ADB Trade & Supply Chain Finance Program’s Post

#LessondLearned? The time after 15 September 2008 had a few insights for me: - #creditlines never hold in time of #crisis; - #liquidity #stresstesting is never tough enough; - #exposuremonitoring (and #limit enforcement) is key; and - #regulators are always too late to the party. On this note, also a thanks to Paul Harrald, Katharine Melville and Brad Carr for all the great post crisis discussions on risk and #capitalmanagement. #riskmanagement #compliance #limits #uae #cambodia #mongolia #ethics #financialcrisis #BaselIV EuroCham Cambodia The American Chamber of Commerce in Cambodia Association (AmCham) The Association of Banks in Cambodia Emirates NBD Standard Chartered Bank for International Settlements – BIS ABA Bank XacBank

24.02.24 || I have highlighted some of the issues present in the stock market in Bangladesh, which should be considered while deciding on the most appropriate Shariah screening methodology for the listed securities in Bangladesh. The issues I have identified: ◾ Inefficient market ◾ Regulatory intervention in price fixing ◾ Price volatility ◾ Difficulty in accessing market information ◾ Poor quality of information ◾ Question about the credibility of screening service providers ◾ Shariah non-compliance in Shariah-compliant business ◾ Highly leveraged entities At the 4th BAFF Islamic Finance Conference 2024, held in Dhaka, Bangladesh. 

📢South African Treasury Seeks Feedback On Money Laundering Regulations Draft: The #SouthAfrican #Treasury, under the leadership of Finance Minister Enoch Godongwana, has issued an #Invitation for public #Comments and submissions on draft amendments to the #MoneyLaundering and #TerroristFinancing Control Regulations. These proposed changes aim to bolster South Africa's efforts in #Combating money laundering and terrorist financing by enhancing #Reporting requirements for the conveyance of cash or bearer negotiable instruments across borders. Key points of the draft amendments include: 🔹Strengthening #Reporting obligations under section 30 of the Financial Intelligence Centre Act to include cross-border movement of cash and bearer negotiable instruments. 🔹Setting a #Threshold of R24,999.99 for reporting such cross-border transactions, requiring reporting for amounts equal to or exceeding R25,000. 🔹Specifying the information to be included in reports, ensuring #Transparency and traceability of financial flows. 🔹Designating #CustomsOfficers as authorized recipients of these reports, enabling integration into the Customs and Excise Act reporting framework. Feedback on these proposed #Regulations is crucial to ensure their effectiveness and practicality in #Combating #FinancialCrime. This is an opportunity for stakeholders in the financial sector, non-financial businesses, and civil society to contribute to the enhancement of financial system resilience. For more details and to review the draft amendments refer to the link in the comment section. 💼#AML #CTF  #FinancialRegulations #PublicConsultation

The second session of HBL Global Markets Outlook 2024 in Lahore featured a panel comprised of renowned business leaders. The panellists discussed the roadmap to future economic growth and prosperity. Among the topics covered were the need for enhancing credit and liquidity to businesses; a supportive infrastructure and government policy framework; and the development of money and capital markets. #HBLGlobalMarketsOutlook24 #HBL State Bank of Pakistan (SBP) | Ministry of Finance, Government of Pakistan | Government of Pakistan | Aga Khan Development Network

GHIB convenes inaugural “CNVERGE” conference on boosting trade banking for Africa GHIB is aligned with this premise and is of the strong view that scaling up the value of African international trade will lead to exponential developmental benefits #AsaaseNews https://lnkd.in/dNxghbJy

The first session of HBL Global Markets Outlook 2024 featured renowned thought leaders from the business field. The panellists discussed Pakistan's economic landscape, emphasizing the challenges and opportunities in investments, currency management, and state-owned enterprises (SOEs). #HBLGlobalMarketsOutlook24 #HBL  Government of Pakistan | Ministry of Finance, Government of Pakistan | State Bank of Pakistan (SBP) | Aga Khan Development Network

The Ministry of Finance recently unveiled a government action plan crafted in response to the IMF’s Governance Diagnostic Assessment (GDA). This plan is designed to underscore the government’s commitment to fostering a sustainable economy and promoting good governance. At Sri Lanka’s request, the International Monetary Fund compiled the governance diagnostic report, necessitating authorities to formulate their action plan for implementing the assessment’s recommendations beyond the commitments under the Extended Fund Facility (EFF) arrangement. Sri Lanka is the first country in Asia to undergo this exercise. The IMF recognised the timely release of the GDA as a commendable initial step in addressing corruption vulnerabilities. Read more: https://wp.me/p83ZS2-KR5 #LMD #TheVoiceOfBusiness #FinancialProfiles #Microcosm

The World Bank reaffirmed its unwavering support for Pakistan's reform and digitalization endeavors aimed at stabilizing the economy and boosting revenues. This assurance was conveyed during a meeting between Finance Minister Muhammad Aurangzeb and World Bank Group President Ajay Banga in Washington. Minister Aurangzeb highlighted Pakistan's advancements under the nine-month Stand-By Arrangement program, emphasizing ongoing reforms in critical sectors such as taxation, energy, and privatization. Both parties agreed on the implementation of a Country Framework Plan spanning ten years. Additionally, the World Bank President pledged full support for Pakistan's reform and digitalization initiatives. The Finance Minister extended an invitation to the World Bank President to visit Pakistan, further reinforcing bilateral cooperation. Concurrently, discussions between the Finance Minister and the President of the Asian Development Bank, Masatsugu Asakawa, centered on enhancing the partnership between Pakistan and the Asian Development Bank, safeguarding the country's access to concessional financing, and fostering future project pipelines. #WorldBank #PakistanReform #Digitalization #EconomicStabilization #RevenueBoost #FinanceMinister #WorldBankPresident #BilateralCooperation #CountryFrameworkPlan #AsianDevelopmentBank #ConcessionalFinancing #ProjectPipeline #creativesandconcepts #creativespakistan Read More=> https://lnkd.in/esNw2n_d

The South African Reserve Bank (SARB) has imposed administrative sanctions on Bank of China Limited, Johannesburg Branch (BOC Jhb) as a result of its non-compliance with the provisions of the Financial Intelligence Centre Act 38 of 2001 (FIC Act), following a FIC Act inspection conducted in 2021. The assessment involved the sampling of certain data for the period from 2016 to 2020. via South African Reserve Bank #corporate #riskmanagement #risk https://lnkd.in/gdNZXZy6

Ministry of Finance, Planning & Economic Development (MOFPED) Lauds FATF for Uganda’s Removal from the Grey List The Minister of Finance, Planning and Economic Development Matia Kasaija has stated that Uganda is now a safe country for international investment. Kasaija said this during a Press briefing, highlighting the country's removal from the "Grey List" held at the Ministry of Finance, Planning and Economic Development in Kampala yesterday. The global Anti-Money Laundering/Combating of the Financing of Terrorism (AMF/CFT) grey list comprises countries with enforcement weaknesses and are subject to intense monitoring to upgrade their compliance ratings. Prolonged compliance failure might lead to the blacklisting of a defaulting country in the international financial system; a step that is bound to disrupt the usage of electronic financial transfers, letters of credit, and movement of overseas financial remittances between the affected country and foreign commercial banks. Uganda had been demoted to the Financial Action Task Force (FATF) grey list in early 2020 following persistent failure to mitigate various loopholes in its Anti-Money Laundering/Combating of the Financing of Terrorism (AMF/CFT) enforcement regime. The FIA Executive Director assured the FATF delegates, Ugandans and the international community of Uganda’s commitment to consolidating the highlighted achievements attained during the period and to further strengthen the AML/CFT/CPF regime. He maintains that this commitment shall be achieved through strengthening the National Task Force to effectively coordinate an all-government approach to the crimes, increased engagements with the private sector to aggressively embrace the various AML/CFT/CPF measures including dealing with the identified risks, as well as strengthening the capacity of the institutions involved in the fight against ML/TF crimes. Uganda's successful exit from the FATF Grey List not only reinforces the country's reputation as a responsible member of the global financial community but also enhances its attractiveness to investors and facilitates greater access to international financial markets. The Financial Intelligence Authority expresses gratitude to the FATF for its constructive engagement and guidance throughout this process. Uganda remains committed to sustaining momentum in its efforts to strengthen its AML/CFT framework further and contribute to global efforts to combat financial crime. #uctvnews #uctvnewsupdates #ugandacatholictelevision #uctvuganda #uctv #greylist #moneylaundering #FATF #antimoneylaundering #AML