Staff Reporter

The collaboration will leverage IPPB’s network of 650 banking outlets.

Farmers no longer required to visit PCIC offices.

The introduction of IFRS 9 at the start of 2018 fundamentally transformed how financial institutions (FIs) understand and measure risk, prompting a shift to a proactive approach to credit risk management. FIs must anticipate and make future losses provisions, rather than reactively responding only after a loss has been incurred. This shift necessitates accurate financial reporting and extensive disclosures, including the recognition and measurement of expected credit losses (ECL).

This allows customers to pay directly from their bank accounts.

But loans extended to SMEs will continue to remain sluggish in quality.

It identified consumer payments and value-added services amongst its growth levers.

Of 22 priority actions, 4 are complete and 15 are ongoing, the statement said.

Japan's FSA suspected the bank of having left 14,369 transactions unaccounted for.

It reportedly improved payments processing and regulatory compliance.

AmBank failed to obtain approval for the transactions, the BNM said.

The platform recently welcomed Kaspi.kz and BigPay.

Loans for use outside Hong Kong dropped by 1.3% in December.

The number of cases fell, but the three-month delinquency ratio rose.

Renminbi deposits fell, whilst RMB remittance rose in December.

It attributed this to the recovery of tourism and exports.

Philippine and Singapore banks will be key beneficiaries if rates are higher.