a notice and application form for the professional exam necessary for insurance mediation and representation activities. Details on the exam's date, time, and venue will be announced on the Agency's website.
The Danish Financial Supervisory Authority's review of EU taxonomy reporting by 20 financial firms for 2024 shows a slight increase in environmentally sustainable activities and improved compliance with reporting templates. However, significant shortcomings in qualitative disclosures were identified, with insurers' sustainable insurance activities notably declining due to a methodology change. The review remains relevant despite upcoming European Commission amendments to simplify taxonomy reporting.
The Central Bank of Colombia issued Bulletin 32 of 2025, certifying per gram prices for gold, silver, and platinum for September 2025, in accordance with legal provisions for royalty settlements. The bulletin specifies that LBMA Gold and Silver Price benchmarks, administered by Intercontinental Exchange Benchmark Administration, are used for average calculations in royalty liquidation, with disclaimers on trademark use and liability.
The Angola Capital Markets Commission has approved the registration of Valter Manuel Gomes as an investment consultant and financial analyst. He is authorized to conduct investment consultancy and financial analysis on securities under the Commission's supervision.
The Kuwait Capital Markets Authority's latest quarterly electronic magazine focuses on capital market development and investor education. Key projects include the second part of the third phase of the Capital Market System Development Program, a startup market on the stock exchange, and registration of securities-based crowdfunding platforms. It also discusses diversification of investment instruments, qualitative listings, and various market concepts and protections.
The Italian Securities Commission (Consob) announced the opening of applications for Financial Education Month 2025, accepting proposals from 1 September to 17 October 2025. The event will feature a nationwide programme of free seminars and workshops aimed at enhancing financial, insurance, and pension skills. Eligible participants include associations, institutions, and other organisations meeting the Edufin Committee’s criteria.
The National Bank of Ukraine's August Business Outlook Survey indicates cautious but improved economic performance expectations among firms, with the composite business activity expectations index rising to 49.0. Positive sentiment was driven by consumer demand and energy stability, while challenges included infrastructure destruction and rising costs. Construction showed the strongest outlook, while services remained the most cautious.
The Angola Insurance Authority (ARSEG) released its report on complaint management for the first half of 2025.
The Angola Insurance Authority (ARSEG) released its report on supervisory sanctioning activity for the first half of 2025.
Peru's Superintendency of the Securities Market (SMV) announced the 27th Securities Market Specialisation Programme (PEMV), with applications open from 1 September to 26 October 2025. The programme targets Peruvian university students nearing graduation and recent graduates, offering comprehensive insights into the securities market, including offerings, funds, regulation, and governance.
The European Systemic Risk Board (ESRB) released the EU Non-bank Financial Intermediation Risk Monitor 2025, highlighting key cyclical and structural risks. The report identifies leverage, liquidity mismatches, and interconnectedness as primary vulnerabilities, with high leverage noted in UCITS marketed to retail investors. It warns that geopolitical tensions and tighter financial conditions could exacerbate credit and market risks, particularly for entities involved in liquidity transformation and those with concentrated exposures.
The Australian Securities & Investments Commission announced that the Federal Court imposed AUD 2.8 million in penalties on Open4Sale Global Ltd's managing director Simeon La Barrie and director Ewald Hafer for fundraising without compliant disclosure documentation. They raised over AUD 1.3 million from 83 investors without proper disclosure, misleading them with unverified revenue claims. Mr. La Barrie was fined AUD 2 million and disqualified from managing corporations for 12 years, and Mr. Hafer was fined AUD 800,000 and disqualified for eight years.
The Australian Securities & Investments Commission (ASIC) has permanently banned Brett Paul Trevillian from financial services and credit activities after his serious fraud conviction. As AlphaThorn Pty Ltd's investment manager, he forged performance reports to solicit investments. Effective 18 August 2025, the ban also prohibits him from controlling or performing any function in a financial services business under ASIC's authority.
The Australian Securities & Investments Commission (ASIC) announced the conviction of Jye Dilin Menzies-Clifton, director of Strong and Co Australia Pty Ltd, for authorising a false statement in a document lodged with ASIC. Menzies-Clifton pleaded guilty to submitting a deregistration form falsely declaring no outstanding liabilities, while the company owed AUD 58,186.55 to the Australian Taxation Office and AUD 14,190 in lease debts. He was convicted on 29 August 2025 and released on a 12-month good behaviour bond.
The Australian Securities & Investments Commission (ASIC) banned former United Global Capital Pty Ltd adviser Milutin Petrovic for six years for failing key advice obligations, including not acting in clients' best interests. Petrovic advised clients to invest retirement savings into Global Capital Property Fund Limited, now in liquidation. The ban, effective from 15 January 2025, was temporarily stayed but resumed on 26 March 2025; Petrovic's appeal to the Administrative Review Tribunal is pending.
The Central Bank of Algeria, in collaboration with the Association of Banks and Financial Institutions, conducted a training day to enhance management of financial crime-related risks. The session focused on a risk-based approach to anti-money laundering, counter-terrorist financing, and the financing of weapons proliferation. This event is part of a broader training series for financial institutions in Algeria.
The New Zealand Financial Markets Authority released a thematic review insights report on the implementation of NZ IFRS 17 Insurance Contracts by New Zealand insurers, highlighting transition approaches, measurement models, and areas for improvement. The report aims to assist financial statement preparers, audit committees, and auditors in adapting to the new standard effective from 1 January 2023.
The Mauritius Financial Services Commission (FSC) is seeking a local consultant to conduct a corporate governance assessment of the FSC. The invitation for bids is open to Mauritian nationals or entities incorporated in Mauritius, with submissions to be made through the Government eProcurement System.
The Ukraine National Commission on Securities and Stock Market approved a pilot project to merge five funds into a single pooled investment fund, INZHUR REIT, to promote investment opportunities. Investors can redeem their investment certificates until April 2026 or exchange them for INZHUR REIT certificates. The project aims to diversify risk and develop new investor-protection mechanisms for potential legislative integration.
China's Ministry of Finance and three national agencies issued a notice to standardize IP asset valuation, emphasizing professional conduct and enhanced supervision. Valuation firms must maintain independence, apply risk controls, and use advanced tools like AI for "intelligent" models, especially in IP pledge financing. Agency coordination will enhance data transparency and scrutiny, with the China Appraisal Society improving self-regulation and training.
The Central Bank of Costa Rica clarified that SINPE Móvil operates without restrictions and does not entail tax payments for users. From September 2025, commercial entities must include a specific code in electronic receipts to identify SINPE Móvil payments, as required by the Ministry of Finance. This change affects only commercial establishments with tax obligations, not consumers.
The Securities and Exchange Commission of Pakistan and the Asian Development Bank held a session in Karachi on the We-Finance Code to promote gender-sensitive financial products for women's inclusion. Stakeholders discussed the Code's objectives, integration into current offerings, and public-private partnerships to enhance access for women, especially in flood-affected areas. The ADB emphasized combining insurance and savings with lending solutions for financial protection and credit access.
The Securities and Exchange Commission of Pakistan mandates Shariah-compliant investors to trade through Shariah-compliant brokers, aligning with the constitutional mandate to eliminate riba. Entities must adopt internal policies by December 31, 2025, and increase Shariah-compliant trading. The Pakistan Stock Exchange and Central Depository Company will develop supportive mechanisms and raise market awareness.
People's Bank of China Governor Pan Gongsheng and Pakistani Finance Minister Muhammad Aurangzeb discussed China-Pakistan financial cooperation during a recent meeting.
Latvia's Ministry of Finance proposes amendments to strengthen anti-money laundering, focusing on financial intelligence, supervision, and risk reduction in crypto-asset services and currency exchange. Measures include allowing currency exchange firms to set lower customer due diligence thresholds and imposing stricter requirements on crypto-asset service providers. The amendments enhance data exchange with the Financial Intelligence Unit and clarify access to beneficial ownership information.
The National Bank of Ukraine's 2025 resilience assessment confirms the banking sector's overall resilience and capitalization, with most banks able to withstand a severe crisis. However, some banks need to enhance resilience through higher capital adequacy ratios following stress testing. The assessment involved an asset quality review and stress testing of major banks, revealing minor credit-risk adjustments and specific capital requirements under baseline and adverse scenarios.
The Luxembourg Commission for the Supervision of the Financial Sector reported that total net assets of undertakings for collective investment rose to EUR 5,906.147 billion as of 31 July 2025, up from EUR 5,787.186 billion the previous month. This increase was driven by net capital investments and a positive financial market effect. The number of UCIs decreased slightly, while equity UCIs saw net inflows primarily from European and Eastern European equities, and fixed income UCIs posted positive returns except for USD money market and USD-denominated bonds.
The Bank of Portugal reported that general government debt on a Maastricht basis increased by EUR 1.0bn to EUR 288.0bn in July 2025. After accounting for public administrations’ deposit assets, the debt rose by EUR 0.4bn to EUR 259.2bn. The increase was driven by higher debt securities and savings certificates, partially offset by a decrease in Treasury certificates.
The Portuguese Insurance Regulator (ASF) supported the Association of Lusophone Insurance Supervisors (ASEL) in producing the 2023 Insurance and Pension Funds Sector Bulletin. Edited by the Monetary Authority of Macau, it highlights a total insurance premium income of USD 57.3 billion across Portuguese-speaking markets, with significant growth in non-life and life premiums. It also reports a 19.6% increase in pension fund assets under management and a 7.5% rise in the number of insurance agents.
Greece's Ministry of National Economy and Finance defended the National Recovery and Resilience Plan "Greece 2.0," emphasizing its alignment with EU objectives. The statement noted EUR 36bn secured from the EU Recovery and Resilience Facility, with EUR 21.3bn disbursed, ranking Greece eighth in the EU for disbursements. It reported progress in project milestones and funding, including EUR 10.63bn in grant-funded payments and support for SMEs through approved grants and loans.
The Australian Financial Complaints Authority has concluded its consultation on the Approach to general insurance claims handling and is reviewing feedback to finalize its response, with plans to publish a Consultation Response Paper and updated Approach document soon.
The Gibraltar Financial Services Commission released feedback from a thematic review of product governance in the insurance sector. The review aims to assist firms in enhancing governance frameworks to ensure products provide fair value and positive outcomes for customers.
Martin Kocher has assumed office as governor of the Austrian National Bank (OeNB) as of 1 September 2025, succeeding Robert Holzmann. The OeNB Executive Board, now at full strength, includes Deputy Governor Edeltraud Stiftinger, Director Thomas Steiner, and Director Josef Meichenitsch. Kocher previously served as Austria’s Federal Minister of Labour and Economy and held various academic and advisory roles.
GAFILAT conducted its fifth unannounced simulation in Montevideo to assess Uruguay's ability to implement financial sanctions per UN Security Council sanctions lists and FATF Recommendations 6 and 7. The exercise involved Uruguay's CFT/CFP system and various sectors, identifying strengths and areas for improvement. Feedback from the drill aims to enhance readiness for actual scenarios.
The International Association of Insurance Supervisors (IAIS) relaunched its Insurance Core Principles Self-Assessment Tool and updated the register of Internationally Active Insurance Groups. The IAIS newsletter highlighted priorities in financial stability monitoring and outlined the agenda for its Annual Conference in Tirana, Albania, in November 2025. The IAIS plans to publish a final Issues Paper on life insurance sector shifts by end-2025 and finalize updates to the insurer monitoring assessment methodology for the 2026–2028 cycle.
The Cyprus Securities and Exchange Commission (CySEC) has launched an online quiz to help investors identify investment fraud, focusing on deceptive online ads and misleading social media posts. This initiative is part of CySEC's broader financial education efforts and aligns with World Investor Week, addressing various scam typologies. CySEC also plans an awareness campaign and will share the quiz with universities, domestic institutions, and European authorities.
The Isle of Man Financial Services Authority reported a decrease in deposits held by Isle of Man licensed deposit takers, falling by GBP 0.39 billion (-0.91%) to GBP 42.63 billion from 31 March to 30 June 2025. Year-on-year, deposits declined by GBP 0.76 billion (-1.75%) as of 30 June 2025. Foreign currency deposits, mainly in US dollars and euro, accounted for 46.24% of total deposits, with exchange rate movements having minimal impact on the quarterly change.
The Bank for International Settlements released an FSI Occasional Paper on the challenges of limited explainability in complex AI models used by financial institutions. It highlights difficulties in meeting model risk management expectations as AI advances and suggests adjustments like use-case-based explainability standards and enhanced validation. The paper also discusses the need for supervisors to upskill to evaluate firms' explainability submissions.
The Bank for International Settlements released a paper on firm responses to the Federal Reserve's quantitative easing and tightening. Firms adjust debt maturity structures, reduce interest expenses, and accumulate cash, mainly through corporate bond markets. Effects vary by credit quality and maturity, with investment-grade firms increasing bond issuance and R&D spending, while non-investment-grade firms show weaker bond price responses.
Mexico's CONDUSEF reported a 13.4% increase in complaints in Baja California for January–July 2025, totaling 4,576 and representing 3.0% of nationwide complaints. The amount claimed was MXN 180 million, while MXN 72 million was recovered, marking a 112% increase. Credit cards, special credit reports, and debit cards were the primary sources of complaints, with multiple banking generating 53.4% of complaints, largely due to potential fraud.
GIABA’s 2024 annual report says West Africa’s AML/CFT/CPF framework improved as the body brought its second mutual evaluation round to about 95 percent completion, reviewed 14 follow-up reports and oversaw 40 FATF recommendation upgrades. Senegal exited FATF increased monitoring, while Côte d’Ivoire joined Burkina Faso, Mali and Nigeria on the grey list. GIABA is preparing a more risk-based third round of evaluations starting in 2026 with Ghana.
The Inter Governmental Action Group against Money Laundering in West Africa will hold a 15 to 16 September 2025 seminar in Lomé for the ECOWAS Administrative and Finance Committee on AML/CFT/PF compliance. The event is intended to strengthen the committee’s understanding of GIABA’s mandate and funding needs and to build support for higher GIABA financing in the 2026 budget cycle. GIABA said recent revenue declines, contribution arrears and budget cuts have constrained its activities.
The Bank of Ghana's Bancassurance Directive, 2025, sets a governance and consumer protection framework for banks distributing insurance products. It mandates the Distribution Partnership Model, requiring prior approval and a corporate agent licence, while prohibiting risk sharing, product design, and co-branding by RFIs. Compliance includes capital adequacy thresholds, liquidity requirements, and ongoing obligations like premium remittance and financial disclosures, with penalties for non-compliance.
The Central Bank of Kuwait's innovation hub, Wolooj, has launched applications for its "Innovation" Initiative Accelerator Program, running from 1 September to 1 October 2025, to foster Kuwaiti talent in developing solutions for regulatory, cybersecurity, supervisory, or financial sector challenges. Participants will address specific problem statements, develop research-backed solutions, and collaborate with Central Bank experts and mentors.
The Bank of Ghana has issued a final Large Exposures Directive for banks and financial institutions to limit concentration risk and align with Basel Committee standards. The directive defines large exposures and sets caps on non-exempt exposures, with specific limits for related-party exposures and aggregate exposures. Institutions must submit compliance plans by 31 December 2025, with full implementation required by 1 January 2027.
The Bank of Ghana has issued final Guidelines on managing and measuring Credit Concentration Risk for banks and financial institutions. The framework mandates governance, measurement, limit-setting, and reporting arrangements, incorporating it into the Internal Capital Adequacy Assessment Process (ICAAP) and Pillar II assessments. It includes board responsibilities, stress testing, and measurement approaches like the Herfindahl–Hirschman Index, with supervisory powers to enforce risk management enhancements or additional capital requirements.
The Central Bank of the Republic of San Marino has initiated a public consultation on draft regulations to update its SEPA payment-transaction framework, focusing on outgoing instant credit transfers in euro. The proposal includes setting daily and per-transaction caps and aligning the timeline for payee verification service implementation with a deadline of 9 July 2027. The regulation would take effect on 30 September 2025, allowing PSPs to offer instant euro transfers without payee verification until 2027, provided users acknowledge its absence.
The Jordan Securities Commission has revised its Principles of Dealing with Dormant Accounts for Broker Financial Clients, amending Article 3 to define a client account as stagnant if inactive for three years unless updated in the Center’s database. These changes, approved on 13 August 2025, are effective from 1 September 2025.
The Bank of Israel has initiated the recruitment process for a new Director General, with a search committee led by Deputy Governor Andrew Abir. The position requires a bachelor's degree and eight years of senior management experience, with applications due by September 15, 2025.
The Central Bank of Bosnia and Herzegovina has joined the Operational Security Situational Awareness Teleconference (OSSAT) as a regular member, enhancing its access to international digital security information exchange. OSSAT, established by the European Central Bank, connects central banks and international financial institutions to share insights on cyber security events and operational risks in the financial sector.
The National Bank of the Republic of Tajikistan’s Financial Monitoring Department held a seminar on anti-money laundering, countering terrorism financing, and countering weapons proliferation financing for domestic credit institutions and central bank staff. It aimed to enhance technical capacity for Tajikistan’s AML/CFT/CPF system evaluation, covering the national framework, Financial Action Task Force standards, and customer due diligence. Similar events are planned in other regions.
The National Bank of the Republic of Tajikistan has announced a tender for selecting an external audit firm to audit its consolidated financial statements for 2025–2029. The tender is restricted to ten internationally recognized audit firms, with details on services and conditions provided in an annex to the notice.
The Central Bank of Liberia said during a meeting with the US Embassy that it is advancing plans to diversify reserves into gold and reiterated that its operations will remain independent. The bank is benchmarking gold reserve practices in Ghana and Dubai, while the United States said US Treasury technical assistance to the central bank will resume with a September visit.
The Bank of Spain released the official reference interest rates for variable-rate mortgage lending in August 2025, with the one-year Euribor at 2.114%, up from July's 2.079% but 1.052 percentage points lower than the previous year. Additional rates include the five-year interest rate swap at 2.336% and various €STR-based rates. The one-year Mibor, though removed from the official list, remains applicable for pre-2000 operations and will continue to be published monthly.
The Central Bank of Iraq has initiated the Samuel Campaign under the National Strategy for Financial Inclusion (2025–2029) to enhance financial literacy and promote account-based and electronic payments. The campaign, involving over 50 banks and 15 electronic payment companies, offers free bank account openings and POS machine distribution in key commercial areas of Baghdad for one month.
The International Organization of Securities Commissions (IOSCO) released a consultation paper on the global sustainable bond market, detailing product characteristics, market trends, and key risks. It proposes non-prescriptive "key considerations" to help regulators address risks specific to sustainable bonds, such as greenwashing and inconsistent terminology. The paper highlights the need for improved regulatory clarity, enhanced transparency, and credible external reviews, noting that sustainable bonds accounted for 14% of private-sector bond issuance in 2024.
At the ECB Legal Conference, President Christine Lagarde discussed Europe's autonomy within multilateral cooperation, using central bank independence as an example. She emphasized that autonomy is exercised through EU institutions and international legal commitments, supporting monetary policy credibility and protected by EU treaty law.
The European Central Bank's research shows that high economic uncertainty weakens monetary policy transmission in the euro area, affecting inflation and unemployment. Using euro area industrial production as a proxy for uncertainty, the study finds that a surprise 100-basis point drop in the three-month overnight index swap rate has less impact under high uncertainty. This suggests more forceful policy actions may be needed in such environments to achieve intended economic effects.
The South African Reserve Bank has updated its Quarterly Bulletin by replacing the debenture rate columns in table KB130 with alternative market rate series. This change follows the suspension of debenture issuance due to the shift from a shortage-based to a surplus-based monetary policy framework. The new columns include the 9-month Johannesburg Interbank Average Rate, the 1x4 forward rate agreement, and the 364-day Treasury bill rate.
The Superintendency of Banks of the Dominican Republic held a workshop for staff handling User Service at financial institutions to improve customer interactions and complaint handling. This follows the SB's first Instruction on User Protection, effective November 2024. The SB is also developing a revised Regulation on the Protection of Users of Financial Products and Services, currently under public consultation by the Monetary Board.
The New Zealand Financial Markets Authority released a thematic review report on the implementation of New Zealand's equivalent of International Financial Reporting Standard 17 Insurance Contracts (NZ IFRS 17), applicable from 1 January 2023. The report provides insights on implementation practices, highlights areas for improvement, and outlines the FMA's future focus.
The Central Bank of Turkmenistan released a summary of an online Cabinet of Ministers meeting led by President Serdar Berdimuhamedov, highlighting an 8-month GDP growth of 6.3% in 2025 and various sectoral growth rates. The report noted a 9.9% increase in total production volume, a 13.1% rise in retail turnover, and a 5.5% increase in foreign trade turnover compared to the same period in 2024. Additionally, the Mejlis adopted 15 legal acts, including amendments to tax and customs laws.
The Italian Institute for Insurance Supervision (IVASS) warned about a counterfeit surety bond falsely attributed to Swiss Re International S.E. IVASS stressed verifying insurance quotes and contracts via its online registers. Swiss Re International S.E., a Luxembourg-based insurer, is authorized in Italy under Luxembourg’s Commissariat aux Assurances.
The Central Bank of Estonia's analysis of revised Statistics Estonia data shows wage growth slowing to 5.9% in Q2, with the public sector experiencing the sharpest deceleration. Unemployment was 7.8% in Q2, with employment declining, though signs of stabilisation are emerging. The report attributes wage growth moderation to the prolonged recession and sluggish recovery, expecting economic growth to outpace wage growth as recovery progresses.
The Brazil Securities Commission (CVM) summarized its August activities, highlighting Resolution CVM 234 on market participant registration, the launch of the Sustainable Finance Action Plan for 2025-2026, and the first Real Estate Sector Bulletin. The update includes public consultations, cooperation agreements, and enforcement actions, such as fines totaling BRL 32.6 million for violations. Additionally, CVM announced project selections for the LEAP cycle and addressed the temporary unavailability of the Electronic Information System (SEI).
Brazil’s Securities Commission (CVM) will hold a public judgment session on 2 September to address alleged audit irregularities by KPMG Auditores Independentes Ltda and João Alberto Dias Panceri concerning Copel’s financial statements. Led by Director João Accioly, the session will occur at CVM’s headquarters in Rio de Janeiro, with videoconference access available. If the accused do not participate, the session will be restricted and conducted via electronic voting.
The Central Bank of the Republic of Azerbaijan will conduct a mobile citizen reception in Ismayilli city on 3 September to enhance consumer and investor rights protection. The event will address enquiries and complaints from residents of Ismayilli, Agsu, Gobustan, and Shamakhi districts, with additional support available through the Central Bank's hotline and WhatsApp channel.
The Central Bank of the Republic of Azerbaijan revoked the licences of “Finoko” Non-bank Credit Organisation OJSC and “Icraçı Kredit Agentliyi” LLC for failing to meet the minimum capital requirement and ignoring supervisory instructions. This action aligns with amendments to the Law on Non-bank Credit Organisations and the Central Bank’s 2024–2026 Financial Sector Development Strategy, mandating a minimum capital of AZN 1 million. The Central Bank will continue enforcing compliance with regulatory requirements, including capital rules.
The Albania Financial Services Authority released its market update for private pension funds, noting total net assets of ALL 13,889.85 million (EUR 142 million) and 48,241 members as of 30 June 2025. Net assets grew by 7.92% and membership increased by 7.38% since 31 December 2024. Eight private pension funds operated in the first half of 2025, with SIGAL MAX PENSION, CREDINS PENSION, and RAIFFEISEN leading in net assets and membership.
The Albania Financial Services Authority held a roundtable to discuss aligning Albania’s legal framework with the EU’s market infrastructure regulation and developing a derivatives market. Executive General Director Mimoza Kaçi highlighted the absence of a derivatives market in Albania and its importance for risk management and financial stability amid EU integration efforts. Participants included representatives from the Authority, the Bank of Albania, market participants, and experts.
The Croatian Financial Services Supervisory Agency and the Securities Commission of the Federation of Bosnia and Herzegovina signed a cooperation agreement expanding their collaboration to include pension funds. The agreement facilitates technical cooperation and information exchange, aiding KVP's adaptation to European standards. This extends their relationship, initially focused on capital markets since 2004.
The Croatian Financial Services Supervisory Agency hosted a conference in Dubrovnik on "Capital Markets in the Digital Age," focusing on digitalisation's impact on markets and supervision. Hanfa President Ante Žigman advocated for "smarter regulation" to maintain stability and confidence, emphasizing AI's role in trading and risk analysis. Discussions included regulatory harmonisation, AI-related priorities, and challenges in tokenising traditional assets.
The Thailand SEC imposed civil sanctions on Mr. Peerapong Jirasevijinda for misleading trading practices involving JMT Network Services Public Company Limited. Sanctions include a payment of THB 704,187, a seven-month trading ban, and a 14-month prohibition from senior roles in securities firms. The SEC found Mr. Jirasevijinda placed large sell orders to test the market without executing transactions, violating Section 244/3(1) of the Securities and Exchange Act B.E. 2535 (1992).
The Thailand Securities and Exchange Commission has mandated C.I. Group Public Company Limited to disclose further details on its acquisition of Ocean Wolf PTE. LTD. shares and related share issuance. The SEC identified missing information in C.I. Group's disclosures, including investment rationale, valuation assumptions, and director voting details, and required submission by 4 September 2025.
The Central Bank of Nigeria's July 2025 Household Expectations Survey shows persistent negative consumer sentiment at -12.7 index points, with a pessimistic view of economic conditions. However, household finances and income sentiment improved, and a more positive macroeconomic outlook is anticipated over longer horizons. Price sentiment improved, though respondents still expect a slight increase in average prices in the coming months.
The Central Bank of Nigeria's July 2025 Inflation Expectations Survey Report shows a decline in the perception of high inflation, with 66.2% of respondents viewing it as high, down from 71.0% in June. Energy costs, exchange rates, and transportation are identified as key inflation drivers. Most respondents expect inflation to remain stable in the short term, while a decrease is anticipated over six months.
The Central Bank of Nigeria's July 2025 Purchasing Managers’ Index report shows economic activity expanded for the eighth consecutive month, with a composite PMI of 52.7. Growth was noted across industry, services, and agriculture, with 26 of 36 subsectors expanding. Key components such as output, new orders, and employment also saw expansion, while suppliers’ delivery time improved.
HM Treasury released a revised memorandum with the Bank of England and the Prudential Regulation Authority on resolution planning and crisis management under key financial acts. The MoU outlines the Bank's primary role in crisis management, while HM Treasury retains authority over public fund decisions. It specifies information-sharing, coordination during crises, and communication protocols with Parliament and the public.
The Central Bank of Russia's Q2 2025 review highlights accelerated retail inflows into brokerage accounts, raising retail investors' assets to RUB 11 trillion. Retail portfolios shifted towards fixed income, with bonds comprising 35% of holdings, while Russian shares fell to 28%. The number of clients with accounts exceeding RUB 10,000 rose to 5.1 million.
The Central Bank of Russia has introduced a new regime for administrators of financial and commodity indices, effective 1 September 2025, to enhance confidence in index information. The framework allows voluntary registration, but only registered indices can be referenced in regulations by government authorities and the Central Bank.