The Islamic Development Bank and the International Islamic Trade Finance Corporation have signed an agency agreement to facilitate the implementation of COVID-19 Restore Program. The program will be implemented
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Nigeria: Central Bank extends commencement dates for minimum capital requirements
In light of the COVID-19 pandemic, the Central Bank of Nigeria has extended by one year, commencement dates for revised minimum capital requirements for microfinance banks (MFBs) in the country. -
Ireland: Guidelines on preventing money laundering and countering terrorism financing published
The Central Bank of Ireland has launched Guidelines to assist regulated entities to meet their anti-money laundering and countering the financing of terrorism obligations. Speaking at the launch, Director -
EBA proposes to further strengthen depositor protection in the EU
The European Banking Authority has published its second opinion on implementing the Deposit Guarantee Schemes Directive in the EU. The opinion focuses on payouts by deposit guarantee schemes (DGSs) -
SRB consults on its ‘Expectations for Banks’
The Single Resolution Board (SRB) has launched a consultation on its ‘Expectations for Banks.’ The document outlines best practices on key aspects of resolvability. The document sets out the capabilities
April 17, 2020
COVID-19: Bank of Uganda issues credit relief measures to mitigate economic impacts
The Bank of Uganda has introduced credit relief measures to mitigate the adverse effects of the COVID-19 pandemic. The relief measures are also aimed at promoting financial and operational resilience during these exceptional times. The measures include repayment holidays for a maximum of 12 months, loan tenor extensions, and Africa
April 17, 2020
Iceland: Central Bank finalizes agreement on guarantee of supplemental loans to businesses
The Central Bank of Iceland and the Ministry of Finance and Economic Affairs have sealed an agreement on Treasury guarantees of credit institutions’ supplemental lending to businesses in response to the COVID-19 pandemic. The scheme aims to support companies that are severely impacted by the coronavirus pandemic and the Europe
April 16, 2020
Canada: OSFI releases FAQs on COVID-19 Related Regulatory Measures
Since the COVID-19 pandemic, OSFI has announced a series of regulatory measures to support the financial and operational resilience of federal banks. The prudential regulator has now published a suite of FAQs that addresses common questions on the recently announced measures. OSFI notes that it will update the North America
April 16, 2020
Central Bank of Kenya publishes Credit Reference Bureau Regulations
The Central Bank of Kenya (CBK) has published the Credit Reference Bureau Regulations, 2020 (CRB Regulations). Replacing the Credit Reference Bureau Regulations, 2013, the CRB Regulations authorize the CBK to license and supervise Credit Reference Bureaus. The Regulations provide a framework for the exchange of borrowers’ credit information Africa
April 15, 2020
FSB releases report on international cooperation to address COVID-19 implications
The Financial Stability Board has published a report on international cooperation and coordination to address the financial stability implications of COVID-19. The report outlines principles that underpin the official regulatory community’s rapid and coordinated response to support the real economy, maintain financial stability and minimize the risk of market Other