Central Bank of Cyprus publishes consolidated balance sheet statement as at 31 March 2025
The Central Bank of Cyprus released its consolidated balance sheet statement as of 31 March 2025.
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Central Bank of Cyprus publishes consolidated balance sheet as at 30 April 2025
The Central Bank of Cyprus released its consolidated balance sheet statement as of 30 April 2025.
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Central Bank of Cyprus publishes revised 2024 financial soundness indicators for the Cypriot banking sector
The Central Bank of Cyprus released updated 2024 financial soundness indicators, highlighting improved capital adequacy, leverage ratios, excess liquidity, and positive profitability in the banking sector. Despite strengthened asset quality, non-performing loans remain significant, with the non-performing exposure ratio above the EU average. Profitability was driven by net interest income, while operating expenses increased due to higher personnel costs.
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Montenegro Capital Market Authority president participates in IOSCO 50th annual meeting in Doha including crypto-asset frameworks workshop
Montenegro Capital Market Authority President Željko Drinčić attended the IOSCO 50th annual meeting in Doha, engaging in committee sessions and workshops on crypto asset regulatory frameworks. He participated in meetings with IOSCO's European Regional Committee and Growth and Emerging Markets Committee, and attended the Qatar Financial Markets Authority conference on digital transformation, sustainable finance, and investor protection.
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Spanish Securities Commission reports women exceed 41% of IBEX 35 board seats in 2024
The Spanish Securities Commission (CNMV) reported women held 36.58% of board seats in Spanish listed companies at the end of 2024, with IBEX 35 companies surpassing the 40% benchmark. Fifty-five of 114 listed companies met or exceeded 40% female board representation, and women accounted for 54.11% of independent directors. Organic Law 2/2024 mandates companies with the largest market capitalisation achieve at least 40% representation of the less represented sex on boards by June 2026, extending to all listed companies by June 2027.
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Australian Securities & Investments Commission publishes FY 2025-26 financial reporting and audit focus areas and steps up audit and sustainability reporting reviews
ASIC's 2025-26 focus includes revenue recognition, asset valuation, and provision estimation amid market volatility. Audit inspections will increase, targeting registerable superannuation entities (RSEs). ASIC will enforce compliance for "grandfathered entities" post-2022 exemption removal. Sustainability reporting under AASB S2 becomes mandatory for Group 1 entities in 2025, with ASIC reviewing reports. Auditor independence surveillance continues, with findings published. Information Sheet 284 updates tax residency disclosure changes from July 2024.
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Central Bank of Uruguay sets out inflation targeting priorities and 2025 sovereign debt strategy to local financial community
The Central Bank of Uruguay met with financial firms, where President Guillermo Tolosa, Economy Minister Gabriel Oddone, and Debt Director Herman Kamil discussed macroeconomic outlooks and financing strategies. Tolosa emphasized achieving low, stable inflation, addressing high dollarisation and low local-currency credit. Oddone highlighted responsible public-finance management, while Kamil outlined 2025 debt-management priorities, including deepening local-currency markets and diversifying the investor base.
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Danish Financial Supervisory Authority publishes Sektoren i tal reports showing strong 2024 earnings and investment returns
The Danish Financial Supervisory Authority released "Sektoren i tal," summarizing 2024 financial sector developments, highlighting high profitability and improved investment returns. Credit institutions saw high earnings despite a slight decline in net interest income, while life insurance and pension entities benefited from equity-driven returns. The publication, replacing previous market articles, offers a standardized format across business areas.
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Ghana’s Ministry of Finance inaugurates new National Insurance Commission governing board to drive regulatory reform and transparency
Ghana’s Ministry of Finance has inaugurated a new seven-member Governing Board of the National Insurance Commission (NIC) to enhance regulation, efficiency, and transparency in the insurance sector. Chaired by Christopher Boadi-Mensah, the Board aims to strengthen regulatory frameworks, improve public understanding, and increase insurance penetration in underserved areas. Deputy Minister for Finance Thomas Nyarko Ampem emphasized the importance of reform, transparency, and consumer trust.
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South Africa's National Treasury sets G20 2025 priority to shift financial inclusion from access to active usage and highlights inclusive payments digitalisation pilots
South Africa's National Treasury, via Deputy Minister David Masondo, outlined the 2025 G20 presidency priority of enhancing financial service usage for households and small businesses. The address emphasized women's economic empowerment and detailed initiatives like the Inclusive Payments Digitalisation Programme and regulatory streamlining for fintech. Delegates were urged to develop "last mile" solutions for MSME finance and digital inclusion, focusing on innovative payment technologies and community-based lending schemes.
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Ukraine National Commission on Securities and Stock Market outlines market modernisation priorities including digital access and virtual asset legislation
The Ukraine National Commission on Securities and Stock Market, led by Chairman Ruslan Magomedov, outlined strategic priorities for modernizing Ukraine's capital market amid wartime. Key areas include government bonds, digital solutions for market access, individual investment accounts, foreign investment facilitation, and pension reform. Magomedov emphasized the importance of developing legislation for virtual assets.
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Uruguay's Ministry of Economy and Finance and Central Bank of Uruguay outline fiscal-rule anchor, 2025 debt strategy and 4.5% inflation target to investors
Uruguay's Ministry of Economy and Finance, the Central Bank, and the Debt Management Unit outlined their macroeconomic outlook and sovereign financing strategy at an investor briefing. Key points included fiscal stability, a 2025 debt management strategy to deepen local-currency markets and diversify the investor base, and efforts to achieve low and stable inflation aligned with the 4.5% target. Challenges highlighted were persistent inflation-expectations bias, high financial dollarisation, and low domestic-currency credit-to-GDP.
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Nigeria's Ministry of Finance urges capital market operators to prepare for ISA 2025 implementation and the CMMP 2030 rollout
Nigeria's Ministry of Finance urged capital market operators to boost investor confidence and financial literacy for the Investment and Securities Act 2025 and the Capital Market Master Plan 2030. The ministry emphasized the capital market's role in mobilizing long-term finance for a USD 1 trillion economy, highlighting the need for robust frameworks for capital absorption and investor exit pathways. The Securities and Exchange Commission reported a 37.65% gain in the NGX All-Share Index and efforts to improve market transparency and integrity.
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Saudi Arabia's Capital Markets Authority publishes 2024 annual report highlighting SAR 1 trillion in assets under management and major regulatory enhancements
Saudi Arabia's Capital Markets Authority (CMA) released its 2024 annual report, highlighting record market growth and significant regulatory changes. Assets under management surpassed SAR 1 trillion, with a 20.9% increase year-on-year. The CMA approved major regulatory amendments, including enhancements in the sukuk and debt market. The report noted SAR 218 billion in net foreign investments and detailed enforcement actions, including SAR 389 million in compensation awarded.
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Securities and Exchange Commission of Pakistan issues consultation paper on promoting Shariah-compliant capital market intermediaries
The Securities and Exchange Commission of Pakistan released a consultation paper proposing measures to enhance Shariah-compliant intermediaries in the capital market. Key proposals include a phased approach for Shariah-compliant institutional investors to engage with Shariah-compliant brokers and initiatives to improve market visibility through distinct categories on various platforms. The paper also encourages Islamic financial institutions to use Shariah-compliant intermediaries for takaful and investment purposes.
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Bank of Italy hosts invitation-only seminar on new challenges in central bank audit activities
The Bank of Italy is organizing a seminar on "Audit activities in a central bank: new challenges and new perspectives" in Rome from 19 to 21 May 2025. The event is part of its international technical cooperation activities and is by invitation for central banks from selected new EU Member States, EU candidate countries, and other emerging economies.
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National Credit Union Administration grants federal charter and Share Insurance Fund coverage to African Diaspora Federal Credit Union
The National Credit Union Administration has granted a federal charter and National Credit Union Share Insurance Fund coverage to African Diaspora Federal Credit Union in St. Louis, Missouri. This authorization allows it to operate as a federally chartered, federally insured credit union, primarily serving members of the African Diaspora Council, Inc. The charter became effective on May 15, 2025, marking it as the second federal credit union chartered in the year.
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Bermuda Monetary Authority warns of fraudulent social media posts falsely linked to BMA Capital
The Bermuda Monetary Authority (BMA) issued a public warning regarding a fraudulent social media post falsely associating the BMA with entities like "BMA Capital" and "Bermuda Finance." The BMA clarified it is not linked to these entities and cautioned against the risks of engaging with unregulated firms, especially those introduced through misleading claims.
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National Bank of Ukraine Governor Andriy Pyshnyy discusses the US minerals deal and post-war reform plans in Central Banking interview
The National Bank of Ukraine released an interview with Governor Andriy Pyshnyy discussing central banking challenges amid the ongoing war, macrofinancial stability measures, and the impact of the minerals agreement with the U.S. The interview also covers financial system reforms and post-war reconstruction plans.
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National Bank of Ukraine publishes Q1 2025 Banking Sector Review showing faster lending growth and setting out June stress testing and an upcoming EU-aligned leverage ratio requirement
The National Bank of Ukraine's Q1 2025 Banking Sector Review highlights accelerated bank lending growth, bolstering sector assets despite a decline in securities investments. Corporate and household lending saw significant increases, while asset quality improved with a reduced non-performing loan ratio. The review notes upcoming stress testing and future compliance with EU-aligned leverage ratios.
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Bank of Lithuania reports 2024 insurance premiums up 9.1% to EUR 1.585 billion and pre-tax profits up 31% to EUR 99.6 million
The Bank of Lithuania's review of the insurance market reported a 9.1% increase in premiums to EUR 1.585 billion in 2024, with non-life insurance accounting for 77% of premiums and growing by 10.5%. Life assurance premiums grew by 4.5%, while unit-linked products dominated the segment. All licensed insurers were profitable, with assets under management rising 11.5% to EUR 2.04 billion.
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Portuguese Insurance Regulator publishes AML and CFT prevention reporting template and instructions for the new annual report
The Portuguese Insurance Regulator (ASF) issued Circular No. 5/2025, introducing the "Prevenção BCFT" reporting file and instructions for a new supervisory report on anti-money laundering and counter-terrorist financing controls. This annual report, submitted via the ASF Portal, applies to pension fund management companies, life insurers in Portugal, and certain life insurance intermediaries meeting specific criteria. Reporting for the 2024 reference year is due by 30 June 2025, with interim email submissions allowed for intermediaries without portal access.
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Germany's Federal Financial Supervisory Authority BaFin will not object to omitting dedicated confirmation-of-funds endpoints and related statistics for card issuers
Germany's Federal Financial Supervisory Authority (BaFin) clarified expectations for technical endpoints used by card-issuing payment service providers to confirm fund availability. BaFin will not object if account-servicing payment service providers do not offer a dedicated confirmation-of-funds endpoint for card issuers or include related response-time metrics in their statistics, due to the absence of card issuers in Germany relying solely on this endpoint.
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Australian Financial Complaints Authority stops issuing membership certificates from the 2025-26 financial year and moves verification to its online firm search
The Australian Financial Complaints Authority (AFCA) will cease issuing membership certificates from the 2025-26 financial year, shifting verification to its website-based financial firm search to combat fraud and reduce administrative burdens. This change, supported by the Australian Securities and Investments Commission and legal advisers, requires members to update processes and allows continued use of AFCA branding per guidelines.
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Central Bank of Belize urges coordinated resilience and diversification response to US trade policy shifts and projects 2025 growth could slow to 2.6% under a moderate shock scenario
The Central Bank of Belize summarized Governor Kareem Michael’s presentation on Belize’s vulnerability to a "global polycrisis" and the impact of recent US trade measures, urging coordinated action to enhance resilience and diversify economic connections. The Governor noted a shift in US economic diplomacy affecting services, supply chains, and investment, with early signs of impact on Belize’s tourism and imports. GDP growth could slow from 4.3% to 2.6% in 2025, emphasizing the need for domestic resilience, regional ties, and reforms.
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Sweden's Riksbank supports Cash Inquiry proposals for mandatory cash acceptance for essential goods and expanded bank cash service obligations
Sweden's Riksbank supports the Ministry of Finance’s Cash Inquiry proposals to mandate cash acceptance for essential purchases and enhance banks' statutory responsibilities for core cash services. The Riksbank emphasizes these measures are crucial for inclusion and payment-system resilience, advocating for immediate legislative changes. It also backs regulating bank service pricing and establishing a framework for offline card payments by 2026.
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Hong Kong Securities and Futures Commission revokes Mui Chok Wah’s licence and imposes a two-year industry ban over theft conviction and late notification
The Hong Kong Securities and Futures Commission (SFC) revoked Mr. Mui Chok Wah’s licence and banned him for two years due to his theft conviction and delayed charge notification. Mui breached the Securities and Futures Ordinance by not informing the SFC within seven business days. The SFC noted misconduct and fitness concerns, considering his cooperation and clean disciplinary record.
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Austrian National Bank and SUERF to host the 52nd Economic Conference on monetary policy amid structural tectonic shifts
The Austrian National Bank and SUERF will host their 52nd Economic Conference in Vienna on 22–23 May 2025, focusing on "Monetary policy and structural tectonic shifts." It will address how central banks can maintain price stability amid global shocks affecting economic structures, with sessions on inflation, supply-chain shifts, and productivity growth. The event, featuring notable speakers, will be accessible both online and in person.
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Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approves Reana Ilshatovna Aukhadiyeva as deputy chief accountant in the banking sector
The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan approved Reana Ilshatovna Aukhadiyeva as deputy chief accountant in the banking sector.
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Cyprus Securities and Exchange Commission warns investors about 14 unauthorised investment services websites
The Cyprus Securities and Exchange Commission (CySEC) issued a warning regarding several websites not authorized to provide investment services under Article 5 of Law 87(I)/2017. CySEC advises investors to verify firms' licensing status on its website before engaging in business with investment firms.
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Hong Kong Monetary Authority alerts public to fraudulent Shanghai Commercial Bank websites and internet banking login screens
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens linked to Shanghai Commercial Bank Limited. The HKMA emphasized that banks will not send messages with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals should contact the bank and report to the Police.
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Hong Kong Monetary Authority alerts public to fraudulent Bank of East Asia websites and internet banking login screens
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens linked to The Bank of East Asia, Limited. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information via phone, email, or SMS. Affected individuals are advised to contact the bank and report to the Hong Kong Police Force’s Crime Wing Information Centre.
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Hong Kong Monetary Authority warns the public about fraudulent Chong Hing Bank websites and internet banking login screens
The Hong Kong Monetary Authority (HKMA) issued an alert regarding fraudulent websites and internet banking login screens linked to Chong Hing Bank Limited. The HKMA emphasized that banks will not send SMS or emails with embedded hyperlinks for transactions or request sensitive information through such means. Affected individuals are advised to contact Chong Hing Bank and report to the Hong Kong Police Force.
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National Bank of Belgium research finds Belgium’s underlying fiscal stance has been looser ex post than real-time estimates and supports a hybrid indicator
Research by the National Bank of Belgium shows that Belgium's fiscal policy has been looser over the past two decades when data are revised. In 2020, the primary deficit reached 7% of GDP, driven by the cyclical component and Covid-19 measures. The study advocates a hybrid fiscal assessment approach, combining bottom-up revenue and top-down spending methods, aligning with the European Commission's new fiscal framework.
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National Bank of Bulgaria signs cooperation memorandum with the American Chamber of Commerce in Bulgaria to support euro area accession from 1 January 2026
The National Bank of Bulgaria and the American Chamber of Commerce in Bulgaria signed a memorandum of cooperation to enhance collaboration, focusing on Bulgaria's planned euro area accession in 2026 and informing businesses and households about its long-term effects. The agreement aims to strengthen institutional dialogue, improve economic competitiveness, and support European integration.
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Kuwait Capital Markets Authority fines Privatization Holding Company KD 1,000 for disclosure and transparency breach
The Kuwait Capital Markets Authority imposed a KD 1,000 penalty on Privatization Holding Company for breaching disclosure and transparency requirements by failing to disclose material information about a shareholding sale. The breach involved Article (4-1-1) of Module Ten of the Executive Bylaws of Law No. 7 of 2010, as the company did not report the sale to Boursa Kuwait or the Authority, despite generating a profit of KD 542,917.
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Kuwait Capital Markets Authority disciplinary board fines Investment Interests Company KWD 5,000 for securities dealing rule breaches
The Kuwait Capital Markets Authority imposed a KWD 5,000 penalty on Investment Interests Company for securities dealing violations. The company was found to have sold non-transferable shares without a prospectus and engaged in unauthorized share management since 2005. Violations pertained to Modules Eleven and Seven of the Executive Bylaws of Law No. 7 of 2010.
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Isle of Man Financial Services Authority publishes lending statistical bulletin as at 31 December 2024
The Isle of Man Financial Services Authority released a lending statistical bulletin detailing aggregate data on the Island's banking sector, highlighting quarterly and annual lending trends.
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Qatar Central Bank governor meets Michael Bloomberg to discuss global finance and investment
Qatar Central Bank announced that Governor Sheikh Bandar bin Mohammed bin Saoud Al Thani met with Michael Bloomberg to discuss recent trends in global finance and investment.
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Federal Reserve Bank of Boston and Federal Reserve Bank of New York host conference on stablecoins and tokenization risks for financial stability
The Federal Reserve Banks of Boston and New York discussed stablecoins and tokenization's impact on financial stability at their virtual conference. Key topics included stablecoin risks, monetary innovation's interaction with nonbank intermediaries, and a framework for assessing vulnerabilities in money-like products. The conference featured seven papers and a keynote address, available on bostonfed.org.
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Arab Monetary Fund and Islamic Financial Services Board sign memorandum to deepen cooperation on Islamic finance regulation and resilience
The Arab Monetary Fund and the Islamic Financial Services Board have signed a Memorandum of Understanding to establish a Strategic Partnership Framework aimed at enhancing cooperation on Islamic finance regulation and sustainable development in the Arab region. The framework focuses on policy advice, capacity development, knowledge sharing, and analytical support, aligning with the IFSB Strategic Plan 2025–2027 and the AMF Strategy 2025–2030.
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National Bank of the Republic of Tajikistan revokes Microcredit Fund Sarparast’s licence to allow voluntary liquidation
The National Bank of the Republic of Tajikistan's Board approved the voluntary liquidation of Microcredit Fund Sarparast by revoking its banking operations licence. The licence was initially issued on 24 June 2014 under Board decision No. 151, in accordance with Tajikistan’s Law on the Liquidation of Credit Institutions.
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National Bank of the Republic of Tajikistan discusses expanded cooperation with the Islamic Development Bank Group and ITFC at annual meetings
The National Bank of the Republic of Tajikistan's delegation, led by its First Deputy Chairman, engaged with the Islamic Development Bank Group and regional financiers during the Annual Meetings in Algiers. Discussions focused on cooperation in energy, industry, agriculture, and banking, emphasizing the green economy and digitalisation. Talks with the International Islamic Trade Finance Corporation included proposals to increase financing for environmentally clean production and infrastructure.
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National Bank of the Republic of Tajikistan sets cooperation priorities with the European Bank for Reconstruction and Development on insurance supervision and green finance
The National Bank of the Republic of Tajikistan and the European Bank for Reconstruction and Development discussed 2024–2029 economic development programmes, focusing on insurance sector and sustainable finance. Key areas include enhancing insurance supervisory capacity, regulatory framework development, digitisation, public literacy initiatives, green finance market development, and climate risk analysis. EBRD priorities include private-sector project development, financial-system resilience, and corporate governance improvements.
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European Central Bank publishes digital euro explainer outlining offline use, privacy safeguards and holding limits
The European Central Bank (ECB) outlined the proposed digital euro as a secure, cash-like digital payment to enhance Europe's payment system. It would enable real-time transactions, be accepted where cards are used, and maintain user privacy. The ECB plans to limit holdings, transferring excess to linked accounts, and offers access through banks, payment service providers, and an ECB app.
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European Central Bank analysis warns gold market tail risks could spill over via €1 trillion euro area gold derivatives exposures
The European Central Bank's May 2025 Financial Stability Review emphasizes gold's role as a safe haven amid uncertainties, while warning of tail risks from disruptions in physical settlement and leveraged derivatives. The report notes increased demand for physical delivery through COMEX futures and significant euro area exposures to gold derivatives, with gross notional exposures reaching EUR 1 trillion in March 2025. Concerns over potential gold import tariffs and price discrepancies have led to increased shipping from London to New York and higher costs in London.
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European Central Bank publishes working paper finding euro area bank liquidity dependence concentrated in the 2015–2017 Asset Purchase Programme phase
The European Central Bank's working paper analyzes Eurosystem liquidity injections' impact on euro area banks' dependency on central bank liquidity, revealing shifts in deposit mixes. From January 2015 to December 2017, excess reserves increased demand deposits and decreased time deposits, particularly linked to non-borrowed reserves. The study suggests ongoing monitoring and potential recalibration of the operational framework as excess liquidity is reduced.
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Central Bank of Bosnia and Herzegovina governor highlights SEPA participation, instant payments and AI analytics as digital priorities
Governor Jasmina Selimovic of the Central Bank of Bosnia and Herzegovina stressed the need for strategic digital transformation at the Economic Forum, noting the financial sector's rapid digitalization compared to the slower public sector. She cited limited resources and outdated regulations as reasons for the lag, advocating for changes in processes and business models. The central bank is investing in IT systems, joining the Single Euro Payments Area, and exploring AI for data analysis, while urging stronger public-private cooperation.
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Bank of Spain reports Spain’s public debt fell to 103.5% of GDP in March 2025
The Bank of Spain reported that Spain's general government debt under the Excessive Deficit Procedure was 103.5% of nominal GDP in Q1 2025, down 2.8 percentage points from the previous year. Total debt reached EUR 1,667 billion in March 2025, with central government debt at EUR 1,518 billion, regional government at EUR 338 billion, and social security at EUR 126 billion.
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Central Bank of the Philippines requires electronic filing of FX Manual applications and requests with its International Operations Department from 23 May 2025
The Central Bank of the Philippines (BSP) mandates electronic submissions for foreign exchange transactions to its International Operations Department, effective 23 May 2025, as per Circular Letter CL-2025-022. This applies to transactions like foreign currency loans, investments, and cross-border transfers over PHP 50,000. The circular supersedes CL-2024-025, with further details on inward investment submissions to be announced separately.
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Andorra's Ministry of Finance approves rules for a mandatory register of auditors and appoints Miguel Antonio Pérez Carnicero as audit supervisor
Andorra's Ministry of Finance validated the first implementing regulation under the Audit of Accounts Law, establishing a mandatory Register of Account Auditors and appointing Miguel Antonio Pérez Carnicero as supervisor. The regulation mandates registration for all auditors in Andorra and includes an insurance-rule amendment to align auditor rotation with international standards. The register aims to enhance oversight, transparency, and compliance within the auditing profession.
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European Council outlines Eurogroup President Donohoe’s Netherlands meetings focused on the digital euro and the Savings and Investments Union
Eurogroup President Paschal Donohoe visited the Netherlands to discuss macroeconomic developments, euro area budgetary coordination, and Eurogroup priorities, including the digital euro and the Savings and Investments Union. Meetings were held with Dutch Finance Minister Eelco Heinen and De Nederlandsche Bank President Klaas Knot, focusing on deeper capital markets.
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Brazil Securities Commission suspends Caramuru Alimentos and Sanesalto Saneamento registrations for prolonged failure to file required information
The Brazil Securities Commission (CVM) has suspended the public company registrations of Caramuru Alimentos S.A. and Sanesalto Saneamento S.A. for failing to provide mandatory information for over a year, as required by CVM Resolution 80. During the suspension, these companies cannot have their securities traded on regulated markets. The suspension does not absolve the companies or their management from responsibility for any prior infractions.
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Brazil Securities Commission schedules 20 May judgment in Bluebenx alleged fraud and unregistered public offering case
The Brazil Securities Commission (CVM) will hold a judgment session on 20 May to assess Bluebenx Tecnologia Financeira S.A. and individuals for suspected fraudulent operations and unregistered public offerings. The proceedings involve potential breaches of CVM Resolution 62 and other regulations. The session will be public, with options for in-person or videoconference attendance, and will proceed with electronic voting if no respondents participate.
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National Bank of Serbia dismisses reports that first-series EUR 50 notes are being withdrawn and confirms all euro banknotes remain legal tender
The National Bank of Serbia clarified that no decision has been made to withdraw the first-series EUR 50 banknote or any first-series euro banknotes from circulation, countering media claims. It emphasized that all denominations from both the first and second series remain legal tender and circulate in parallel. Additionally, damaged euro banknotes can be exchanged for full face value at any euro area central bank under specific conditions.
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Central Bank of the Republic of Azerbaijan launches an interactive statistical data platform
The Central Bank of the Republic of Azerbaijan has launched an interactive statistical data platform to enhance public access to key indicators and analytical overviews. Available in Azerbaijani and English, it covers macroeconomic, monetary, financial sector, payment systems, and external sector statistics with dashboards and dynamic maps. Integrated into the Statistics section of the central bank's website, it has potential for future expansion.
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European Council announces Eurogroup President Donohoe’s Netherlands visit to discuss the digital euro and Savings and Investments Union
The European Council reported on Eurogroup President Paschal Donohoe's visit to the Netherlands to discuss macroeconomic developments, budgetary coordination, and Eurogroup priorities. Key topics included the digital euro and the Savings and Investments Union. Meetings with Dutch Finance Minister Eelco Heinen and Klaas Knot, President of the Dutch Central Bank, focused on the euro area's economic outlook and capital market deepening.
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Guernsey Financial Services Commission streamlines Private Investment Fund regime by merging routes and removing audit and investor caps
The Guernsey Financial Services Commission has streamlined the Private Investment Fund (PIF) regime by consolidating previous routes into a single route, while maintaining the Family PIF separately. The revised regime broadens investor qualification criteria, removes the audit requirement, and lifts the cap on qualifying private investors and offers, provided they are private. The PIF remains regulated with a focus on corporate governance, and applications can be processed within 24 hours via a new online portal.
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Croatian Financial Services Supervisory Agency awards First Elementary School Ogulin first prize in Financial Literacy in Verse contest
The Croatian Financial Services Supervisory Agency (Hanfa) announced the winners of its "Financial Literacy in Verse" competition, awarding first place to the 4a class of the First Elementary School Ogulin. The contest, Hanfa's fourth for elementary schools, featured songwriting about financial literacy, with 24 schools participating.
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International Organization of Securities Commissions publishes final reports on finfluencers, online imitative trading and digital engagement practices
IOSCO released three reports on risks to retail investors from digital marketing and social media, including finfluencers and online trading. The reports propose Good Practices for regulators and intermediaries to improve transparency, accountability, and investor education, highlighting regulatory gaps and risks like unregistered finfluencers and DEP tools affecting investor behavior.
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Islamic Financial Services Board and Arab Monetary Fund sign MoU establishing a strategic partnership to support Islamic finance regulation and resilience in the Arab region
The Islamic Financial Services Board and the Arab Monetary Fund have signed a Memorandum of Understanding to establish a Strategic Partnership Framework. This framework aims to enhance cooperation in Islamic finance regulation, financial resilience, and sustainable development in the Arab region. It focuses on policy advice, capacity development, knowledge sharing, and analytical support, aligning with the IFSB Strategic Plan 2025–2027 and the AMF Strategy 2025–30.
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HM Treasury launches Phase 1 consultation on Consumer Credit Act reform including repeal of disclosure rules and automatic sanctions
HM Treasury has launched a Phase 1 consultation to reform the Consumer Credit Act 1974, aiming to modernize the consumer credit regime. Proposals include repealing prescriptive information provisions, recasting conduct and disclosure requirements into Financial Conduct Authority rules, and reconsidering automatic sanctions and criminal offences. Implementation will require primary legislation and FCA rulemaking, with Phase 2 addressing scope, definitions, and protections.
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European Payments Council publishes Verification of Payee API Reference Toolbox test cases to support compliance testing
The European Payments Council released the "Verification of Payee (VOP) API Reference Toolbox (ART) – Test Cases" document to validate the VOP solution. It aids Payment Service Providers and Routing and Verification Mechanisms in verifying compliance with the EPC’s VOP Inter-PSP API specifications. The test cases include both positive and negative scenarios for the requesting and responding roles in the VOP API ecosystem.
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United Kingdom's HM Treasury confirms legislation to bring Buy-Now, Pay-Later under FCA regulation with affordability checks and Ombudsman access
HM Treasury will regulate Buy-Now, Pay-Later (BNPL) services, requiring firms to adhere to consistent standards for clearer information and stronger consumer protections. New requirements include upfront affordability checks, improved refund access, and the right to complain to the Financial Ombudsman. This aligns BNPL with other credit products and accompanies reforms to the Consumer Credit Act, transitioning oversight to the Financial Conduct Authority's system.
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Central Bank of Chile flags higher external risks in its Financial Stability Report and maintains the countercyclical capital requirement at 0.5%
The Central Bank of Chile's Financial Stability Report for H1 2025 highlights global economic uncertainty as the main risk to Chile's financial stability, despite resilient markets. It notes improved domestic credit and macroeconomic conditions but warns of vulnerabilities among smaller firms and in the residential real estate sector. Stress tests show the banking system remains solvent under severe scenarios, supported by Basel III adaptations, though fiscal space is constrained by structural deficits and rising public debt.
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Norway's Financial Supervisory Authority reports fewer mortgage lending rule deviations in Q1 2025 while consumer-loan deviations increase
The Financial Supervisory Authority of Norway (Finanstilsynet) reported a decrease in deviations from lending regulation requirements for housing-secured loans in Q1 2025, particularly outside Oslo, while deviations for consumer loans increased. The decline in mortgage deviations was mainly due to adherence to the maximum loan-to-value requirement. This period marks the first reporting after the Ministry of Finance raised the maximum loan-to-value limit from 85% to 90% on 31 December 2024.
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State Bank of Vietnam to issue circular on commercial credit priorities for private SMEs and innovative startups
The State Bank of Vietnam plans to issue a circular prioritizing commercial credit for private enterprises, especially SMEs, supporting-industry companies, and innovative startups, following a government conference on Resolution 68. The government is preparing a decree to allocate land for high-tech firms and SMEs, and the Ministry of Justice will develop a digital legal portal to facilitate business access to policies and laws.
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State Bank of Vietnam outlines next-phase priorities for Vietnam Bank for Social Policies as policy-credit funding reaches nearly VND 412 trillion
The State Bank of Vietnam reported on the Vietnam Bank for Social Policies’ 2020–2025 conference, highlighting a 94.3% increase in social policy credit funding to nearly VND 412 trillion and significant lending achievements. The bank disbursed VND 541.498 trillion across over 11.8 million loans, supporting job creation, disadvantaged students, and rural infrastructure. The bank aims to enhance its legal framework and organisational structure while launching an internal emulation campaign for 2025–2030.
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Kuwait Capital Markets Authority Disciplinary Board fines Al-Bareeq Holding Company and 14 individuals KD 50,000 each for listing, governance, disclosure and market conduct breaches
The Kuwait Capital Markets Authority fined Al-Bareeq Holding Company and 14 individuals KD 50,000 for breaches of listing, disclosure, transparency, corporate governance, and market behavior requirements. Violations included not applying International Financial Reporting Standards, non-disclosure of material information, inadequate governance safeguards, and misleading financial information affecting share price and trading. Key individuals penalized include Abdullah Mohammed Al-Abduljader and Sami Mohammed Khuraisan.
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Kuwait Capital Markets Authority imposes KD 15,000 penalty on Ikttitab Holding Company and fines directors for disclosure and governance breaches
The Kuwait Capital Markets Authority fined Ikttitab Holding Company and several board members for breaches of disclosure, transparency, and corporate governance. Ikttitab was fined KD 10,000 for disclosure violations and KD 5,000 for governance breaches, including failures to disclose material events and delays in disclosing critical information. Individual penalties included KD 5,000 fines on 10 senior officials and KD 3,000 fines on four board members.
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Norwegian Financial Supervisory Authority shares progress on cloud data platform, Altinn 3 migration and AI automation at public sector data network meeting
The Norwegian Financial Supervisory Authority outlined its 2022–2026 digitalisation programme, funded with over NOK 100 million, focusing on automation, digitalisation of supervisory processes, and enhanced data analytics. Key initiatives include a cloud-based data platform (FIDA), migration to Altinn 3 for reporting, and operational automation with robotic process automation and Microsoft 365 Copilot. The programme aims to modernise supervisory, reporting, and internal processes through improved data governance and expanded use of AI.
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U.S. Securities and Exchange Commission chair directs staff to draft crypto rules and launch Consolidated Audit Trail review
U.S. SEC Chairman Paul S. Atkins outlined priorities, including drafting crypto market rule proposals and reviewing the Consolidated Audit Trail due to rising costs. The SEC seeks congressional approval to integrate the Strategic Hub for Innovation and Financial Technology into other agency parts. Additional priorities involve allowing SEC registrants to custody and trade both securities and non-securities, and reconsidering investment practices for closed-end funds.
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U.S. Securities and Exchange Commission appoints Katherine Reilly as Acting Inspector General
The U.S. Securities and Exchange Commission appointed Katherine Reilly as Acting Inspector General, succeeding Deborah Jeffrey. Reilly, who joined the SEC's Office of Inspector General in 2020, has held various roles, including Acting Deputy Inspector General for Investigations. The Office of Inspector General operates independently, reporting to both the Commission and Congress.
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United Arab Emirates Ministry of Finance joins IMFC Deputies Meeting in Riyadh to discuss global growth, debt and IMF coordination
The UAE Ministry of Finance attended the International Monetary and Financial Committee Deputies Meeting in Riyadh, focusing on global economic challenges and enhancing international financial coordination. Led by H.E. Younis Haji AlKhoori, discussions included breaking from low-growth, high-debt paths, strengthening the global financial safety net, and reviewing the IMF Managing Director’s global policy agenda. The meeting also addressed issues for the upcoming IMF and World Bank Spring Meetings.
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United Arab Emirates Ministry of Finance and Central Bank to participate in Joint Annual Meetings of Arab Financial Institutions in Kuwait
The UAE Ministry of Finance and Central Bank will join the Joint Annual Meetings of Arab Financial Institutions in Kuwait, focusing on financial cooperation, 2024 reviews, and development plans. Led by Central Bank Governor Khaled Mohamed Balama, the Emirati delegation will engage with Arab financial bodies. The 16th session of the Council of Arab Finance Ministers will discuss fiscal policy, sustainable development, and financial instruments amid global economic shifts.
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United Arab Emirates Ministry of Finance and Central Bank attend Arab Financial Institutions annual meetings and confirm UAE will host next session
The UAE Ministry of Finance and Central Bank participated in the Joint Annual Meetings of Arab Financial Institutions in Kuwait, focusing on Arab financial cooperation and sustainable development financing. Discussions included public debt management, fiscal risk mitigation, and innovative financing tools like green bonds. The UAE will host the next session, with calls for integrated fiscal policies across Arab nations.
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Financial Action Task Force joins INTERPOL and UN Office on Drugs and Crime in call for stronger asset recovery and cross-border cooperation
The Financial Action Task Force, INTERPOL, and the UN Office on Drugs and Crime called for enhanced efforts to disrupt illicit profits from organized crime and terrorism, emphasizing asset recovery and international financial investigations. FATF tightened asset recovery standards, noting nearly 80% of countries show low to moderate effectiveness. INTERPOL's Silver Notice aims to boost international cooperation on criminal assets, with 51 pilot countries participating.
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Securities Commission of The Bahamas warns against five unlicensed online entities using fake regulatory certificates
The Securities Commission of The Bahamas warned that five entities, including HILLTOPFXTRADE and KCMENUKUL INVESTMENT LIMITED, are not registered or licensed. These entities allegedly conduct securities trading or digital asset services in violation of Bahamian laws, falsely claiming Commission authorisation, and displaying fake certificates. The Commission cautions that such activities may lead to criminal prosecution or regulatory sanctions.
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Central Bank of the Dominican Republic publishes first quarter 2025 labour force survey showing 176,581 net new jobs and record-low informality
The Central Bank of the Dominican Republic reported preliminary results from the National Continuous Labour Force Survey for Q1 2025, showing record highs in employment and participation rates, with total employment reaching 5,117,548. Formal employment increased by 188,658, reducing the informality rate to 53.4%, while the open unemployment rate decreased to 4.9%. The labour force participation rate rose to 66.0%, and the broader labour underutilisation rate fell to 9.3%.
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United Kingdom's The Pensions Regulator launches innovation support service to reduce barriers to pensions innovation
The Pensions Regulator has launched an innovation support service to facilitate early engagement with innovators and reduce regulatory barriers in the pensions industry. It will focus on administration, member experience, investment, and new scheme models, offering expert discussions, collaborative events, and thought leadership materials. Collaboration with the Financial Conduct Authority aims to streamline support and provide access to the FCA’s innovation test service.
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European Insurance and Occupational Pensions Authority study urges clearer home insurance IPIDs on natural catastrophe coverage
The European Insurance and Occupational Pensions Authority (EIOPA) published a study highlighting deficiencies in how home insurers disclose natural catastrophe coverage in Insurance Product Information Documents (IPIDs). Disclosures often lack clarity and consumer-friendliness, leading to potential misunderstandings about coverage for events like floods and fires. EIOPA warns these shortcomings could contribute to an "insurance illusion," where policyholders mistakenly believe they are adequately covered.
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Saudi Arabia Capital Market Authority licenses Badwa Capital Company to conduct arranging activity after it completes commencement requirements
The Saudi Arabia Capital Market Authority confirmed that Badwa Capital Company has fulfilled the requirements to commence arranging activity in the securities business under its licence. The licence was issued in accordance with the Capital Market Law and its Implementing Regulations, following a CMA resolution dated August 14, 2024.
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Central Bank of Peru reports March 2025 exports up 26.5% to USD 7,220 million
The Central Bank of Peru reported that March 2025 exports reached USD 7,220 million, a 26.5% increase from March 2024, driven by higher export prices and volumes. Non-traditional exports, particularly in agriculture, textiles, and fishing, saw significant growth, while traditional exports rose due to increased shipments of gold, fishmeal, and natural gas. In Q1 2025, exports totaled USD 20,787 million, up 25.2% year on year.
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Indonesia's Financial Services Authority expands SICANTIKS Islamic finance literacy programme to South Sumatra
Indonesia's Financial Services Authority (OJK) held an Islamic finance education programme in Palembang, South Sumatra, under the SICANTIKS initiative to boost sharia financial literacy among women and MSMEs. The event emphasized women's roles in financial education and addressed digital financial crime risks. The programme, in collaboration with PT Permodalan Nasional Madani, will continue through 2025 across various regions, supported by educational modules on sharia finance and financial crime awareness.
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National Bank of the Republic of North Macedonia says one bank has applied to join SEPA credit transfer with earliest onboarding date 6 October 2025
Vice Governor Emilija Nacevska announced North Macedonia's acceptance into the Single Euro Payments Area (SEPA) and detailed support for local banks joining the SEPA Credit Transfer scheme. The National Bank will monitor SEPA readiness and collaborate with ACI Macedonia on professional education.
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Jordan Securities Commission partners with capital market institutions to host Al-Balqa Applied University student field visit
The Jordan Securities Commission, in collaboration with the Amman Stock Exchange and the Securities Depository Center, hosted a field visit for Al-Balqa Applied University students to introduce them to Jordan’s capital market institutions and recent regulatory developments. The visit included sessions on the Commission’s supervisory role, the Amman Stock Exchange’s electronic trading system, and the Securities Depository Center’s procedures.
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European Central Bank President Lagarde calls for faster EU integration and says digital euro preparations will be technically ready by October
European Central Bank President Christine Lagarde stressed deeper EU integration to reduce dependencies in energy, defence, and finance amid US policy uncertainty. She prioritized the digital euro and payment infrastructure, with technical readiness expected by October, pending European Parliament approval. Lagarde also addressed the euro's appreciation against the US dollar, EU tariff strategies, and reducing reliance on non-European payment providers.
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Central Bank of Bahrain Governor sets out priorities for digital transformation and balanced regulation at Shura Council forum
Central Bank of Bahrain Governor Khalid Humaidan participated in a forum on Bahrain’s Economic Vision 2030, emphasizing the financial sector's 17% GDP contribution and role in foreign investment. He highlighted the need for an innovative regulatory environment for digital transformation and skills development, balancing stability and innovation. The Governor outlined efforts to support financial system digitalization and improve financial services quality through enhanced governance and infrastructure.
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State Bank of Vietnam participates in nationwide rollout of Politburo resolutions on private sector development and legal reform
The State Bank of Vietnam joined a nationwide conference to implement Politburo Resolutions 66 and 68, focusing on law-making renewal and private sector development. Prime Minister Pham Minh Chinh emphasized institutional reform, resource access, and digital transformation, noting the private sector's significant economic contribution and challenges like low foreign direct investment participation. Implementation is guided by the Government's action plan and National Assembly resolutions, with Resolutions 57, 59, 66, and 68 forming a strategic framework.
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Central Bank of Egypt reviews IMF-supported reform programme progress with IMF Deputy Managing Director Nigel Clarke
The Central Bank of Egypt hosted IMF Deputy Managing Director Nigel Clarke and an IMF delegation to discuss Egypt’s IMF-supported economic reform programme. Discussions highlighted improvements in economic indicators, such as increased remittances, and efforts to curb inflation.
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Indonesia's Financial Services Authority holds Youngpreneur Summit and SYAFIF Goes to Palembang to boost financial and sharia finance literacy
Indonesia's Financial Services Authority (OJK) hosted financial education events in Palembang, including the Youngpreneur Summit 2025 and SYAFIF Goes to Palembang, to enhance financial literacy and inclusion. Targeting youth and sharia finance users, the initiatives featured the "Sultan Muda" launch and financial literacy ambassadors' appointment. OJK highlighted consumer protection efforts, noting the shutdown of over 1,300 illegal entities in 2025, and reported national sharia finance assets of IDR 2,900 trillion as of March 2025.
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Indonesia Financial Services Authority convenes stakeholders to strengthen bank financing and a sustainable ecosystem for the textile and textile products industry
Indonesia’s Financial Services Authority (OJK) met with government agencies, banks, and the textile and textile products (TPT) industry to boost financing support and sustainable finance. The meeting addressed TPT challenges, synergy opportunities, and financing needs, emphasizing banking's role in targeted lending and improved risk management. OJK highlighted structural issues like high export logistics costs and limited export markets, advocating for integrated cross-sector approaches and export market diversification.
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National Bank of Georgia highlights strong investor interest in leading Georgian bank shares on the London Stock Exchange
Governor Natia Turnava of the National Bank of Georgia highlighted strong investor interest in Georgian banks and the country's business environment at the Georgia Investment Forum in London. She emphasized the London Stock Exchange's critical role and noted the UK as Georgia's largest source of foreign direct investment in 2024. The forum gathered over 180 representatives from investment companies, including British entrepreneurs with investments in Georgia.
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National Bank of the Republic of North Macedonia vice governor highlights SME productivity and digitalisation gaps and links support agenda to SEPA and inclusion initiatives
Vice Governor Ana Mitreska of the National Bank of the Republic of North Macedonia highlighted OECD findings at the Marili Business Forum, noting strong progress in SME support services. She emphasized digital transformation and innovation as crucial for enhancing SME productivity, despite current labour productivity being lower than the EU average. Mitreska also discussed central bank initiatives indirectly aiding SMEs, such as financial education, women's entrepreneurship projects, and SEPA membership for improved payment services.
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Capital Markets Board of Türkiye tasked with coordinating annual Financial Literacy Day on 22 May
Türkiye has designated 22 May as "Financial Literacy Day," coordinated by the Capital Markets Board to enhance financial literacy awareness. The initiative highlights its importance for personal budget management, social welfare, and economic resilience, with tailored education for diverse audiences. Public institutions are urged to support these efforts, aligning with the national financial education action plan.
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National Bank of Ethiopia hosts Ethiopia Finance Forum 2025 to discuss financial-sector reforms and investment opportunities
The National Bank of Ethiopia concluded the Ethiopia Finance Forum 2025, focusing on macroeconomic stability, financial inclusion, and digital transformation. The event gathered policymakers, financial institutions, and private sector leaders to discuss policy shifts and investment opportunities. The forum is set to return next year.
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State Bank of Vietnam deputy governor sets five priorities for Co-opBank’s 2025–2030 emulation and rewards programme
State Bank of Vietnam Deputy Governor Doan Thai Son emphasized integrating emulation and rewards with core tasks at Co-opBank's conference to stabilize the People’s Credit Funds system. Co-opBank launched a 2025–2030 emulation campaign, highlighting restructuring and non-performing loan resolution efforts, with significant growth in funding and loans by the end of 2024. Son outlined five focus areas, including digital transformation and enhancing service culture.
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Financial Markets Standards Board appoints Peter Warne as its first APAC-based board director
The Financial Markets Standards Board appointed Peter Warne as a non-executive director, marking him as the first Asia-Pacific-based board director, effective 1 August 2025.
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Chile's Ministry of Finance convenes CAPIF to drive ENIF implementation and refresh the national financial education strategy
Chile's Ministry of Finance held the first 2025 Advisory Commission for Financial Inclusion meeting to coordinate the National Financial Inclusion Strategy (ENIF) and update the National Financial Education Strategy (ENEF). The session outlined an operational route for ENIF, focusing on monitoring, evaluation, communication, and public-private collaboration. The Commission for the Financial Market introduced a Practical Fintech Guide and is developing financial inclusion indicators, with results anticipated by end-2025.
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Egmont Group holds Egmont Committee intersessional meeting in Baku to shape strategic AML/CFT work ahead of July 2025 Plenary
The Egmont Group's Egmont Committee held an intersessional meeting in Baku to coordinate efforts from the 2025 Working and Regional Group Meetings and prepare for the 31st Plenary in July 2025, focusing on international cooperation, data analysis, and anti-money laundering and counter-terrorist financing measures.